February 22, 2005

They're tearing their hair instead of their bodices at Harlequin . . .

by

A “sharp fall in revenue” at Harlequin Books has parent company Torstar Corp. worried. According to a Globe & Mail report by Richard Blackwell, “The romance fiction publisher has been suffering from soft sales, and investors are holding their breath to see how — and if — the company can turn itself around by embracing more international markets and adding new lines of books.” The problem, according to one analyst: “is that the company is shifting from its roots in the stable, high-margin business of selling books in series. It is now adding single-copy sales, a much more competitive and difficult business.” But Harlequin v.p. Diego Castelli “blames the recent softness on a shift by traditional Harlequin readers to buying big blockbuster books — such as The Da Vinci Code and various Atkins diet books — from other publishers.”

Dennis Johnson is the founder of MobyLives, and the co-founder and co-publisher of Melville House.

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