Bloomsbury reports 'resilient' demand for books with 18% lockdown revenue increase
A UK publisher has today announced that it has seen an 18 per cent upswing in year-on-year revenues for the lockdown period.
Bloomsbury Publishing, which is based in London, reported that its revenues jumped from £42.1m in 2019 to £49.49m in 2020, for the four months to June.
The company said that while print revenues rose by 9 per cent, the largest increase was in its digital revenues, which grew by 63 per cent year-on-year.
There may be expansion in the company’s future as well, as it confirmed that it is considering ‘opportunities’ in academic publishing.
It said: “Our digital strategy has placed us well to benefit from increased demand for digital resources, audio and e-books during the pandemic. Academic institutions are facing changes in their student mix, with fewer international students, and their higher fees.
“Our good May and June performance in particular were unexpected, and historically demand for books has been resilient in times of economic downturns.
“However, our customers are unclear about what is to follow. Our outlook in the next eight months therefore remains uncertain as the pandemic continues.
“Bloomsbury has a successful track record of acquisitions and we are considering opportunities in academic publishing.”
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