Harry Potter writes book on profit
April 6, 2006
By Saeed Shah
London - Bloomsbury Publishing had at least five more years of launches to come from its blockbuster Harry Potter franchise, the company declared this week, even though there was only one more book left in the series.
The group said that between the paperback editions, special editions and film versions, the momentum behind the Harry Potter books would continue until 2011 or later. Then the franchise would change gear as it became part of the backlist.
"It will probably constitute one of the most significant backlists in modern publishing history," said Nigel Newton, Bloomsbury's chairman, as he unveiled the financial results for 2005. Pretax profit for 2005 climbed 24 percent before exceptionals to £20.1 million (R217 million). Turnover jumped 29 percent to £109.1 million.
The sixth book in the series, called Harry Potter and the Half-Blood Prince, which was released last year, broke all previous sales records for the franchise.
The seventh and final Harry Potter title was still being written by JK Rowling and it had no release date as yet, Newton said.
Among the books to be published by Bloomsbury this year are political diaries from the UK's former home secretary, David Blunkett, and the collected speeches of UK chancellor of the exchequer Gordon Brown.
The company announced it would make its largest investment in a new publishing area, setting aside £15 million in advances for celebrity title.
In the schedule are books by the boxer Amir Khan, by David Thomson on actress Nicole Kidman and by Dave Marsh on rock legend Bruce Springsteen. - The Independent
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