With full-year NPD Bookscan stats for 2019 now available, the AAP turns back the clock a little with the release of its October StatShot. Overall adult sales in October were $561 million, down from $583 million in 2018 (or $600 million in the original 2018 reporting, continuing the correction trend we have noted throughout 2019). Sales of adult print books were $420 million, down from $442 million in October 2019, with mass market showing the largest decline, also in line with the year’s trends. (The originally reported October adult print numbers were significantly higher, at $458 million.) Children’s saw continued […]
Barnes & Noble Denies Age Discrimination Claims and Requests Jury Trial
Barnes & Noble has demanded a jury trial to fight former employee Barbara Tavres’ claim that the company violated state and federal labor law by discriminating against her and other employees on the basis of age. In a response filed January 13 in the Northern District of California, BN denied all Tavres’ claims, writing repeatedly that “Plaintiff’s performance reviews speak for themselves.” They insist that no basis for a class action exists, writing that, “Any and all employment actions taken with respect to plaintiff and the putative class were not based on any discriminatory motive or in retaliation for any […]
Audible and Publishers Settle Captions Dispute
After an encouraging update in late December, Audible reports to federal judge Valerie Caproni that the company has finalized a settlement with the seven AAP publishers that sued to block the digital audio company’s planned Captions features. Audible attorney Emily Reisbaum wrote on behalf of all parties on January 13, the date an update had been promised: “We are pleased to inform the Court that the parties have resolved their disputes. The parties respectfully request until January 21 to allow the parties to obtain signatures on the settlement documents and submit them to the Court for its consideration and approval.” […]
Audible Attorney Says “Only a Few Outstanding Issues Remain” on Captions Settlement
Audible and the publishers who sued the company over the planned Captions feature adding scrolling text to audiobooks may be close to a resolution. According to Audible attorney Emily Reisbaum, in a letter to Judge Valerie Caproni on December 27, “there are only a few outstanding issues requiring further negotiation.” In that update, Reisbaum, saying “we write on behalf of all parties,” asked the court for still more time to continue negotiations. Given that they have been asking for extensions since the beginning of October, Judge Caproni had ordered on December 18 that “any further request for suspension of consideration […]
2019: The Year in Mergers and Finance
The year’s mergers and acquisitions ended with a big deal that really wasn’t a big deal: The announcement of Bertelsmann‘s agreement to acquire the remaining 25 percent of Penguin, for $665 million, pending regulatory approvals. When Penguin and Random House first came together in 2013 — with no money changing hands — it was a merger, of near equals, but over time and now definitively, it became a full acquisition. Penguin Random House itself was an active buyer all year, with a particular emphasis on children’s publishing, and the company has pledged to continuing growing through further acquisitions. One of […]
Scholastic Reports Strong Q2 for Trade Books
Scholastic reported second quarter earnings, with sales of $597.2 million, down from $604.7 million in last year’s Q2 (or 1 percent). Trade sales remained strong, though, at $103.6 million, up from $96 million (or 8 percent). Operating income was up, to $105 million, from $98 million one year ago (or 7 percent). Trade saw strong frontlist sales, from books including Raina Telgemeier’s Guts, Alan Gratz’s Allies, Maggie Stiefvater’s Call Down the Hawk, The Dinky Donkey, and Harry Potter and the Goblet of Fire: The Illustrated Edition, but also included the licensing revenue from Clifford, the animated programming now on Amazon […]