Bloomsbury Bets on Sarah J. Maas as Shares Dip on First-Half Sales Decline
The publisher anticipates strong second-half performance, driven by anticipated demand for Maas's new novel and potential boosts from Harry Potter tie-ins.
Bloomsbury, the publisher known for the Harry Potter series, is placing significant expectations on the upcoming novel by best-selling author Sarah J. Maas to drive record annual sales. However, the company's shares experienced a decline following a 5 percent decrease in book sales during the first half of the year.
Nigel Newton, chief executive and founder, expressed confidence, stating, “There is no question that Sarah Maas is probably the biggest phenomenon in the literary world at the moment.” He noted that the group's sales are typically weighted towards the second half of the year, suggesting the company remains on track to meet its targets.
The second half of the year is set to see the release of "many of our best-selling authors," including Gillian Anderson's "More" and Stephen Graham's "Letters to Our Sons," both of which have already become Sunday Times bestsellers.
Bloomsbury has reported "simply staggering" advance sales for Maas's latest book, a blend of romance and fantasy. The next installment in her "A Court Of Thorns And Roses" series is scheduled for release on October 27, with another expected in January 2027. The series, which began in 2015, has gained significant traction, partly due to attention on social media platforms like TikTok. The long wait for a new chapter, with the last book released in 2021, has heightened anticipation among fans.
Additionally, Bloomsbury anticipates a surge in sales for J.K. Rowling's Harry Potter series, coinciding with HBO's planned television adaptation. Tie-in editions of "Harry Potter and the Philosopher's Stone" will be available in major supermarkets, aiming to introduce the series to a new generation of readers.
Despite these anticipated boosts, the company's profits nearly halved to £9.3 million for the six months ending August 31, compared to £18.3 million in the same period last year. Overall sales decreased by 5 percent to £151.6 million, primarily due to a 9.3 percent drop in the consumer division.