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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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Heiress of Gryffindor
Points: 3537
Nienna Narmolanya says:
Ehh, they'll do well enough. Harry Potter is pretty big, but I'm sure there might be betetr books in the future. I mean, Harry Potter is GENIUS, but come on, there has to something better in the future - this can't be the only GREAT series ever.
Posted Apr 12, 2006 at 9:47 PM EST
Auror
Points: 2260
ScintillatingStar says:
hahahahaha can ij just say i love the use of alliteration in the headline, it made me laugh. Nice work.
Posted Apr 12, 2006 at 9:50 PM EST
Auror
Points: 2260
ScintillatingStar says:
oh and I should probably say something about the article!! Well now that they're had their break, they should have no problem keeping profits up! They have a higher profile and more money to get the bigger names.
Posted Apr 12, 2006 at 10:00 PM EST
Squib
Points: 128
chudley cannons says:
"Potter's demise"???? I firmly believe that Harry Potter will remain popular long after 2011!!!
Posted Apr 12, 2006 at 10:35 PM EST
Witch
Points: 780
Jess the potter fan says:
Poor bloomsbury!!! i hope they dont go bankrupt!!! i guess jk will just have to write more books???
Posted Apr 12, 2006 at 10:55 PM EST
Dumbledore's Muse
Points: 2959
Alchemical Auror says:
Good on Bloomsbury - they are reaping the rewards of giving an unknown author a chance! Good on them tally ho!
**golfs claps Bloomsbury**
Posted Apr 13, 2006 at 9:54 AM EST
Witch
Points: 894
darkside rocker says:
I can not wait for it to come out.
Posted Apr 13, 2006 at 11:09 AM EST
Points: 14
The Dragon Lord says:
It was a lucky day for The Bloomsbury, when it offered J.K.Rowling to publish her first work, 'Philosopher's Stone'. Lets wish they get more such fablous talents in the future!
Posted Apr 13, 2006 at 12:48 PM EST
Order of Merlin, 3rd Class
Points: 1451
leeanne<3ron says:
Hmm..2007 that sounds like a statement...
I hope they don't stop selling them in 2011.What are our kids going to read ?!
They would still get copys sold even if it is a couple of years old.Its like a book you have to have!
Leeanne xx
Posted Apr 13, 2006 at 1:49 PM EST
Hogwart's Ghost
Points: 2604
gemma_barnett1985 says:
Yay bloomsbury have been nice to jk. Given her all the time in the world to do the last three books.
Posted Apr 13, 2006 at 2:09 PM EST
Head Girl
Points: 408
randomnessthoughts says:
Wait wait wait...they're gonna stop selling Harry Potter books?? They can't do that!!! ;(
Posted Apr 13, 2006 at 3:11 PM EST
Muggle
Points: 17
Aquiey says:
I think I'll buy all seven books in hard back when it comes out, because my paperback ones are worn out. I can't believe the seires is almost over.
Posted Apr 13, 2006 at 6:52 PM EST
Points: 2731
Tri Wizard Champion says:
*crys* All of this talk about the series finishing has finally hit me...it shall all be over soon. Bloosumberry thrived before the books, so why will is fall about after? Difficult to see what will happen...if it goes down the drain...so will harry potter...sigh
TWC
Posted Apr 13, 2006 at 10:52 PM EST
Prefect
Points: 331
cckeimig says:
Folks, I really don't think they'll stop selling the books in 2011. I think what they mean is that the books won't be their top sellers any more and they won't be able to introduce new products to the line any more. There will, of course, have to be reprintings, but they need to have a plan for future income if they want the company to continue to enjoy such a high profit margin...
Posted Apr 13, 2006 at 11:21 PM EST
Muggle
Points: 5
ThunderlorD says:
Well after the last potter book is released probably in 2007 I'll be the saddest.But bloomsbury should continue printing.
Posted Apr 14, 2006 at 1:47 AM EST
Auror
Points: 2256
Harry Houdini says:
I hope they put away some of their money for a rainy day?
I whould think Bloomsbury will look over new authors more closely. I also hope they will give more chances to them to become a author. Eventually if they do this they will find another golden egg.
Posted Apr 14, 2006 at 2:17 AM EST
Order of Merlin, 4th Class
Points: 1380
gandalfthegray says:
Congratulations to Bloomsbury Press!!! They made a great choice when they picked to publish Harry Potter. They deserve all the success they can get.
Posted Apr 14, 2006 at 5:03 AM EST
Witch
Points: 534
mrs radcliffe/potter says:
What? 2011??? Dont tell they'll stop selling Harry Potter books then!!!NO!! Well I certainly hope not!! Well and it's quite obvious that they've made BIG numbers by selling Harry Potter books & stuff!!! duh!
Posted Apr 14, 2006 at 1:47 PM EST
Student
Points: 229
AAR4EVER says:
I'll hate the day when I'm done reading all the books and there will never be another.
Posted Apr 14, 2006 at 3:21 PM EST
Squib
Points: 128
Werewolf at heart says:
O I cant think about a day when Im not looking forward to new Harry Potter book! that will be terrible. well at least then Bloomsbury, our favorite publishers will still be doing well!:)
Posted Apr 14, 2006 at 3:53 PM EST
Witch
Points: 914
hp-luver says:
Wow. It's really awesome that it's the best business. After Harry Potter they might lose some money. And we might lose a hobby of posting comments.
Posted Apr 14, 2006 at 7:00 PM EST
Order of Merlin, 3rd Class
Points: 1454
xMAVERICK says:
Thats just crazy how much money they have made.... Like they are rolling in the dough now haha.
Posted Apr 14, 2006 at 7:09 PM EST
Prefect
Points: 345
Saphira211 says:
Wow! I guess I hadn't thought that Bloomsbury would lose their big sellar eventually. I mean Harry Potter is probably the best thing that ever happened to them! And in a few years its going to be gone!
Posted Apr 14, 2006 at 7:32 PM EST
Order of Merlin, 3rd Class
Points: 1448
Wulfric_Brian says:
Lucky Bloomsbury! Well I guess they deserve it for recognizing Harry Potter and JK Rowling's greatness. After the books are done, though, all we will have is the movies, and when those are finished... :'0
Posted Apr 14, 2006 at 7:49 PM EST
Squib
Points: 107
OMEN_OF_DEATH says:
Wow i didnt know the book made that much money! However i hope that the company dosent oversell the Harry Potter merchindice. Like coming out with new products just to make a dollar instead of trying to expand the minds of children and adults alike.
Posted Apr 14, 2006 at 9:46 PM EST
The Fifth Marauder
Points: 2771
Curious Werewolf says:
They can't stop selling the books after 2011! Surely another publisher will sell them, I mean, this is Harry Potter we are talking about, they can't stop selling them forever. And so soon! That's only five years away, four years after book 7 and three after it is in paperback!
Posted Apr 15, 2006 at 5:56 AM EST
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