HarperCollins profits skyrocket after deal with Amazon

In a recent development, the Publisher HarperCollins UK has struck gold by selling JRR Tolkien’s TV show rights to Amazon. The publishing house owned the rights to Tolkien’s popular fictional series, Lord of the Rings in 1990 from Allen & Unwin. The Australian publishing company, Allen & Unwin first published The Hobbit and The Lord of The Rings.

HarperCollins’ latest deal allows Amazon to create multiple TV series based on the Lord of the Rings. In this turn of events, the publishing company has profited lucratively and made record profits of about £24.9m. The publishers attributed decline in eBook sales as one of the reasons to the sell TV rights.

Amazon’s television adaptation will showcase the fictional world of Middle Earth in connection to the events of The Lord of the Rings. In order to bring the TV series on its global streaming service, Amazon may invest $1bn in total. The cost will include the rights, production and talent costs.