HarperCollins experienced a 4% growth in global revenues, reaching $550 million (£436 million) in the three-month period ending on December 31, 2023, compared to the corresponding period last year. This increase was primarily attributed to the surge in digital sales, particularly in audiobooks, which also benefited from improved return rates. News Corp, the parent company, reported a notable 67% rise in EBITDA, reaching $85 million (£57 million), driven by augmented revenues and reduced costs in manufacturing, freight, and distribution, partly due to a favorable product mix and the absence of previous year supply chain challenges and inflationary pressures, albeit offset by increased employee expenses.

Specific titles that contributed significantly to the quarter’s performance included “The Pioneer Woman Cooks – Dinner’s Ready!” by Ree Drummond, “The Little Liar” by Mitch Albom (published by Sphere in the UK), “Tom Lake” by Ann Patchett (published by Bloomsbury in the UK), and “My Effin’ Life” by Geddy Lee.

Digital sales witnessed a noteworthy 15% uptick compared to the preceding year, driven by robust market growth in downloadable audiobook sales and a new partnership with Spotify. Digital sales accounted for 21% of consumer revenues for the quarter, up from 19% the previous year, with audiobooks constituting roughly half of digital revenues.

Backlist sales also displayed a positive trajectory, representing approximately 60% of consumer revenues, compared to 57% in the previous year. CEO Robert Thomson expressed satisfaction with the overall group results, anticipating further growth opportunities as challenging macroeconomic conditions ease in certain markets. Additionally, Thomson emphasized News Corp’s role as a core content provider for generative AI companies, advocating for the protection of intellectual property rights in the AI landscape.