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Entertainment

Rowling's magic to net profit for Pottermore

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Entertainment

Rowling's magic to net profit for Pottermore

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COMING UP:Rowling's magic to net profit for Pottermore

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00:00:01
>> Conjuring more sales from the boy wizard. Pottermore, JK Rowling's digital publishing company, expecting to turn a profit this fiscal year. The magic touch of one of the world's most popular authors turning a fan community site where she also self-publishes into a growing e-commerce enterprise, selling e-books and audiobooks.
00:00:21
Last fiscal year, Pottermore narrowed its pre-tax losses. This year, it should inch into the black. That's down to a change in tactics as Reuters technology correspondent Eric Osha explains.>> In 2015, it started working with the Amazons, the Apples, the Googles. And it's that change in strategy that's moving the company into profitability.
00:00:44
It's still only generating about 15, well, in the last year, it generated about 15 million pounds in revenue. So it's still a small, small piece of the overall Harry Potter franchise.>> For legions of fans who can't get enough, Pottermore has published new e-book versions of the original Harry Potter books, as well as short writings by Rowling that delve behind the characters, stories and settings imagined in the wizarding realm.
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Last week, it published her screenplay for the Potter spinoff, Fantastic Beasts and Where to Find Them. Publishing wizardry it may be, but Pottermore is still dwarfed by the main Potter franchise. The seven original books have sold more than 450 million copies worldwide.>> There's absolutely nothing to worry about.
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