Eksmo acquired 51% of Popcorn Books
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The amount of the transaction is not disclosed. Eksmo noted that the sale took into account a potential drop in Popcorn Books’ revenue in the first half of 2023. As a result, revenue amounted to 1.6 million rubles, the publisher specified. They added that they would determine the volume of investments by the end of the year.
Eksmo explained that the group became a shareholder of Popcorn Books for strategic reasons: the publishing house seeks to expand “the youth readership and their purchasing activity.” Eksmo will be responsible for building the distribution of the range and will become a source of investment “to form a new author’s portfolio that meets public demand and the interests of the target audience,” the company added.
The publisher noted that they had entered into an agreement with Popcorn Books on non-interference in editorial policy. Protopopov said that the holding’s capabilities will allow Popcorn Books to gain access to “new tools for buying rights, distribution and production.” It is planned to add novels by African and South American authors to the publishing house’s portfolio, said Alexandra Shipetina, director of the editorial office of fiction at the Eksmo publishing house.
On plans to sell Popcorn Books Vedomosti wrote in February 2023. Prior to the deal, 100% of the publishing house belonged to the founder of Bukvoed, Denis Kotov.
Popcorn Books was founded in 2018 and specializes in young adult literature. As noted on the publisher’s website, among its main topics are the problems of self-identification, racism and sexism, and attitudes towards one’s own body. One of the most famous novels published by Popcorn Books was Pioneer Tie Summer. After the adoption in November 2022 of a law banning LGBT propaganda, the novel was removed from sale in Russian stores.
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