In 1935, the publisher Allen Lane set about democratising books. He saw that there were new readers for very cheap editions of popular works, priced at 2d, migrating from magazines and newspapers, and figured out that he could sell better versions of the books for 6d, taking advantage of the “distinct improvement in the taste of the public” with the result that these newbie readers would become lifelong lovers of the book. Without doubt, Lane changed publishing, built an enduring business and expanded the habit of reading nationwide.

It is no wonder that Penguin Random House (PRH) UK is doing so much to celebrate this anniversary – including an 11 Downing Street exhibition, a festival at the Truman Brewery, curated lists, parties and other events internationally around the brand, and a Social Impact Nibbie – this is a brand to be proud of, but also one that brings with it a continuing challenge. The popularising of books remains a key objective, and its opposite – the sidelining of reading – an ever-present threat. As I noted last week, there is a coming generation that appears to enjoy books less than any of its recent predecessors; while the decline in non-fiction, particularly at the serious end of the market – perhaps a result of the rise of podcasts – is a coming concern.

The release this week of the Publishers Association’s annual stats report is a timely rejoinder. Its analysis shows overall publisher sales rising to £7.2bn, driven – somewhat unusually of late – by consumer sales, across digital and audio, and exports. Lane would no doubt have been cheered by how, despite the growth in cheaper e-book formats, print – much of it sold through bookshops – is still the preferred medium in the consumer market, accounting for 78% of revenue. The release also shows something wider: there are actually greater challenges in the academic and education sectors, whose markets are buffeted by changes outside of most publishers’ hands, from how users want to access content to how governments fund it.

The popularising of books remains a key objective, and its opposite – the sidelining of reading – an ever-present threat.

It was perhaps for some of these reasons that PRH UK chief executive officer Tom Weldon, the heir to Lane’s vision, was in a confident mood when I met him last week ahead of the publisher’s big 90th birthday party this week. Leaning into the Penguin brand will have been a galvanising activity as it is – still – the only big publisher brand with actual consumer cut-through. As Weldon noted in his interview, the Penguin name opens doors and brings with it a level of responsibility: Lit in Colour and Libraries for Primaries show that it is up to the job, even if more needs to be done, particularly around this well-worn notion of publishing “genuinely” for everyone.

A decade ago, Penguin’s past owner Pearson sold its consumer business to focus on education, in what was widely regarded as a smart move but was also a slap in the face of the more mercurial trade business. But with Penguin now a healthy contributor to the €19bn Bertelsmann Group, and bigger now than its former parent, one wonders if our view of this history needs a rewrite.

That the modern Penguin remains standing is as much about its founder as its current stewards. Should the initiative work, Lane wrote in The Bookseller back in 1935, “I shall feel that I have perhaps added some small quota to the sum of those who during the last few years have worked for the popularisation of the book shop and increased the sale of books.”

Ninety years on, I think we can say, “level unlocked”. But it is not game-over.