HarperCollins 'thriving' as sales rise 19% in latest quarter

HarperCollins' global sales were up 19% year on year in the latest quarter, due to strong sales and the acquisition of Houghton Mifflin Harcourt’s Books and Media segment.

Figures published by parent company News Corp, which does not break out UK statistics, showed the publisher's worldwide sales in the three months ending 30th September hit $546m (£406m), up from $458m (£340m) in the same period last year, a rise of 19%. EBITDA (earnings before interest, taxes, depreciation and amortisation) at the publisher increased to $85m (£63m) from $71m (£53m) in 2020. 

News Corp said revenue growth was down to the $50m (£37m) contribution from the acquisition of Houghton Mifflin Harcourt’s Books and Media segment (HMH) in May. News Corp c.e.o. Robert Thomson said of the results: "HarperCollins is thriving, driven by strong sales and the successful integration of HMH." There was a continued strong consumption trends and a $7m (£5.2m), or 1%, positive impact from foreign currency fluctuations.

It also cited higher sales in the UK as well as in the Christian and general books categories, including The Cellist by Daniel Silva, the series of Bridgerton titles by Julia Quinn and Vanderbilt: The Rise and Fall of an American Dynasty by Anderson Cooper.

Digital sales increased by 5% compared to the year before, driven by growth in both downloadable audiobook and e-book sales. 

For News Corp as a whole, revenues were $2.5bn (£1.86bn), an 18% increase on the $2.12bn (£1.6bn) recorded in the same period last year.