Harry Potter Books aren’t that popular anymore

People had taken to reading big time during the pandemic although with the health scare receding from most parts of the world, reading books is no longer as much in demand. Many publishers reported negative growth in profits in the post-pandemic scenario and now, as Mugglenet stated in a report, Pottermore Publishing too witnessed a sharp 40 percent dip in its profits for the year 2022 compared to what it was in the year prior to that. .

According to the figures put forth by Pottermore, the sale of Harry Potter e-books and audiobooks contributed to a pre-tax profit of £5.7 million or $6.8 million in the year leading up to March 31, 2022. That however is 40 percent less compared to the £9.5 million ($11.4 million) pre-tax profit that Pottermore generated in 2021, which again has been a huge 150 percent improvement over the £3.8 million ($4.5 million) pre-tax profit that Pottermore generated in 2020. The publisher however is still upbeat about the future and is claiming demand for e-books and audiobooks continues to be strong.

Pottermore Publishing has been publishing e-books on the Harry Potter series, Fantastic Beasts, as well as Wizarding World books. Those have been published in more than 25 languages ​​worldwide and enjoy a dedicated fan following that covers almost the entire world. It entered into a partnership with Storytel in 2016 to bring Harry Potter audiobooks to Storytel’s subscribers all over the world.

Earlier this year, Pottermore Publishing announced they are scaling up their partnership with Storytel which will see the production of Harry Potter audiobooks in 10 different languages, those being Dutch, Korean, Bulgarian, Turkish, Danish, Polish, Swedish, Finnish, Russian, and Brazilian Portuguese. The audiobooks are slated to be ready for consumption by next year.