Trade sales grew 13 percent in June to $703 million, a record high for the month, according to StatShot data from the Association of American Publishers. Adult books sold $518 million, gaining 14 percent versus last year, with $317 million in fiction (up 19 percent) and $201 million in nonfiction (up 7 percent). Hardcovers sold $146 million (up 18 percent), paperbacks sold $194 million (up 20 percent), digital audio sold $87 million (up 8 percent), and ebooks sold $74.7 million (up 1 percent). Children’s and YA books rose to $185 million, up 9 percent over last year, with $139 million […]
BNED Sales Are Just Above Flat, As Loss Decreases
Barnes & Noble Education reported sales for the fiscal first quarter ending August 1 on Tuesday. Sales were just above flat for the traditionally quiet summer quarter, at $290.6 million, up $2.4 million from a year ago. Same-store sales were up 3.7 percent, but they operated fewer stores due to closures, “including exits from certain less profitable locations.” The net loss for the period was $12.9 million, compared to a loss of $18.3 million a year ago. Total debt at the end of the quarter was $123.5 million, down from $170 million a year ago. The company still isn’t willing to […]
People 9/9
Bloomsbury Begins Succession Plan for New CEO
Bloomsbury founder and ceo Nigel Newton takes the additional role of executive chairman of the board, kicking off a five-year succession plan for leadership of the company. Newton, who is 71, will remain ceo for the next two years, at which point a new chief executive will take over. For three more years, Newton will stay on as executive chairman “to provide continuity and to support key strategic relationships to ensure a smooth and successful transition,” according to a release. He will become non-executive chairman in 2031. In addition, board chair John Bason becomes deputy chairman and “will continue to […]
Authors, OpenAI File for Summary Judgement In New York Infringement Case
All of the parties in the consolidated AI copyright infringement cases against OpenAI and Microsoft in New York’s Southern District filed motions for summary judgement. There is one set for the books plaintiffs (covered here) and another set for the news plaintiffs (led by the New York Times, not covered here). The books suit is led by the Authors Guild and named plaintiffs including David Baldacci, John Grisham, Elin Hilderbrand, Christina Baker Kline, George R.R. Martin and Jodi Picoult, first brought in late 2023. The plaintiffs declare that, “OpenAI’s GPT models pose an existential threat to those who write and […]
Publisher Errors, Agent Claims, and More in the Anthropic Settlement
After many authors highlighted incorrect claims filings from publishers in the Anthropic settlement, more issues have come to light, including claims by agents and apparent scammers. In a thorough rundown, Writer Beware lists several publishers that claimed 100 percent on works, rather than the default 50/50 split with the author. The Authors Guild posted guidance about the process, noting that some publishers say they claimed 100 percent in error. “Please note that certain publishers have informed the settlement administrator that they mistakenly selected a 100 percent allocation rather than the default option,” the AG writes. “The administrator is updating those publishers’ […]