Rowling's magic to net profit for Pottermore

Pottermore, JK Rowling's digital publishing company, expects to turn a profit in its current fiscal year, buoyed by rising sales of audio books and new e-books that build on the nearly 20-year-old Harry Potter franchise.

FRANKFURT (REUTERS) - Pottermore, J.K. Rowling's digital publishing company, expects to turn a profit in its current fiscal year, buoyed by rising sales of audio books and new e-books that build on the nearly 20-year-old Harry Potter franchise.

The magic touch of one of the world's most popular authors turning a fan community site, where she also self-publishes, into a growing e-commerce enterprise selling e-books and audio books.

Last fiscal year, Pottermore narrowed its pretax losses. This year, it should inch into the black.

Mr Eric Auchard, Reuters European technology correspondent, said, "In 2015 it started working with the Amazons, the Apples, the Googles and it's that change in strategy that's moving the company into profitability. It's still only generating about - well in the last year it generated about 15 million pounds (S$26.5 million)  in revenue, so it's still a small, small piece of the overall Harry Potter franchise."

Pottermore has published new e-book versions of the original Harry Potter books.

As well as short writings by Rowling that delve behind the characters, stories and settings imagined in the wizarding realm.

Last week, it published her screenplay for the Potter spinoff Fantastic Beasts And Where To Find Them.

Publishing wizardry it may be, but Pottermore is still dwarfed by the main Potter franchise.

The seven original books have sold more than 450 million copies worldwide.