Has lockdown written a new chapter for the book industry?
Bloomsbury reports best half-year profits since 2008 and sales of classic long reads have boomed
Lockdown and social distancing measures may have had a negative impact on many sectors of the UK’s economy, but for the book industry the Covid-19 restrictions have had the opposite effect.
Research published in May by Nielsen found that two in five UK adults were reading more books since the lockdown began in March. And as a whole the nation’s time spent reading books had increased from 3.5 hours per week on average to six hours.
Publishers are also seeing the positive effects of people spending more time at home.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Bloomsbury, publisher of the Harry Potter series, has reported its best half-year results since 2008 with profits from February to August increasing by 60% to £4m. Online book sales and e-book revenues were both “significantly higher”, and during the period total sales across the group rose by 10% to £78.3m, BBC News reports.
‘Unseasonably busy’
Bloomsbury believes that people have “rediscovered the pleasure of reading” and there had been a “real uptake”. Founder and chief executive Nigel Newton said: “Perhaps people tired of watching streamed movies which they binged on to begin with and turned to books.”
With a renewed enthusiasm for books and the festive season approaching, bookshops are “unseasonably busy”, the BBC adds.
Philip Jones, editor of the Bookseller trade publication, said: “We are seeing an early Christmas for bookshops. November’s book sales are happening in October. Normally the bookshop market gets up to 40 million units per week in November, but it has already happened.”
‘Alluring’ long reads
Book lovers have also used the pandemic to catch up on long classic novels. The “appeal of a seriously long read has never been more alluring”, says The Guardian.
According to Penguin Random House, sales of its edition of War and Peace (1,440 pages) have increased 69% in the UK so far this year. The publisher has also seen a rise in sales of classic long reads such as Don Quixote (1,056 pages, up 53%), Anna Karenina (865 pages, up 52%), Middlemarch (880 pages, up 40%) and Crime and Punishment (720 pages, up 35%).
“We were expecting possibly to see a spike in comfort reads, like cosy crime or light comic novels,” said Penguin Classics editorial director Jess Harrison.
“Instead it seems that readers have been inspired in lockdown to tackle the great literary monuments - the books that maybe they’d always intended to read, but never before now had the time to embark on.”
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Mike Starling is the former digital features editor at The Week. He started his career in 2001 in Gloucestershire as a sports reporter and sub-editor and has held various roles as a writer and editor at news, travel and B2B publications. He has spoken at a number of sports business conferences and also worked as a consultant creating sports travel content for tourism boards. International experience includes spells living and working in Dubai, UAE; Brisbane, Australia; and Beirut, Lebanon.
-
Putin says Russia isn't weakened by Syria setback
Speed Read Russia had been one of the key backers of Syria's ousted Assad regime
By Peter Weber, The Week US Published
-
Georgia DA Fani Willis removed from Trump case
Speed Read Willis had been prosecuting the election interference case against the president-elect
By Rafi Schwartz, The Week US Published
-
Democrats blame 'President Musk' for looming shutdown
Speed Read The House of Representatives rejected a spending package that would've funding the government into 2025
By Peter Weber, The Week US Published
-
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Speed Read Britain is currently in the grip of an ‘employment crisis’
By The Week Staff Published
-
Will the energy war hurt Europe more than Russia?
Speed Read European Commission proposes a total ban on Russian oil
By The Week Staff Published
-
Will Elon Musk manage to take over Twitter?
Speed Read The world’s richest man has launched a hostile takeover bid worth $43bn
By The Week Staff Last updated
-
Shoppers urged not to buy into dodgy Black Friday deals
Speed Read Consumer watchdog says better prices can be had on most of the so-called bargain offers
By The Week Staff Published
-
Ryanair: readying for departure from London
Speed Read Plans to delist Ryanair from the London Stock Exchange could spell ‘another blow’ to the ‘dwindling’ London market
By The Week Staff Published
-
Out of fashion: Asos ‘curse’ has struck again
Speed Read Share price tumbles following the departure of CEO Nick Beighton
By The Week Staff Published
-
Universal Music’s blockbuster listing: don’t stop me now…
Speed Read Investors are betting heavily that the ‘boom in music streaming’, which has transformed Universal’s fortunes, ‘still has a long way to go’
By The Week Staff Published
-
EasyJet/Wizz: battle for air supremacy
Speed Read ‘Wizz’s cheeky takeover bid will have come as a blow to the corporate ego’
By The Week Staff Published