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HarperCollins 1st Quarter Sees Decrease

Has wunderkind Jane Friedman lost her touch? After 9 straight years of record profits, first quarter sales for fiscal year 2007 (fiscal meaning budgetary year v. calendar year) were down 6%

Part of the decreased profits are blamed on capital investments in digital and global projects. HarperCollins “has now digitized 12,000 titles as part of its digital warehouse and will add 200 to 500 titles a week to the Browse Inside feature which enables customers to search books from the HarperCollins website. The Digital Media Cafe opened as well, featuring exclusive audio for purchase and free audio samples.

Jane Litte is the founder of Dear Author, a lawyer, and a lover of pencil skirts. She spends her downtime reading romances and writing about them. Her TBR pile is much larger than the one shown in the picture and not as pretty. You can reach Jane by email at jane @ dearauthor dot com

One Comment

  1. Carly
    Nov 18, 2006 @ 23:52:40

    Empowering Judith Regan is a clear sign of Friedman’s lack of “touch”. Who on Earth would greenlight a book from OJ Simpson with the implausible title, “If I Did It…”? HarperCollins clearly lacks basic ethics. Regan issued a statement describing this publication as Simpson’s confession – a slick (but not very savvy) way of distancing herself from what is an obvious attempt at cashing in on the sensationalism of the case. You wouldn’t expect much from OJ Simpson (or Regan, for that matter) but I would have expected HarperCollins to squash the idea.

    I suspect readers will look to the source of this debacle, and Harpers will experience an even greater decline. But more than money, I wonder how Friedman sleeps at night knowing she’s had a hand in reopening the wounds of the Goldsmans, the Browns, and Nicole’s children. In a word, disgusting.

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