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APRIL 10, 2006 at 11:12 PM
Posted by CHEESER
Source: Guardian Unlimited via Yahoo! News
The success of Harry Potter has made British publisher Bloomsbury the most cash-rich in its industry, writes The Guardian's Matt Seaton in an in-depth company analysis
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With more than £50 million in its Gringott's vault, Bloomsbury is spending heavily to nab high-profile books from under the noses of competitors, in an effort to ensure that Potter's demise isn't also the end of their golden years:
The fact that Harry Potter and the Half-Blood Prince, the latest and sixth in the series, is also the penultimate cannot have escaped the attention of Bloomsbury's shareholders. Newton talks about sustaining the franchise with "launches" of Harry Potter products (audiobooks, cloth-bound boxed sets, and so on) until 2011, but the truth is that after the final volume of JK Rowling's series appears, probably in 2007 and then in paperback in 2008, the company has just three more years of mega-bucks revenues.
Company executives are confident they can continue to deliver big returns to stockholders, post-Potter. Founding editor Liz Calder said "the heart and soul" of the publisher will continue to be driven by mass-interest novels, both fiction and non-fiction, but its new strategy will be: "big names, big money."
"We have made a number of big purchases in the last six months," said Nigel Newton, Bloomsbury's chairman. "We're in a position to do so."
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Order of Merlin, 4th Class
Points: 1248
-Alf- says:
Incredible. Where would these "megabucks" come from if it wasn't for JK and the fans who got Harry Potter where it is today? Well, that's business. I guess the Bloomsbury stockholders can start selling their shares once everything's over because it's highly unlikely that there will be something big coming out after the Harry Potter era.
Posted Apr 11, 2006 at 12:06 PM EST
Eccentric Princess
Points: 5200
Remix!! says:
That is kool... I mean it had to HAPpen HP is so popular..
But I'd be ttooo damn sad once the series is over.. Bad.. they wont be selling it after 2011..
Nancy
Posted Apr 11, 2006 at 12:25 PM EST
Order of Merlin, 2nd Class
Points: 1737
HermyG13 says:
It's scary when you look at the fact that there is only ONE left-you want it to come to read it, but the you want more after...
Posted Apr 11, 2006 at 12:38 PM EST
Student
Points: 262
Dobby's_Cute says:
Hopefully they don't stop selling the books because if I ever need a replacement that would be horrible, I guess there is always EBAY, I can't believe how much money they have brought in!
Posted Apr 11, 2006 at 12:52 PM EST
Auror
Points: 2401
tonks 27 says:
No more harry potter? wow, i can't even imagine! i mean, well, i'll still be reading these books for years to come...they're just so good!
Posted Apr 11, 2006 at 12:59 PM EST
Student
Points: 205
Loving HBP says:
Correct me if I'm wrong, but wasn't Rowling NOT a "big name" when she wrote Book 1? Although, Bloomsbury is looking for more "big names" they probably won't draw in as much revenue from ANY big name as they did with Rowling. I would suggest that they invest the profits they have already from the books into stock shares after Book 7 hits the shelf. Once the 7th movie comes out, they will, undoubtly, sell more copies of all the books, especially number 7 to those who have not ventured to read them. That will, however, be a short-run increase in sales. Bottom-line, put a generous share of HP profits into C.D.s and stock!
Posted Apr 11, 2006 at 1:04 PM EST
Witch
Points: 822
I love HP says:
I'm gonna cry once book seven comes out but god damn they sure are making alot of money by the time they are done with the movies the actors will be billionirs!
Posted Apr 11, 2006 at 1:07 PM EST
Order of Merlin, 2nd Class
Points: 1763
hufflepuff_babe says:
It would be horrible if they stopped selling the books. They wouldn't do that though, they are just talking about when they think the profits will drop a bit. I think that Harry Potter will keep selling for numerous years after the last book.
All in all last book talk makes me sad. :( I know it has to end but I am dreading and excited about the final day.
Posted Apr 11, 2006 at 1:37 PM EST
High Inquisitor
Points: 23477
KT Lady says:
Well congrats Bloomsbury! They must be filthy rich by now...little did they know 10 years or so ago how everything would be changed with these 7 books.
Posted Apr 11, 2006 at 1:44 PM EST
Guardian of the Realms
Points: 5601
A&Agang says:
Well, that is not really that shocking. They are just looking toward the future and what will happened after the crazed mania of HP is gone. I can't fault them for that. Hope that they get what they want.
Posted Apr 11, 2006 at 2:03 PM EST
Punk Rock Princess
Points: 2831
XxX~Rachael~XxX says:
Eventhough their prophets will dive after the reslease of the 7th Potter book people wll still buy them. I think I'm going to have to buy another Phillosopher myself becuase I cant find mine. Plus more fans will be born so Potter will still sell. Its a good idea about the box sets and things.
Posted Apr 11, 2006 at 2:44 PM EST
Mrs. Draco Malfoy
Points: 27754
Arika Granger Malfoy says:
That is quite interesting to hear.....I like reading this type of stuff.
It is very cool to learn about companies!
hehe
Posted Apr 11, 2006 at 2:49 PM EST
Order of Merlin, 3rd Class
(Moderator)
Points: 1562
lbaylor says:
I can't believe they have made so much money from this series. It's good for all hopefully though, I hope all of HP doesn't end though after 2011. I hope they still continue the series for the future lovers of HP
Posted Apr 11, 2006 at 2:57 PM EST
Witch
Points: 622
Hermison says:
It is going to be so sad when the final book comes out. Although we are going to know how everything ends up but at the same time we are going to realize that there will be no more Harry. gua!!
Posted Apr 11, 2006 at 3:18 PM EST
Lupin's Eternal Love
Points: 3088
BlackKatL says:
Everybody wants to have book 7 at last. But will happen to our Potter Universe once this book is out and the remaining movies made????? Will we have nothing more to look forward to???? It makes me sad to think about it. :O(
Posted Apr 11, 2006 at 3:29 PM EST
Prefect
Points: 337
felixfelicis14 says:
Do they seriously need more money? Honestly, they have to have made billions of dollars! Harry Potter has probably made them the richest publishing company in Britain! And it's not like more people won't be buying the books after the 7th, they are too good for that!
Posted Apr 11, 2006 at 3:34 PM EST
Witch
Points: 874
Together Forever, H/Hr... says:
Thats a cool ariticle. I'd be scared too if I had the number one book series in the nation about to end and I didn't have anything to come after it....
*%* Susanna *%*
Posted Apr 11, 2006 at 3:34 PM EST
Student
Points: 271
Moyra says:
WOW! 50 million! Well done Jo you have made your publishers some real money!
Posted Apr 11, 2006 at 3:34 PM EST
Prefect
Points: 337
felixfelicis14 says:
BlackKatL-
I agree! What will we do? Maybe JKR will write the textbooks...those were a good read.
Posted Apr 11, 2006 at 3:35 PM EST
Witch
Points: 739
The 4th Champion says:
I don't want to think about no more Harry Potter.
Posted Apr 11, 2006 at 3:48 PM EST
Order of the Phoenix
Points: 4073
Eleanor says:
That is intresting. To be honest, I hadn't thought about what happens to the publishers. I Guess that I have always taken them for granted. Its intresting.
Posted Apr 11, 2006 at 3:49 PM EST
Mrs. Ronald Weasley
Points: 2606
hplover234 says:
Just thinking about the last Harry Potter book coming out is sad but really awesome at the same time. I mean I want it to come out because I want to know how the story unfolds and finishes but I don't want it to come out because then it will end.
*ponders confused with emotions*
Posted Apr 11, 2006 at 3:51 PM EST
Order of Merlin, 4th Class
Points: 1229
sapphire260 says:
Why 2011?? I would like to talk to them!!
Posted Apr 11, 2006 at 3:51 PM EST
Auror
Points: 2419
Gwenyth says:
Wow!!
Thats alot of money! And whats this about stopping the selling?? No that cannot happen.
Posted Apr 11, 2006 at 3:55 PM EST
Order of Merlin, 4th Class
Points: 1237
HeadmistressMcGonagall says:
Well, it's no surprise that the stockholders are expecting some losses in the stock after Book 7 is released, but I think 2011 is a ways off to be worrying about right now...I'll ask my MBA friends, maybe they'll know something more.
Posted Apr 11, 2006 at 4:11 PM EST
Order of Merlin, 3rd Class
Points: 1578
*sweet_angel_baby* says:
The people at Bloomsbury are looking out for the next big thing now since the harry potter series is almost over...but i dont know if they'll even find a series that can compare to harry potter...i cant believe that they are going to stop making harry potter books in 2011...what about the next generation of readers?? i think they should be able get their hands on harry potter...aahh
Posted Apr 11, 2006 at 4:15 PM EST
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