Penguin sparked paperback shake-up
The idea came to Lane during a visit to celebrated crime novelist Agatha Christie, when he had become frustrated on a train platform after failing to find a decent read.
In the early 20th century, contemporary fiction was not only hard to find, but often expensive. Lane envisioned a company that could not only bring down book prices, but distribute them more widely.
After his secretary suggested using a penguin as a symbol, an employee was sent to London Zoo to sketch one, creating what would become one of the world’s most widely-recognised logos.
Penguin’s first books included works by Christie, Ernest Hemingway, and André Maurois. In 1940 it launched its Puffin brand as a series of non-fiction picture books for children. In 1941 it began publishing fiction, with books such as Worzel Gummidge.
The company launched its Penguin Classics brand in 1946 and became a public company in 1961.
Lane died nine years later — the same year Penguin was acquired by Pearson.
Today, the group is based in London, and publishes over 5,000 titles at any time.
Penguin also provides audiobooks and claims to have been the first trade publisher to have a website and ebook store.
In its half-year results, Penguin said ebook sales had grown 33% year-on-year. But it noted the industry is characterised by growth in digital retail channels, self-publishing, and pressure on high street sellers. Penguin reported a steep fall in operating profit for the first half of this year to £22m (€27m), compared with £42m for the same period in 2011.
