Digital publisher of Harry Potter sees pretax profit rise to £6.9m although revenue dips slightly.
Good sales of the original Harry Potter series across e-books and audio helped Pottermore to an increase in profit to £6.9 million for the year ending March 2019.
However, the digital publisher of Harry Potter – which shifted its content to Wizardingworld.com last year, a joint venture with Warner Bros. – also posted a revenue decline for a second consecutive year, reported The Bookseller.
Pottermore recorded sales of £31.5 million for the period, down from the £32.8 million in the year ending March 2018.
However, the company said this was in line with management expectations and that digital publishing sales had benefited from more global distribution and the continued popularity of the Harry Potter stories. New product and 20th anniversary activity in the US was also a factor.
Neil Blair, chair of Pottermore, was quoted by The Bookseller saying that trading in the year to March 31, 2020 has so been in line with expectations, with sales of e-books and digital audiobooks remaining “extremely strong”.
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