Publishers Confront Slow Growth
There has been little growth in total publishing sales in recent years in the U.S. and in most Western nations, and that difficult operating environment was reflected in the financial performance of three of the world’s largest publishers that have substantial holdings in the U.S. Penguin Random House and HarperCollins had small (less than 1%) declines in revenue in 2017 compared to 2016, while Lagardère Publishing’s sales inched up 1.1%. Simon & Schuster and Houghton Mifflin Harcourt’s trade division—the two smallest of the large publishers who report financial results—both did substantially better on both the top and bottom lines than their bigger rivals. Click Read More below for additional information.