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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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226-250 251-269
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
Auror
Points: 3041
ThePhoenix'sSong says:
I will be sad once the Harry potter books are finished. What am I going to look foward to after all the books then the movies are out? Any way they are right to worry about what will happen after they no longer have Harry Potter books to put out although they can still sell the HP books for new future fans.
Posted Apr 11, 2006 at 4:16 PM EST
Witch
Points: 627
~DetailedDragon~ says:
Thats cool! But they are going to stop selling harry potter books in 2011? why thats so stupid!
Posted Apr 11, 2006 at 4:16 PM EST
Head Girl
Points: 427
Padfoots Escape says:
I'm going to be so sad when the last book is released, and I finish it. I just hope JK Rowling puts a great finish to the story.
Posted Apr 11, 2006 at 4:30 PM EST
Witch
Points: 849
mrs sirius black says:
Interesting. I wonder if another publisher will continued to print HP after 2011. I know the books won't be out of print, but it doesn't sound like Bloomsbury wants to do it anymore.
Posted Apr 11, 2006 at 4:36 PM EST
Prefect
Points: 341
**Miss Hermione Granger** says:
WOW! That's a lot of $$ they're making selling the books!! Why are they going to stop sellin them???
Posted Apr 11, 2006 at 4:58 PM EST
Order of Merlin, 2nd Class
Points: 1675
lissir10 says:
That Stinks for Bloomsbury if they think they will be in trouble without JKR's books.
Posted Apr 11, 2006 at 4:58 PM EST
Wizard
Points: 708
gildavis says:
If they are smart, they will bug JK to write another series of books in a few years and keep the gravy train going.
Perhaps after her kids are in university.
Posted Apr 11, 2006 at 5:01 PM EST
Head Girl
Points: 443
Cherrybabi56 says:
OK! First I would like to point out that they are not going to stop printing and selling Harry Potter books in 2011! That is the approximate year they will stop making large profits from the books. They figure that most of the Potter fans will have already bought their books by that point. They will still print the books for those who haven't read them or just want to buy them. It will still bring them money just not massive loads of cash. So... They will still print the books!
... I think that Bloomsbury is being very smart about this situation. They're preparing themselves for the future after Potter. It's good that they're using their resources to draw in other big name authors and deals. It's a very smart move.
Posted Apr 11, 2006 at 5:17 PM EST
Witch
Points: 537
lizzidi says:
Yeah...that and by 2011, both the books *and* movies will be finished (and I know they must see an rise in profits whenever the movies come out...I know plenty of people who saw the films, then got the books...)
Congrats to them on their success though. I hope they sign loads more authors and publish more wonderful things :-)
Posted Apr 11, 2006 at 5:21 PM EST
Princess of Nargles
Points: 4137
hp_fan206 says:
Oh wow. Bloomsbury is certainly making the big bucks. It would be quite unfortunate if they stopped making profits after the 7th book. But it would show bhow successful JKR is.
Posted Apr 11, 2006 at 5:26 PM EST
Head Girl
Points: 452
I heart HP92 says:
I really want the last book to come out, but I don't want it to be the last one. I really like these books. And they can't stop selling the books, everbody likes them. The cronicles of narnia, and the lord of the rings are both like ancient, but they didn't stop selling those now did they?!?!?!?!?!?!?!?!?!?!?!
Posted Apr 11, 2006 at 5:50 PM EST
Prefect
Points: 393
Polyjuice209 says:
I will be soo sad after the Harry Potter books stop getting published!
Posted Apr 11, 2006 at 5:54 PM EST
Witch
Points: 915
Hermione-half&half says:
That doesn't sound right. Even once the series ends there'll be loads more book they can sell off - even if they're cheesy. Stuff like trivia from the books and films, about the cast, characters, quotes, etc, etc,...there's loads of ways for them to make more money off of it, they just haven't thought about it properly.
Posted Apr 11, 2006 at 5:56 PM EST
Order of Merlin, 2nd Class
Points: 1720
hpforever138 says:
Sweet HP is aweomse Bloomsbury might not be doing to good without it! But way to go HP!
Posted Apr 11, 2006 at 6:00 PM EST
Witch
Points: 640
RMSginnay says:
I knew that they made alot of money, but that is an unbelievable amount!!
Posted Apr 11, 2006 at 6:02 PM EST
Order of Merlin, 3rd Class
Points: 1576
ALLI8 says:
COngrats to them, i'll miss the books!
aLLI8~
Posted Apr 11, 2006 at 6:08 PM EST
Order of Merlin, 3rd Class
Points: 1444
RIP_Sirus_and_Dumbledore says:
Thats neat
Glad they're preparing for after the Potter Craze is over...
They should it's a good thing
Posted Apr 11, 2006 at 6:09 PM EST
Auror
Points: 2315
Ovlac says:
I think Bloomsbury had a lot of luck when decided published HP books, and I don´t think they have to be nervous because the last book is near. Everybody knows that it´s very difficult that they find other book like this, but there´s a lot of publishers and this can continue selling books.
Posted Apr 11, 2006 at 6:15 PM EST
Witch
Points: 828
Elphaba_Thropp says:
I'm sure the that Bloomsbury are going to be financially secure for years to come, people today are still buying Philosophers' stone which is now like 10 years old. And I'm sure in ten years time they will still be buying them. And I don't think it means they will stop selling HP books in 2011, It's just that that's how far they've planned re-releases and special editions etc. They can't spend the rest of their lives re-inventing new ways to bring out HP books, The fact that they've planned it up to 2011 is pretty impressive already!
Posted Apr 11, 2006 at 6:24 PM EST
Head Girl
Points: 449
Emma#1fan says:
There making money, thats greay for them. Every bod better get all the harry potter books before 2011. It'll be sad if they stop selling them because 100 years from now, our grandchildren would never know about how great harry potter was.
Posted Apr 11, 2006 at 6:41 PM EST
Auror
Points: 2495
Jbird says:
I think that they'll be around for a while. And hopefully they'll nab some good books, besides JKR of course. And hey she said that she was going to release maybe some background books on other characters and maybe even one about DD so that will be cool.
Posted Apr 11, 2006 at 6:50 PM EST
Seer
Points: 15207
Brittany Radcliffe says:
we all know that HP is the major cash for this business but im sure there will be other books out there eventually to bring home the money (but it IS true that they wont be as great as HP).
Posted Apr 11, 2006 at 6:52 PM EST
Professor
Points: 1063
Ginny511 says:
YEAH!!! good for them!!! Who would have thought Harry Potter!!!
Posted Apr 11, 2006 at 6:57 PM EST
Head Girl
Points: 487
Molly3 says:
Interesting how one huge success makes it that much harder to be "average" again. I can understand the worry, but it makes me laugh!
Posted Apr 11, 2006 at 7:05 PM EST
Order of Merlin, 2nd Class
Points: 1647
Hermione's younger sister says:
Wow, that is a lot of money!!! I wish I had that much money. Harry Potter is definately one of the best movies ever made!
Posted Apr 11, 2006 at 7:13 PM EST
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