Pottermore Publishing revenue rises by 23% and profits by 150%
January 31, 2022
The Bookseller reports that Pottermore Publishing, the digital content company for J K Rowling’s Wizarding World, saw revenues rise by 23% to £40.4m while pretax profits rocketed 150% to £9.5m. The company reported details of its financial results covering the period for the 12 months to 31st March 2021. Revenues saw an uplift of 23% from £32.5m in 2020 to £40.4m while pretax profits soared from £3.8m to £9.5m.
Pottermore Publishing said in their report:
Pottermore Ltd had an exceptional year benefitting from a significantly increased appetite for digital reading during the pandemic, strong sales performance of the Harry Potter e-books and digital audiobooks and continued investment in franchise planning in partnership with Warner Bros.
The Harry Potter At Home campaign, delivered by Wizarding World Digital LLC, further supported reading during the lockdown of 2020. This saw celebrities from the Wizarding World and beyond read from Harry Potter and the Philosopher’s Stone (Bloomsbury Children’s). The chapter reads were made available free of charge on www.wizardingworld.com. Pottermore Publishing also worked with partners such as Audible and Overdrive during this time to allow free access to the audio book and e-book of Harry Potter and the Philosopher’s Stone in multiple languages.
Sales of Harry Potter e-books and digital audiobooks remain solid and 2021/22 is set to deliver another profitable performance. The company is also investing in staffing, and reserach and development.
We’re so pleased to deliver another good result from Pottermore Publishing. In the current environment, reading feels more important than ever and we’re so glad Harry Potter continues to provide enjoyment and solace for so many, nearly 25 years on. We will continue to invest in growing the business as we bring the original series to new generations in additional languages and territories, alongside championing innovation and growth across formats.