HarperCollins Get Global and Physical
With the e-book market showing no signs of returning to robust growth, two of HarperCollins’s main priorities in fiscal 2018 are global expansion and broadening its distribution base in North America, HC’s CEO Brian Murray told PW after the release of the publisher’s financial results for the fiscal year ended June 30, 2017. In the just-concluded year, EBITDA (earnings before interest, taxes, depreciation, and amortization) was $199 million, 7.5% higher than in fiscal 2016, despite a decline of $10 million in sales. Several factors impacted HC’s sales performance: there was one fewer week in the fiscal 2017 than in fiscal 2016, which cost $19 million, and the company suffered from the negative impact of currency fluctuations.
Murray said he was “thrilled” with fiscal 2017 from both a publishing and financial standpoint and that the continued decline in e-books isn’t a major concern at the moment. He noted that, in the North American market, gains in print book sales and digital audio made up for the drop in e-book sales and that HC’s print frontlist and backlist sales were almost strong enough to match the revenue generated in fiscal 2016 by Go Set a Watchman. Among the company’s top-selling titles in the year were Hillbilly Elegy by J.D. Vance, The Magnolia Story by Chip and Joanna Gaines, and Jesus Calling and Jesus Always by Sarah Young. Click Read More below for more of the story.