The increased revenue and profits aren’t surprising, given that NPD BookScan is reporting that print book sales are up by about 26 percent versus 2020. Plus, publishers experienced a sales decline in March 2020, so that’s also making this quarter look particularly good.
- HarperCollins enjoyed a 45 percent increase in Q1 (subscription required); backlist was a big driver of growth. Ebook sales were up 38 percent; audiobook sales grew 42 percent.
- HMH Books & Media, which was recently purchased by HarperCollins, enjoyed a 12 percent increase in sales.
- Simon & Schuster saw a sales increase of nearly 9 percent in the first quarter, with 21 percent revenue growth in its international division. Ebook sales were flat, while audio sales grew 17 percent.
- Hachette Book Group increased their sales by more than 9 percent over last year, driven by strong hardcover sales.
Elsewhere:
- Storytel reported a 20.5 percent increase in streaming sales in the first quarter. The company also sells print books and saw gains there of 9.1 percent.
- Amazon tripled its profits in the first quarter; global sales increased by 44 percent.
Jane Friedman has spent her entire career working in the publishing industry, with a focus on business reporting and author education. Established in 2015, her newsletter The Bottom Line provides nuanced market intelligence to thousands of authors and industry professionals; in 2023, she was named Publishing Commentator of the Year by Digital Book World.
Jane’s expertise regularly features in major media outlets such as The New York Times, The Atlantic, NPR, The Today Show, Wired, The Guardian, Fox News, and BBC. Her book, The Business of Being a Writer, Second Edition (The University of Chicago Press), is used as a classroom text by many writing and publishing degree programs. She reaches thousands through speaking engagements and workshops at diverse venues worldwide, including NYU’s Advanced Publishing Institute, Frankfurt Book Fair, and numerous MFA programs.
