IDW, the #4 publisher in the industry, is in trouble:
IDW Media Holdings has reported its second-quarter financials for 2019, and it doesn’t look like good news. Overall, the company had a net loss of $3.7 million, with $1.6 million of those losses coming from IDW Publishing, the branch of the company that publishes comic books.
A loss of $1.6 million on publishing revenues of 3.7 million (not a mistake, IDW’s publishing revenues were $3.74 million, nearly identical to the amount of its total net loss) is pretty impressive. Even worse, that’s a decline of nearly 30 percent of sales from Q1.
But this is an industry-wide issue. Total unit sales were down another 6 percent year-on-year in May, while dollar sales were down 11 percent.
Snicker-snack….