As quarantine continues, Harry Potter publisher reports rise in profits
By Ariba Bhuvad
Unsurprisingly, a lot more people are reading books as they quarantine during the pandemic, which is excellent for publishers.
2020 has been a year none of us will ever forget, even if we’d like to. With the coronavirus raging around the world, people are spending a lot more time quarantined at home, taking solace in all sorts of activities. Personally, I’ve opted to do more reading, and it looks like a lot of others are on the same page. In fact, Bloomsbury — the original publisher of the Harry Potter books, among many others — recently reported that its earnings for the first half of the year are the highest they’ve been since 2008, with a 60% rise in profits and a 17% rise in revenue.
The publisher said that the public had “rediscovered the pleasure of reading” during lockdown. It’s unfortunate that it took a global pandemic to get us here, but it’s true that there’s nothing quite like curling up in your favorite spot and reading a good book.
Sales of Harry Potter books alone have increased by 8% between mid-July and the end of September. That’s despite author J.K. Rowling getting blowback for publicly embracing transphobia, which has cast a shadow over the franchise in general. Ultimately, that conversation probably isn’t reaching most people who just want something fun to read while they wait out the plague. Given the current state of the world, everyone could use a little escapism right now, and Harry Potter is a great way to get it.
I’m ecstatic to see that people seem more interested in books. Streaming has gone way up, as well, but it’s great to return to the sources of a lot of our favorite movies, TV shows and video games. After all, the book is often better anyway.
Earthsea and 9 more epic sc-fi and fantasy series to read in lockdown. dark. Next
To stay up to date on everything fantasy, science fiction, and WiC, follow our all-encompassing Facebook page and sign up for our exclusive newsletter.
Get HBO, Starz, Showtime and MORE for FREE with a no-risk, 7-day free trial of Amazon Channels
h/t Business Insider