According to Publisher’s Weekly, Penguin Random House has had a frustrating time, with sales rising but profits dipping:
“Sales at Penguin Random House rose 7.3 percent in 2023 over 2022 due to a combination of acquisitions and organic growth, parent company Bertelsmann reported. Worldwide revenue increased to €4.53 billion (about $4.92 billion at current exchange rates), but profits fell by €2 million, to €664 million (about $720 million). The drop in EBITDA (earnings before interest, taxes, depreciation, and amortization) was due to higher costs and the negative impact of exchange rates, Bertelsmann said. As a result, PRH’s operating margin fell to 14.6 percent, from 15.8 percent in 2022.”
A bright spot – Penguin’s “Who Was?,” “What Was?,” “Where Is?” and “What Is the Story Of?” books, more than 350 titles that tell the stories of trailblazers, legends, innovators, engaging places and important events. The Fairfield University Store will be host to one of three Official “Who Was”’ Ultimate Fan Experiences in Connecticut, which will take place from noon to 3 p.m. on Saturday, Aug. 3, at the downtown bookstore, 1499 Post Road, Fairfield.
This free family event will include a “Who Was?” trivia show; a Who are You? photo op; voting for the next “Who Was?” book subject; a craft and activity table; and a prize wheel.
The event is recommended for readers ages 6 and up. For more, visit the official “Who Was?” Ultimate Fan Experience site.
