Galley Cat talks about one of the most anticipated releases in genre publishing, Harry Potter and the Deathly Hallows. The UK site Times Online is reporting that the book may not be the revenue savior that people anticipate.
Bottom Line; it will generate sales, but not profits:
The seventh and final adventure of the young wizard, Harry Potter and the Deathly Hallows, comes out on July 21 and Simon Fox, the chief executive, said that Waterstone’s had already sold nearly as many by preorder as were sold in total of the sixth Harry Potter book.
He said that it was vitally important for Waterstone’s to offer the book at a competitive price but because it was selling it at £8.99 – half price – it would be “hard to make money”.
Mr Fox said that Ottakar’s, the bookstore that Waterstone’s bought last year, was a clear example of how a retailer’s fortunes could be damaged by not engaging in price competition on block-buster books.
Mr Fox’s comments reflect the fears of Kate Swann, the chief executive of WH Smith, and Philip Downer, the retail director of Borders, as the high street prepares for a Harry Potter price war with the supermarkets and online stores such as Amazon, which is already offering the book for £8.99.
On the bright side, high sales numbers, not profits, are still good for The Harry Potter Outreach Program!