Bloomsbury ‘exploring the opportunity’ of AI deals, Sarah J Maas sales soar

In the UK, Bloomsbury has announced its interim results for the six months to the end of August, reporting revenue growth of 32% to £179.8 million (A$354.1m), according to the Bookseller.

The Bookseller also reported that the company was ‘exploring the opportunity’ of monetising content through AI deals in a ‘responsible and ethical manner’, but that no deals had so far been confirmed.

Sales of books by Sarah J Maas, which grew by 102% during the period, contributed to strong growth in the company’s consumer division, where revenue was up 47% to £131.3 million (A$258.6m), according to the Bookseller, while profit before taxation and highlighted items in this division was up 91% to £21.4 million (A$42.2m). Consumer revenue accounted for 73% of the publisher’s overall revenue, while academic and professional accounted for 21% and special interest 6%.

In its report, Bloomsbury said sales in the Australian market represented 4% of the company’s overall revenue for the period. This would put Australian revenue at approximately £7.2 million (A$14.2m).

Bloomsbury chief executive Nigel Newton said the company’s integration of Rowman & Littlefield, which it acquired in May, was progressing well, and would ‘accelerate [Bloomsbury digital resources’] growth, as Bloomsbury applies its proven ability to create digital revenues to Rowman & Littlefield’s market leading titles’.

Newton added: ‘Following our strong performance in the first half of this year and good trading in September and October, we now expect trading for the full year 2024/25 to be ahead of the current consensus expectation.’

Category: International news