PRH Sales Rose 8.5% in 2024, Topping $5 Billion

Higher book prices, the continuing strength of the audiobook market, and acquisitions combined to lift worldwide sales 8.5% at Penguin Random House in 2024 over 2023 and profits rose 11.3%, reported parent company Bertelsmann. Revenue increased to €4.9 billion ($5.3 billion at current exchange rates) and operating EBITDA (earnings before interest, taxes, depreciation, and amortization) rose to €739 million from €664 million in 2023. Bertelsmann said PRH, which had a challenging 2023, performed better than expected.

Acquisitions played a particularly important part in boosting sales in the U.S. Its January 2024 purchase of Hay House added €73 million to sales last year. PRH paid €85 million for Hay House, of which €50 million was paid in cash with the balance being paid in four equal annual installments. Also during 2024, PRH acquired Boom! Studios and the publishing assets of Amber-Allen Publishing, while upping its stake in high-flying Sourcebooks to 75% from 53% in 2023.
more at: https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/97449-prh-sales-rose-8-5-in-2024-topping-5-billion.html

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