The AAP released their monthly StatShot report for October 2012, showing flat trade sales overall and a continued falloff in the growth of ebooks–which comprised just 17 percent of all trade revenues in the month. Adult trade sales of $504.6 million were up a slim $3.7 million from a year ago. Adult hardcovers declined 6.4 percent, at $224.6 million, while trade paperbacks were virtually flat at $116.8 million. As in September, eBooks comprised the third-largest segment for adult books, at $103.7 million –a 40.7 percent increase over $73.7 million a year ago. With the seasonal decline, adult ebooks are back […]
Archives for February 2013
People, Etc.
At the Random House Publishing Group, Melissa Milsten has been named director, partnerships and business development, reporting to Allison Dobson. In her new role Milsten will focus on developing long-term relationships with consumer brands and products to expand the audience for RHPG authors, increase marketing, publicity, and digital reach, and develop new revenue streams. Diana Coglianese has been promoted to editor for Knopf and Pantheon. Last Friday Hastings “dismissed 14 mid-level to executive employees” in order to cut their administrative costs. CEO and chairman John Marmaduke has relinquished the presidency, promoting Alan Van Ongevalle to president and chief operating officer as […]
Profits Fall at Penguin On Flat Sales, Rising Digital
Pearson reported full-year 2012 results in Monday morning in London, with Penguin’s adjusted operating profit falling by £13 million (12 percent on an actual basis, and 14 percent on a comparative underlying basis) to £98 million for the year. Actual operating profit was £32 million lower, however, due to “costs associated with the formation of Penguin Random House.” The company has included “a provision for the settlement of litigation” over agency ebook pricing within that £32 million charge, without breaking it out further, though Penguin ceo John Makinson told us “a fairly substantial amount” is set aside for settlement costs. […]
Riggio Offers to Buy BN Stores, Subject to Negotiation
Following advance notice Sunday night in the WSJ, early Monday morning Barnes & Noble announced that Len Riggio “notified the board…he plans to propose to purchase all of the assets of the retail business”–comprising the BN superstores, and the BN.com web site. “Riggio plans to make the proposal in order to facilitate the company’s evaluation of its previously announced review of strategic options for the separation of its investment in Nook Media.” The price is subject to negotiation with the board, and “is currently contemplated to be comprised primarily of cash consideration and the assumption of certain liabilities of the […]
Barnes & Noble Stories: Riggio Might Buyback Stores; Nook May Pullback on Devices
With Barnes & Noble reporting earnings on a delayed schedule this Thursday, possible news is leaking ahead of time. As the company has been looking for a way to split the BN superstores–a profitable but declining business that looks like it should be privately-held–from the Nook Media business, the logical potential buyer, Len Riggio, is emerging as a candidate yet again. The WSJ cites a source who says “a public disclosure of his interest” is expected this week, while also noting “his expression of interest so far has been tentative”. The Journal goes rather far in conjecturing that stores “could […]
ABA Supports “The Concerns” Raised In Booksellers’ Suit
In their first response to the lawsuit filed by three booksellers a week ago against Amazon and the six largest trade publishers, the American Booksellers Association acknowledged that the organization “was approached by one of the plaintiffs” in mid-2012. At that time, they say they were asked “to participate in an antitrust action solely against Amazon.com.” (Refer yourself back to the letter to the DOJ we cited in Friday’s Lunch.) The ABA writes that it “shares the concerns of the plaintiff booksellers regarding Amazon.com’s business practices, as raised in the recently filed lawsuit,” but the statement does not mention the […]