and more.
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Wiley Expects Steady Profit Improvement
The newly restructured Wiley posted a big earnings increase in the third quarter and is predicting higher profit margins for both fiscal 2025 and 2026.
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Book Publishing Sales Rose 6.5% in 2024, Per Preliminary Data
Gains in the religion and adult fiction segments helped to offset softness in other areas, leading to a 6.5% sales increase at publishers who report to the Association of American Publishers’ StatShot program.
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A Lukewarm First Year for the Newly Public Webtoon Entertainment
The webcomics company saw revenue increase 5.1% in 2024, but earnings fell due in part to costs associated with going public last year. Its share price has taken a hit since its IPO, and the company warns that first quarter sales this year may take a loss.
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Hachette Book Group Shines for Lagardère in 2024
Sales at HBG rose 7% last year, marking the strongest performance among Lagardère’s worldwide publishing businesses. The Paris-based publishing giant posted total sales of €2.87 billion, a 2.2% increase over 2023, while profits jumped 35%.
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The Amazon Machine Rolls On
A successful holiday season, which included a 30% increase in sales of Kindle devices, led to a record 2024 at Amazon. Revenue hit $638 billion and operating income soared 86%, to $68.6 billion. The company made an extra $1.5 billion in sales on Leap Day alone.
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Gains Across the Board Lifts Sales, Earnings at HarperCollins
Sales of print and digital formats all posted solid increases in the quarter ended December 31, 2024, with revenue rising 8%, to $595 million. Earnings, helped by higher sales of more profitable backlist titles, increased 19%.
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Cost Cuts Lower Losses at Comics Publisher IDW
Across the board reductions helped ameliorate the graphic novel publisher's losses in fiscal 2024 by $3.5 million as sales remained basically flat at $26 million.
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Strong Sales of Adult Fiction and Religion Books Continued in November
Sales at publishers that report results to the Association of American Publishers’ StatShot program rose 10.3% in November, led by a 19.3% increase in adult fiction and a 24.6% gain in sales of religious books.
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Diamond Comic Distributors Files for Bankruptcy
The future of the comics distribution and graphic novel divisions at the company, which has been a linchpin in the distribution of comics to comics shops since its founding in 1982, is anything but certain. It owes its largest creditor, Penguin Random House, $9.2 million.
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Scholastic Sees Sales, Profits Fall in Second Quarter
Lower sales in the company's trade group, due mainly to the timing of the publication of some of its biggest books, was the major factor in dropping second quarter results. For the full fiscal year, Scholastic still expects revenue to increase between 4% and 6% over fiscal 2024.
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