Pottermore witnesses surge in profits with pre-tax gains reaching £9.4 million

January 2, 2024.
Pottermore witnesses surge in profits with pre-tax gains reaching £9.4 million
Pottermore witnesses surge in profits with pre-tax gains reaching £9.4 million

Pottermore, the prominent global digital audiobook and e-book publisher responsible for J.K. Rowling’s renowned Harry Potter series and affiliated Wizarding World titles, experienced a notable uptick in pre-tax profits for the fiscal year 2023. The figures soared to £9.4 million, marking a substantial increase from the previous year’s £5.7 million. In the same period, revenues exhibited a noteworthy surge, reaching £48.2 million by the conclusion of the 12 months on March 31, 2023, compared to the £37.8 million recorded in 2022.

As the current fiscal year progresses towards its conclusion on March 31, 2024, trading activities have aligned seamlessly with management expectations. The sales performance of Harry Potter e-books and digital audiobooks remains robust.

Jennie McCann, Pottermore’s Managing Director, highlighted significant milestones, including achieving one billion hours of Harry Potter listening on Audible, commemorating the 25th anniversary of the first book’s release in Germany, concluding the publication of the entire Harry Potter series in Mandarin Chinese, and unveiling new audio recordings of Hogwarts Library titles in various markets like the Netherlands, Bulgaria, and Denmark. These achievements underscore Pottermore Publishing’s ongoing commitment to connecting readers and listeners worldwide with the enchantment of these extraordinary narratives.

McCann stated, “We continue to look for ways to grow partnerships, build our language catalogue and reach new audiences with creative and promotional initiatives such as the annual Starting Harry Potter campaign for new readers.” She expressed pride in Pottermore recently becoming a signatory of the Publishing Accessibility Action Group (PAAG) Charter, emphasizing the continuous efforts to enhance the accessibility of books and audiobooks to support a diverse readership.

Pottermore Publishing continues to distribute its extensive catalog globally through a network that includes esteemed online retail and library partners like Amazon, Apple, Audible, and Bookbeat, among others.

Source: The Bookseller