Hachette Book Group (HBG) achieved impressive sales figures in the third quarter, bolstered by the acquisition of Union Square and strong performances from existing imprints. CEO David Shelley announced the results from Louis Hachette Group, the parent company of Lagardère Publishing, of which HBG is a part, and Lagardère Travel. With Union Square's contribution, HBG's sales surged by 12.5% in the third quarter, and this growth was even more remarkable at 6% when excluding the Union Square acquisition. This positive trend follows a six-month period where HBG's sales had already increased by 7%, primarily driven by the Union Square purchase. In the third quarter, HBG's revenue was significantly influenced by a string of bestsellers, including two books co-authored by the renowned James Patterson and Ken Follett's 'Circle of Days', marking his first book since his move to Hachette from Penguin Random House. The release of three special 20th-anniversary editions of Stephenie Meyer's 'Twilight' saga also contributed to the sales boost. The Lagardère Publishing group as a whole experienced a 5.9% revenue increase, reaching €811 million in the third quarter, with all its geographic operating units recording growth. France led the way with a 10% sales increase, followed by a 3% rise in Spain/Latin America and a 2% increase in the U.K. Over the first nine months of 2024, HBG's sales were up by 9.1% compared to 2023, and this growth remained strong at 1.8% when excluding the Union Square results. The Lagardère Publishing group's nine-month sales rose by 4.1%, reaching €2.16 billion. Despite pressure from the Trump administration to cut diversity, equity, and inclusion (DEI) efforts, HBG has continued to prioritize these initiatives. In September, HBG hosted the Changing the Story Festival, an all-staff event celebrating their commitment to DEI. They also sponsored the Latinx Storytellers Conference, partnered with Her Agenda and the Women in Publishing employee resource group for 'Off the Page: The Women Changing Publishing & Media' event, and launched the Blackademics Author Talk Series through their Legacy Lit imprint.
