Bloomsbury Publishing new IR head hails the success of Sarah J. Maas franchise
London, UK
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February 13, 2024 09:03 AM Eastern Standard Time
Bloomsbury Publishing's new head of investor relations Tamsin Garrity discusses the significant success of Sarah J. Maas's latest novel, "‘House of Flame and Shadow," which achieved global number-one status on Amazon upon its release.
In an interview with Proactive's Stephen Gunnion, Garrity noted that this marks Maas's 16th book published by Bloomsbury, with six more titles under contract. Garrity highlighted the remarkable 79% year-on-year sales growth attributed to Maas's works, which also bolstered sales of her backlist titles.
The popularity of the fantasy and sci-fi genre, as reported by Nielsen BookScan, has grown by 54% in the last five years in the UK, a trend that Bloomsbury is capitalizing on by representing other renowned authors within this genre, including Samantha Shannon, Susanna Clarke, Alan Moore, and Cixin Liu, whose "Three-Body Problem" series is anticipated to be a major Netflix release.
Garrity also shared insights into her background and the reasons why Bloomsbury presents a unique investment opportunity. She emphasized Bloomsbury's diversified strategy, balancing academic and consumer publishing, which appeals to portfolio managers.
The company's international revenue, digital and audio diversification, and successful acquisition strategy were highlighted as key factors in its growth and attractiveness to investors. Bloomsbury's ability to generate cash allows for reinvestment in its portfolio and acquisitions, contributing to the company's confident and ambitious outlook. With a 127% earnings growth over the last five years, Bloomsbury is positioned for continued success in the publishing industry.
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