Bloomsbury Swaps Wizards for Whisks

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May 20 (Bloomberg) –- Bloomsbury Publishing CEO & Founder Nigel Newton discusses how his company has gone from publishing the Harry Potter series to publishing cookbooks and academic books and where he sees growth in publishing. He speaks to Anna Edwards on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

The program.

Tell me about would be correct to say life after potter or you are still selling some of those.

Tell me about how you transitioned away from selling quite so many harry potter books.

We were extremely lucky.

We were the publisher did not say no to harry potter and over 14 years it generated millions of pounds of cash flow.

We reinvested the money slowly over those years into 23 different acquisitions many of which were extremely steady and dull.

Subjects like tax.

We have built up a substantial academic division and we have turned lounsbury into what is a form publisher as strong a negative publishing as an consumer publishing.

Where reporting a terrific year where turnover has been up 11% and profit before tax up 4%. academic division is soaring up the ladder.

It is going into publishing folklore.

That you gave the harry potty -- harry potter manuscript to your daughter who liked it and fell in love with it and ask for another one.

It is true.

That is the myth and that is a great deal.

The book was taken on by our editor barry cunningham.

I did take my copy home and give it to my then-eight-year-old daughter and he -- she said this is better than anything you have ever published.

Tell me about the transition towards e-books.

How are you coping with that transition?

Our industry has been a winner in the digital revolution.

People are reading books.

They can be accessed on for hours a day seven days a week.

We consider ourselves in a golden age.

It is complicated the transition for the industry, it is having a negative impact on traditional booksellers.

How do you manage the power games?

They are a big presence these days and bookselling.

They have been critical about the amounts they put on publishers.

Do you feel under pressure?

People and businesses are like farmers, they're always complaining about something.

That is a nice album to have.

What our relations like, how much time do you spend managing that kind of relationship, that is one of the big hearts of the job.

Is not a big part of my job.

It is a big part of every publishers job.

And the opportunities are incredible.

Tell me about the different things you have.

You have gone into academic books and children's books and cookery books are a big seller.

We -- nothing we do is boring.

In our specialist divisions we just launched the world of labor which is a knowledge hub about labor economics, integration, unemployment, gender balance, the big issues of our time and it provides evidence for policy makers to access.

It is a terrific new example of the big knowledge infrastructure project that you could only undertake in the digital age where we have worked closely with and institute in bonn whose project this is.

It is -- that seems to be a big theme in publishing.

Cookery is eager than ever.

And the spectacular year that we have had, cookery but the charge.

You have all that delicious and fattening food.

We had a run of books on baking bread, pies, and puddings.

These are the rock stars of the present.

I am not very hungry.

This text has been automatically generated. It may not be 100% accurate.

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