Harry Potter Book Won’t Mean Bigger Profits
Harry Potter books have given the book industry a touch of Hollywood in that the release of next book in the children’s fantasy series brings out hoards of fans like that of a Star Wars, Spider Man, or Lord of the Rings premiere. While bringing in millions into bookstores Harry doesn’t bring much upside to profits since competition from multiple sources forces prices to be cut. That’s what’s happening with the final Harry Potter book coming out in July:
The Times reports that HMV boss Simon Fox has warned investors that the seeming cash cow known as HARRY POTTER AND THE DEATHLY HALLOWS is really far, far from that. Even though Waterstone’s had already sold nearly as many by preorder as were sold in total of the sixth Harry Potter book, because Fox said it was vitally important for the bookstore chain to offer the book at a competitive price – and so Harry 7 will be on sale for 8.99 pounds, roughly half the cover price – it would be “hard to make money”. Fox added that “if we try to be anything other than half price we are setting the Waterstone’s brand off as high price and that’s something we are trying to change.”
It will be just as bad in the U.S.
Three groups will be raking in the dough off the last Harry Potter adventure: publishers Scholastic in the U.S.; Bloomsbury in the U.K.; and author J.K. Rowling. The rest hope you buy a lot of lattes and extra books to go along with your copy of Harry Potter.
“Harry Potter and the Continuing Price Wars”
