The growing demand for highly-produced books resulted in a stellar year for the U.K.–based Folio Society. Long known for publishing well crafted books, Folio reported a 16% increase in sales, to £16.3 million (about $21 million), in its fiscal year 2024, which ended this October. Pre-tax profit soared 137%, to £1.9 million.
Folio only sells its titles directly through its website, and it reported that its total customer base increased by 15% in the fiscal year, to 76,000. And in keeping with reports from other publishers, Folio said that customers ages 25-34 constitute its biggest buyer group. Demand for deluxe editions and other collectible books among American readers is also reflected in the publisher’s sales report, with the U.S. accounting for more than 50% of Folio’s revenue in the last fiscal year.
Among the sales highlights in the year, Folio reported, was its edition of J. R. R. Tolkien’s The Hobbit, priced at $850, which sold out its 1,000-copy run in 14 minutes last month. The limited edition of The Book Thief by Markus Zusak sold out in 22 minutes. Folio’s bespoke version of Madeline Miller’s The Song of Achilles generated more than 2 million views on TikTok and prompted the publisher to go back to press after the first printing sold out in a few weeks.
Joanna Reynolds, Folio’s CEO for the last nine years, credited a team approach for the publisher’s recent success. “We have a very talented and energetic team at Folio and work with brilliant partners to produce our fantastic and beautiful books, selling via our website with social media and email and delivering across the globe,” Reynolds said in a statement.
