Harry Potter publisher Bloomsbury tracks ahead of FY24-25 expectations on fantasy-fiction demand
2024.10.24 03:04
(Reuters) -UK’s Bloomsbury Publishing on Thursday said trading in fiscal year 2024-2025 will be ahead of current expectations, after posting a 32% jump in first-half revenue, driven by another round of blockbuster performance of Sarah J Maas’s fantasy fiction titles.
The publisher, best known for picking up J.K. Rowling’s Harry Potter series in 1997, has managed to attract a broader readership with “A Court of Thorns and Roses” or ACOTAR series author Sarah J. Maas’s fantasy-fiction novels.
The genre is gaining popularity among teenagers and adults alike through word-of-the-mouth recommendations on social media, including TikTok and Instagram.
The company reported revenues of 179.8 million pounds ($232.4 million), compared to the 136.7 million pounds it reported last year.
It expects to report revenues of 319.3 million pounds and pre-tax profit of 37.5 million pounds for the year ending Feb. 28, 2025.
($1 = 0.7735 pounds)
