Fifty shades of cash profit

SALES of the steamy Fifty Shades trilogy have helped publisher Random House to a 75% rise in annual profits.

The publishing group ’ s profit rose from à185- million to à325- million, according to Bertelsmann, its German parent company — and the erotic EL James novels were the dominant force behind the increase.

“Fifty Shades was a phenomenal success,” Judith Hartmann, Bertelsmann ’ s chief financial officer, told The Times newspaper last week. “We sold 70 million copies in e-book, paperback and hardback.”

About 50% of revenues from the trilogy were from e-books, compared with Random House ’ s average of about 20% from digital sales. The novels, about a sadomasochistic romance between Christian Grey and Anastasia Steele, are set to be made into a Hollywood film.

Random House ’ s revenues were up by almost a quarter to à2.1- billion, although Bertelsmann pointed out the company had bestsellers other than Fifty Shades of Grey and sequels Fifty Shades Darker and Fifty Shades Freed, such as Rod Stewart ’ s autobiography. It is to publish Dan Brown ’ s new novel, Inferno, in May, added CEO Thomas Rabe.

The erotic publishing phenomenon has helped Bertelsmann retain profit levels, The Guardian newspaper noted, despite a decline in other arms of its business.

The media conglomerate also owns music publishing company BMG and magazine group Gruner+Jahr, and is the majority shareholder in European broadcaster RTL. “Bertelsmann is back on a growth trajectory after years of declines and portfolio adjustments, ” Rabe said. — theweek.co.uk