and more.
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Webtoon Entertainment Will Go Public
The webcomic giant had worldwide revenue of more than $1.2 billion last year, and paid creators more than $2.8 billion between 2017 and 2023.
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Barnes & Noble Education Cuts Loss on Small Sales Gain
Barnes & Noble Education has released preliminary financial results that showed company revenue rising 1.5% in the fiscal year ended April 27, 2024, and net loss falling to $63 million, from $90 million a year ago. Total sales were $1.57 billion. B&NE expects to receive final approval for a refinancing package in June.
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Sarah J. Maas Flies Bloomsbury to Record Highs
Sales of books by the romantasy superstar rose a total 161% in fiscal year 2024, leading to a 57% jump in profits on a 30% increase in sales for Bloomsbury in the year ended February 29.
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EDC Has Small Fiscal 2024 Profit Despite Big Sales Decline
Sales and profits at Educational Development Corp. soared in the early months of the pandemic, but the company has labored to downsize its business after overexpansion led to rising expenses.
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Publishing Industry Sales Were Flat in the First Quarter of 2024
Trade publishing sales saw declines in the first quarter, precipitated by drops in the adult nonfiction and children's/YA categories, although audio continues to be a bright spot.
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HarperCollins Profits Slow Down in the Third Quarter
HarperCollins eked out only a small profit in its latest quarter, with a 14% increase in digital audiobook sales insufficient in offsetting softer sales to Walmart and Costco and slowing sales of romance books and children's books.
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U.K. Publishing Sales Rose 3% in 2023
Revenue for U.K. publishing in 2023 was £7.1 billion, about $8.9 billion at current exchange rates, the U.K.'s Publishers Association reported. Growth areas included exports and digital audiobooks, which saw double digit growth.
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Full Steam Ahead for Amazon in Strong First Quarter
Driven by its cloud computing unit, sales and earnings at Amazon posted big first-quarter gains this year.
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First Quarter Sales Rose 3% at HBG
Good performances at its English-language divisions, including a 3% gain at Hachette Book Group, helped to increase first-quarter sales at Lagardère Publishing to €576 million, a 1.1% gain over 2023.
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With Nonfiction Soft, Print Book Sales Fell 1.7% in First Quarter
Led by books by Sarah J. Maas and Rebecca Yarros, fiction sales were up in the first quarter this year, but nonfiction declines resulted in a 1.7% drop in total unit sales of print books.
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