The publisher Bloomsbury has lifted its annual profit forecasts after the latest novel from the fantasy author Sarah J Maas topped bestseller lists across the world, aided by fans recommending her books on TikTok.
The British publishing company told investors that its profits for the year would be ahead of December expectations, attributing much of this to the release of Maas’s latest book, House of Flame and Shadow.
The novel, which was released on 30 January, is the third book in Maas’s series that follows Bryce Quinlan, a half human, half fairy-like creature, in the fantasy Crescent City.
Maas’s “romantasy” books have gained huge popularity and House of Flame and Shadow became the number one bestseller in the US, UK, Australia and a number of other countries.
In the UK, it became the third-fastest-selling fantasy novel since records began, with 44,761 copies sold in its first week. The company said the new release had also driven demand for the previous 15 books written by Maas for Bloomsbury.
The publisher, which is best known for publishing the Harry Potter series, said it expected to post pre-tax profits well ahead of the consensus market expectations, which put profits at £37.2m for the year up to 29 February, on a turnover of £291.4m.
The analyst Investec updated its forecasts for the company on Wednesday, predicting annual profits of £48.1m and a turnover of £329.3m. The shares rose nearly 10% to 539p, the highest point since the company listed in 1994.
The publisher currently has a deal for six more titles from Maas. Her popularity has been driven by an increased presence on social media platforms such as Instagram and TikTok, with fans sharing their love for the books with followers.
Other authors in the “romantasy” genre, which mixes fantasy and romance, continue to experience high level of sales.
The Fourth Wing series by Rebecca Yarros is popular. Her book Iron Flame recently became the bestselling fantasy book since records began, selling 57,055 in its first week last November.
Nigel Newton, the chief executive of Bloomsbury, said the “exceptionally strong trading period” was driven by increasing demand for fantasy fiction. “Sarah J Maas is a publishing phenomenon and we are very fortunate to have signed her up with her first book 13 years ago.
“Her books have a huge audience which continues to grow, backed by major Bloomsbury promotional campaigns, driving strong word-of-mouth recommendation, particularly through TikTok and Instagram channels,” said Newton.
Bloomsbury also pointed to other recent publications that had helped drive sales, which included the Harry Potter Wizarding Almanac, Tom Kerridge’s cookery book Pub Kitchen, and Ghosts, the book to accompany the popular BBC comedy series.
