Big Quarter For Harper
Despite only a 4% sales increase in the second quarter ended Dec. 31, 2005, to $390 million, operating income jumped 24% at HarperCollins, to $77 million. Sales of Narnia-related titles doubled expectations and several long-running adult hits continued to sell-through in big numbers, helping to lower returns, said HC CEO Jane Friedman. A soft religion market and slower sales of The Purpose-Driven Life titles have hurt sales at Zondervan, although Friedman said Zondervan's core business is up, while PDL "is holding on."
For the first six months of fiscal 2006, HC's operating income was up 20.5%, to $147 million, and sales were ahead 5.4%, to $781 million. Friedman was especially pleased with the performance of the adult group during the period, which had an 86% increase in earnings. Friedman expects the U.K. and religious markets to remain "volatile" for the balance of the fiscal year, but she is confident HC will do well through June.
HC Tries Digitizing
HarperCollins has published the first free digital version of one of its backlist titles, Bruce Judson's business book Go It Alone! The book, which came out in hardcover in 2004, was displayed on the author's Web site—with rotating ads—at www.BruceJudson.com. The move will likely be the first among many by the publisher to test commerce models for its content online. According to HC's Brian Murray: "We're in a period of trying different things and we'll continue to innovate...and try to find new ways to create value for our authors and ourselves."
Up Quarter For Nelson
Thomas Nelson's third-quarter sales for the period ended Dec. 31, 2005, rose 12%, to $70.7 million, while net income rose 26%, to $6.9 million. New books by Max Lucado, Jordan Rubin and John Maxwell drove the publishing gains. Nelson president Michael Hyatt said the gains in publishing sales came despite a "less than ideal" bookselling environment, and he noted that Nelson has seen "some pressure" at both religious and general bookstores. Sales through non-traditional channels were up.
MediaBay Explores Options
MediaBay has hired MediaTech Capital Partners to assist the company in exploring its strategic options. "We won't rule anything out that will enhance shareholder value," said Jeff Dittus, MediaBay CEO. Possibilities range from forming a partnership to selling the company.
Scholastic Audio Formed
Scholastic, through its Scholastic Media division, has created a new audio group. Jennifer Feldman, formerly v-p and publisher at BBC Audiobooks America, will head the Scholastic Audio Group, which will launch this summer with six children's titles. After the launch, Scholastic Audio plans to publish 20 titles in its first year, a combination of read-along CDs packaged with paperback picture books for younger readers and unabridged audiobooks on CD for older readers.
Borders in U.A.E. Deal
Borders has signed a memorandum of understanding with Al Maya Group, a diversified corporation headquartered in the United Arab Emirates, to establish a franchise arrangement under which Al Maya will operate Borders stores in the United Arab Emirates and other Gulf Cooperation Council countries. The first of what are expected to be multiple Borders superstores in the United Arab Emirates will be located in Dubai. The stores will offer books in English and in Arabic.
Lonely Planet In Chinese
Lonely Planet has entered into a partnership with SDX, a state-owned publishing company based in Beijing, to publish its guidebooks in Chinese. The first set of Chinese-language Lonely Planet titles is set to ship in June. Lonely Planet has sold English-language versions of its books in China for several years.
Bartin Rises At OUP
After six years as president of Oxford University Press USA, Laura Brown is stepping down. She will be succeeded by Tim Barton, who will take over as president of Oxford USA, along with his responsibilities as managing director of OUP's academic division. Brown joined OUP in 1980 and was named president in 2000.
Atria, Beyond Words Pact
Atria has signed a copublishing deal with Beyond Words, through which the boutique house will have its front and backlist titles distributed and published through Atria.
Obituary:Agent Tracy Howell, 42
Tracy Walker Howell, literary agent and director of foreign rights for the Gernert Company, died February 8 after complications from pneumonia led to Toxic Shock Syndrome. After beginning her career in 1985 at Viking Penguin, Howell was a scout at Maria B. Campbell Associates, and a foreign rights director at Warner Books and Random House.
Howell, who was 42, is survived by husband Michele Tagliati and two children. Remembrances may be made to the Pelham Art Center, 155 5th Ave., Pelham, N.Y. 10803; (914) 738-2525.