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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
Princess of Fantasy
Points: 2538
magiclover13 says:
It'll be so sad once the books are done!
But we still got the last few movies to hold us all through...
Posted Apr 11, 2006 at 2:08 AM EST
Order of Merlin, 1st Class
Points: 1921
nik-Knak says:
im gonna cry when the 7th book comes out! haha=P thats funni about Bloomsbury but hey what about tha other book seiers that J.K sed she was riting or summin like that maybe they can get some money off that ahah =P
Posted Apr 11, 2006 at 2:23 AM EST
Prefect
Points: 319
Krithika_21 says:
Godd for the Bloombsbury people,but why stop selling HP stuff after 2011 ??? That's bad !!!
Posted Apr 11, 2006 at 2:33 AM EST
Order of Merlin, 4th Class
Points: 1248
Ivay says:
Woooooooooooooooooooooooooooooooooooow!!!!!!!
Posted Apr 11, 2006 at 2:36 AM EST
Wizard
Points: 701
cmenges says:
I am so glad that harry potter is doing well. BUT why the hadies is there a chance that they will stop selling. ALL the great authors sell even after they are long gone. ANd the REALLY great ones sell for the rest of their lives as well.
Posted Apr 11, 2006 at 2:38 AM EST
Dragon Rider
Points: 4437
~MalfoyPotter~ says:
No!!!!... *sobbs* I dont want HP to end!!! But of course, everything has an END. Oh well... Congrats to Bloomsbury for making that much money too. :)
~MP~
Posted Apr 11, 2006 at 2:46 AM EST
Head Girl
Points: 418
harry_rox11 says:
It will be so sad with the final HP book comes out.. but at the same time everyone will be really excited and eger to find out what harry does in the last book!!! I know i will!!! anyway we have the next couple of movies to look forward to!!! :D
Posted Apr 11, 2006 at 3:07 AM EST
The Faerie Queene
Points: 3277
merri maven says:
Yup, Bloomsbury better get a rush on because finding replacement to the HUGE void that HP makes will impact them hard.
Posted Apr 11, 2006 at 3:07 AM EST
Squib
Points: 159
red-heads-rule says:
I wouldnt be suprised that they were rich by the books! I really want the seventh one to come out, but I dont want the series to have finished!
Posted Apr 11, 2006 at 3:17 AM EST
Witch
Points: 699
Mrs.Draco.Malfoy says:
I wonder how much they'll profit after 2011, not much I'll bet, Potter keeps it high!
Posted Apr 11, 2006 at 3:20 AM EST
Wizard
Points: 906
*The*Physical*Being* says:
Good thinking actually, anyway its a pity that they will stiop selling potter books in 2011
Posted Apr 11, 2006 at 3:28 AM EST
Witch
Points: 955
witch46 says:
We should've all gotton their shares as soon as Harry Potter became big! Then we'd all be RICH!!!
Posted Apr 11, 2006 at 3:31 AM EST
Witch
Points: 955
witch46 says:
I don't think that they'll stop selling the all time most profitable books in history(harry potter). More like just stop preducing more designs or like making less of them etc.
Posted Apr 11, 2006 at 3:33 AM EST
Squib
Points: 102
CoyoteCreed says:
Calm down, everybody. There's no way that Bloomsbury will stop selling Harry Potter books after 2011. The article is simply saying that the franchise will no longer be able to drive Bloomsbury's sales in the same way because just about everybody who wants a Potter book will have one by then. Are any of you going to buy a new set of Potter books once every four or five years just to keep Bloomsbury's profits high? Doubtful. Publishers derive most of their profits from new releases, so they have to keep seeking rights to new titles. That's all that this article is saying.
Posted Apr 11, 2006 at 3:39 AM EST
Weird Sisters Bassist
Points: 8448
Paper Cut says:
Nah, Harry Potter will be around forever. They can sell it till the world explodes and still make billions. People will be talking about Harry Potter forever.
Posted Apr 11, 2006 at 4:15 AM EST
Order of Merlin, 3rd Class
Points: 1500
krystle_clear says:
I really dont think that they will stop selling harry potter, i mean when i have kids they are surely going to read harry potter, or i will read it to them, so the next generation is going to know about it! so they cant stop selling it.
Posted Apr 11, 2006 at 4:24 AM EST
Squib
Points: 127
looneybooks says:
I agree with you coyotecreed it makes sense that Bloomsbury will not stop selling Harry Potter; as a new generation of children become aware of Harry Potter the sales will be steady and forums such as these will continue it will not be an end of an era after 2011 and who knows J.K.Rowling will carry on writing.
Posted Apr 11, 2006 at 4:26 AM EST
Prefect
Points: 320
ElectricRoses says:
Ummm, clever of them. I mean, I'm sure they won't stp publishing HP but the demand will probably drop after a few years so they are going to need other great books to keep them at the top of their field. Who'd have thought one book could make a company the most successful in their field... Crazy!
Posted Apr 11, 2006 at 4:32 AM EST
Kathe Mera Kalimera
Points: 7720
dominor says:
Intersting..And clever too..Buti can't understand,all this money (50 million!) from the 6 Harry Potter books that have been published???I mean..WOW!
Posted Apr 11, 2006 at 4:35 AM EST
The Usual Suspect
Points: 3421
Orchid says:
Oh no, I hate it when companies go for "big names". If they had had that type of strategy a decade ago, maybe Harry Potter and the Philospher's Stone had not been published and we would have been missing out on this great series of books. I think they should just concentrate on publishing good books and to find new talent that deserves a chance. I would rather see them as that type of company instead of one that only cares about money.
Posted Apr 11, 2006 at 4:45 AM EST
Prefect
Points: 396
EbonyIvory says:
Well thats any companys aim... to make money! And in Bloomsberry's case HEEPS AND HEEPS!!!! I think that the day that Bloomsberry signed up to publish J.K Rowlings HP series was the best day in their company life!! Well done happy spending!! :-D
Posted Apr 11, 2006 at 4:55 AM EST
Grillows Girl
Points: 2785
Miss Baltimore Crabs says:
Wow, they're going to be in trouble after all the HP books have been released... they'll probably release loads of different editions though, cause they know people will buy them.
Posted Apr 11, 2006 at 5:32 AM EST
Take That Tracy Owen
Points: 3558
Diggory Sister !!! says:
Congrats to Bloomsbury!!!! But they cant stop selling HP books after 2011!!! Thats what they said!
Posted Apr 11, 2006 at 5:33 AM EST
Squib
Points: 102
CoyoteCreed says:
Let me quote from the original article:
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. Of course, Harry Potter will be a fantastic backlist asset, still worth millions of pounds a year, but the £100m-plus turnover figures and double-digit profits are going to have to come from elsewhere.
A backlist title is a book that stays in print for a long time due to its popularity. Translation: Bloomsbury will not stop selling Harry Potter books.
Posted Apr 11, 2006 at 5:51 AM EST
Professor
Points: 1102
Fire Phoenix says:
Well they earned the money fair. And why shouldnt they get more if they publish the right books. But a must should be that they give jung writers a chance if they have so much money
Posted Apr 11, 2006 at 6:11 AM EST
Order of Merlin, 4th Class
Points: 1234
Krum says:
I only get scholastic but Bloomsbary seems good.
Posted Apr 11, 2006 at 6:44 AM EST
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