What now for Harry Potter publisher?
The publisher of the Harry Potter books had a fantastic profit report for last year. But Bloomsbury doesn't have any more Potter books. What now? Stephen Beard reports from London.
Cover of the book Harry Potter and the Goblet of Fire (Justin Sullivan/Getty Images)
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Scott Jagow: The publisher of the Harry Potter books just turned in a fantastic profit report for last year. But Bloomsbury doesn't have any more Harry Potter books to publish. So what now? Stephen Beard reports from London.
Steven Beard: Harry Potter's farewell flourish has worked its magic on Bloomsbury's bottom line. The last book in the series helped double the company's revenues last year to $300 million.
The teenage wizard has delivered bumper profits for the firm since the first book a decade ago. He's earned the author J.K. Rowling an estimated $1 billion. Bloomsbury's CEO is putting a brave face on Harry's departure. He says the company is well-positioned for the post-Potter era.
Ben Fenton of the Financial Times says revenues will certainly be more stable:
Ben Fenton: You know, the profits graph for Bloomsbury over recent years has kind of resembled the track of an out-of-control wizard on a very powerful broomstick. Up and down, and up and down.
Bloomsbury's new titles are not likely to have the Potter effect. There's a biography of Warren Buffet and a series of financial reference books for one of the Gulf States.
In London, this is Stephen Beard for Marketplace.
