Bloomsbury Publishing has revealed that it is increasingly scouring social media platforms to discover new authors, capitalising on the success of fantasy writer and BookTok sensation Sarah J Maas. The publishing firm reported an exceptional number of pre-orders for the latest instalment in Maas's series, A Court Of Thorns And Roses.
The highly anticipated sixth and seventh titles were announced in March on Alex Cooper's Call Her Daddy podcast, prompting Bloomsbury to upgrade its profit expectations for the coming year and causing a surge in its share price. Advanced sales for the sixth book, priced at £25 in hardback, were significantly higher than previous titles.
Nigel Newton, founder and chief executive of Bloomsbury, told the Press Association that the company was one of the original beneficiaries of the BookTok trend on TikTok, which has attracted a new cohort of younger readers. He emphasised that the publisher has been increasingly using social media to sell and find books, with a dedicated team focused on this task. This approach led to signing book deals with Poppy O'Toole, a chef who built a following of millions with her cooking content before authoring a series of cookbooks.
Bloomsbury, which also publishes JK Rowling's Harry Potter series, noted that the upcoming HBO television adaptation is expected to generate fresh demand and drive sales of the books. However, the company highlighted that its academic and professional division has been the primary driver of sales growth, helping to offset declining revenues in its consumer arm over the past financial year.
Following an AI licensing deal last year, Bloomsbury now sells academic works to train generative AI programmes. The company said more subject areas are being considered for AI training, and authors have the option to opt into the scheme, receiving royalties if they allow their work to be used.
Additionally, the opening of a new base in Singapore will create opportunities to commission local content and tap into the large student population in the Asia region. Bloomsbury reported total revenues of £325.9 million for the year ending in February, down from £361 million the previous year, yet pre-tax profits rose by 7% to £44.9 million.
