Bloomsbury Sees Increased Profits After "Deathly Hallows" Release

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Bloomsbury Sees Increased Profits After "Deathly Hallows" Release

Bloomsbury

Posted by: Edward

March 30, 2008, 01:23 AM

The Sunday Herald is reporting this evening UK publisher of the Harry Potter novels, Bloomsbury, has seen an increase in their annual profits for 2007, thanks in part to the publication of “Harry Potter and the Deathly Hallows” this past July. Noting the “Potter effect,” the company’s CEO Nigel Newton is expected to announce his company profited an estimated £17 million (nearly $34 million) in 2007. This figure is up from their 2006 profits which were £5.2 million ($10 million). The article goes on to relate Bloomsbury’s thought that the effects from the previous Potter sales will be felt in years to come, as the company uses extra capital amassed to fund the promotion of new novels and other ventures.

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13 Comments

Yay, give money to book sellers!

Posted by Rachel on March 30, 2008, 01:41 AM report to moderator

yay! that’s so awesome to hear. Go Bloomsbury and Harry Potter! :D

Posted by mykelrune on March 30, 2008, 03:31 AM report to moderator

My goodness! Whoever would have guessed that selling a lot of products would cause your profits to increase? Those financial analyst whizzkids are earning THEIR salary, that’s for sure! :P

Posted by Muddtallica on March 30, 2008, 03:32 AM report to moderator

My sentiments exactly, Muddtallica! What an unforeseen consequence of a hugely popular novel! I, for one have been waiting with bated breath for this report, because I simply didn’t know how it would turn out!

Posted by FGK on March 30, 2008, 04:48 AM report to moderator

that’s great!!!!!!!!!!!!!!

Posted by charmaine jerly nacario on March 30, 2008, 05:50 AM report to moderator

shocking!

Posted by margoooo on March 30, 2008, 07:10 AM report to moderator

Gosh, that’s HUGE!! Harry Potter has really turned around the fortunes of so many people!!

Posted by Prenz on March 30, 2008, 09:02 AM report to moderator

I’m glad to see that it’s not just the movie makers that are making money from Harry Potter, because books are so much better.

Posted by Lexi on March 30, 2008, 05:47 PM report to moderator

Well said Muddtallica!!

“thanks in part to the publication of “Harry Potter and the Deathly Hallows”

In part??? Isn’t that a bit of an understatement??!!

Posted by RemyJo on March 30, 2008, 07:03 PM report to moderator

It’ll be interesting to see what happens to Bloomsbury in the next few years, without any new Potter books on the horizon.

Posted by fenm on March 30, 2008, 08:25 PM report to moderator

Obviously the Harry Potter books are huge and that’s the reason for the increase in profits, but hopefully this will continue as more people realize how great reading is because of the Potter books. I LOVE the movies but nothing beats reading the books.

Posted by Hedwig on March 31, 2008, 12:55 AM report to moderator

I am not Surprise at all, I mean come on it is the Best book ever. yesterday i went to Walmart and guess what? “Deathly Hallows” is in the best seller shelf i loved that i was so exited and happy.

Posted by Picazo on March 31, 2008, 01:16 PM report to moderator

This is very surprising indeed considering Bloomsbury were going to cancel publication due to lack of demand. I suppose there are a few Harry Potter readers after all :)

Posted by Professor Potter on April 01, 2008, 01:42 PM report to moderator

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