HarperCollins global revenues up 23% as EBITDA soars

HarperCollins saw global revenues soar to $540m in the three months to 31st December 2020, up by 23% and $102m on the same period in 2019.

Second quarter results filed by owner NewsCorp also showed EBITDA at the publisher increased 65% on the prior year, to $104m. The $540m revenue figure, fuelled by double-digit growth in every category, included $15m from acquisitions, which also added $3m to EBITDA.

The report stated: “The revenue growth was primarily due to higher sales in every category, with the success of titles such as Didn’t See That Coming by Rachel Hollis, The Happy in a Hurry Cookbook by Steve Doocy, The Greatest Secret by Rhonda Byrne and Code Name Bananas by David Walliams.”

Digital sales increased 15% on the prior year, “driven by growth in both e-book and downloadable audiobook sales”. Digital sales represented 18% of consumer revenues for the quarter. UK figures were not broken out.

NewsCorp acknowledged that its book publishing business had benefited from a change in consumer behaviour brought about by the Covid-19 pandemic, leading to an increase in free time and an increase in the average number of books bought. However, it said it was monitoring the sustainability of those patterns.

The report warned: “Currently the company is expecting performance to moderate in the second half of fiscal 2021, particularly in the fourth quarter, in part due to the strong performance in the prior year, which benefited from increased consumer demand at the onset of Covid-19 lockdowns and restrictions.”