Indigo Books and Music does not sell digital audiobooks, but they have been selling tapes and CD's for the past 15 years. They currently has an assortment of 387 unique physical audiobooks across its retail chain, with about average of 100 unique physical audiobooks in each large format store. The Canadian bookseller cannot ignore the rise of digital audiobooks and they have … [Read more...] about Indigo and Kobo sign a new agreement for audiobooks
Business News
Barnes and Noble might be sold to a New York Hedge Fund
There are many reports from the Wall Street Journal and Forbes that Barnes and Noble is going to be sold to Elliott Management Corp, a New York Hedge Fund. The Financial Times said that Elliott would offer $6.50 a share in a deal that values the chain at $476 million.Elliott is run by the billionaire Paul Singer, who has experience in the book business. It acquired … [Read more...] about Barnes and Noble might be sold to a New York Hedge Fund
FictFact has closed down
FictFact is a website that allowed you to track authors or series. The service would automatically notify users when a new ebook was available and give you a link to purchase the title on Amazon. FictFact had be operating for a number of years, but had violated Amazon's affiliate agreement and their account was terminated. With no other revenue streams, but the occasional … [Read more...] about FictFact has closed down
Penguin Random House and Hachette will distribute to Indie Bookstores
Baker and Taylor is closing their wholesaling business this summer and this has put thousands of independent bookstores without a book distributor. In order to pick up the slack Penguin Random House, Hachette and the Independent Publishers Group have announced new programs to get their titles into bookstores in the United States.Penguin Random House has an Indie Express … [Read more...] about Penguin Random House and Hachette will distribute to Indie Bookstores
Simon and Schuster experiences ebook declines
Publishing revenues of $164 million for the first quarter of 2019 increased 3% from $160 million for the same prior-year period, driven by higher print book sales. Bestselling titles for the first quarter of 2019 included Five Feet Apart by Rachael Lippincott and Supermarket by Bobby Hall.Publishing operating income of $17 million for the first quarter of 2019 increased 6% … [Read more...] about Simon and Schuster experiences ebook declines
There will be no more Yotaphone, the company is bankrupt
Yota devices was a Russian company and they produced the YotaPhone. This device had two different generations that were available. The original YotaPhone debuted in 2013 and had widespread availability. a few years later the YotaPhone 2 was announced, but it never arrived in the United States. A Chinese company bought a 65% stake in Yota Devices and released the YotaPhone 3 … [Read more...] about There will be no more Yotaphone, the company is bankrupt
Hachette states that ebooks account for 7.9% of global revenue
Hachette has reported that in 2018 global revenue was €2.52 billion. Canada and the US accounted for 29% of their revenue, which was around $736 million dollars. This was an overall increase of 27% from 2017.In a prepared statement, HBG CEO Michael Piestsch said: “HBG’s increased profits in 2018 were the result of superb publishing across our divisions, solid revenue … [Read more...] about Hachette states that ebooks account for 7.9% of global revenue
Barnes and Noble had a profitable holiday quarter
Barnes and Noble has announced that in the last three months of 2018 they generated $1.2 billion and net income was $66.9 million. Comparable store sales increased 1.1%, which was their best performance in several years. Book sales decreased 1.2% for the quarter. Trade paper, kids and young adult book sales fell short.Allen Lindstrom the CFO of B&N said that "Online sales … [Read more...] about Barnes and Noble had a profitable holiday quarter
Amazon is going to focus on opening up more bookstores
Amazon is in the process of shuttering 87 pop-up stores and they instead will focus on opening up more bookstores. This will provide a better avenue to sell Kindle e-readers, books and Alexa enabled products.“Across our Amazon network, we regularly evaluate our businesses to ensure we’re making thoughtful decisions around how we can best serve our customers,” an Amazon … [Read more...] about Amazon is going to focus on opening up more bookstores
Simon and Schuster experiences strong gains with audiobooks
Simon and Schuster generated $825 million last year and CEO Carolyn Reidy stated that digital was on the rise, thanks to audiobooks. Looking back on 2018, Reidy said sales of downloadable audio once again had gains well into the double digits that countered declines in e-book sales. Overall, total digital sales rose by half a percentage point over 2017.The best books that … [Read more...] about Simon and Schuster experiences strong gains with audiobooks
Playster fires all of their employees and is on life support
Playster has fired their entire staff two weeks ago and only a few executives remain with the company. Management has asked everyone to keep it a secret and not to post about it on social media. Playster will not be investing anymore money into new digital content, which means they will no longer be adding new audiobooks or ebooks to the platform.Playster was initially … [Read more...] about Playster fires all of their employees and is on life support
