HarperCollins Global Revenues Grow 4% Thanks to Higher Digital Sales

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 … Continue reading HarperCollins Global Revenues Grow 4% Thanks to Higher Digital Sales

Spotify says it has paid audiobook publishers ‘tens of millions’ in royalties

Spotify has compensated audiobook publishers with “tens of millions” through its Premium subscription, stressing “100% royalties.” The Society of Authors (SoA) expressed concerns about transparency in the deals, while Audible faces competition fears. Spotify credits exponential sales growth to its competitive payout structure, but the SoA emphasizes the need for clarity and separate notation of Spotify revenues. Continue reading Spotify says it has paid audiobook publishers ‘tens of millions’ in royalties