Amazon reported first quarter sales of $9.86 billion, up 38 percent from a year ago, but for the fourth straight quarter–and as guided three months ago–net income fell to $201 million, down by a third, and operating income declined to $322 million, a $72 million drop as compared to last year. Earnings per share of 44 cents were well below analysts’ estimates of 61 cents a share, but sales were higher than predicted. While an earnings shortfall usually leads to a big drop in the stock, Amazon’s shares are rising in this morning’s trading. The company’s margins continue to fall […]
People, Etc.
Dallas-based literary agent David Hale Smith has joined Inkwell Management as an agent, bringing along his list featuring crime, suspense and thriller writers as well as literary fiction and nonfiction that ranges from narrative history and business to health & wellness and cookbooks. InkWell partner Michael Carlisle says in the announcement, “Inkwell’s success has come from the collegial atmosphere among our colleagues and the quality of our clients. It is with special pleasure that we invited David Hale Smith to join our ranks. He represents some of the best young writers of our time with whom we will be working […]
eNews: e-Royalty Escalators; Sony Tablets On the Way; Product Placement; and More
Some UK agents claim to the Bookseller that they have negotiated e-royalty escalators and expect this move “will be the norm, not the exception” in the future, but it sounds more like an aspiration than a well-documented accomplishment. Blake Friedmann agent Oliver Munson is the only one saying on the record they’ve already done this: “We’ve certainly had e-book escalators in a number of contracts….. I can’t realistically envisage the much-trumpeted 25% net receipts remaining the benchmark for much longer either.” Piers Blofeld at Sheil Land also says “I have negotiated an escalator, but not with one of the big four. That would be […]
Penguin Introduces Book Country, A Community for Genre Fiction Writers
Today Penguin launched the public beta of Book Country, a new subsidiary company and website whose aim is to build a writing community and social network centered around genre fiction, especially romance, science fiction & fantasy, and mysteries & thrillers. Membership is free and allows writers to post unpublished manuscripts and receive detailed feedback–ranging from genre categorization to more focused comments on specific craft aspects–from community members, essentially acting as an ongoing online workshop. Starting this summer Book Country intends to generate revenue by having members to self-publish print and e-book editions of their work for a fee, and in […]
People: Wasserman Joins Yale UP
Steve Wasserman has joined Yale University Press as executive editor-at-large, General Interest books. “Steve’s fascinating and varied career has put him at the center of public intellectual life in America,” said Yale UP director John Donatich. “He will bring great things to Yale Press’s unique program in publishing serious and scholarly works to the trade.” The former LA Times books editor will remain with Kneerim & Williams as a literary agent, and will not represent any of the firm’s clients in any negotiations with Yale. Rhea Lyons has joined Franklin & Siegal Associates as literary scout. She was previously subrights […]
Comprehensive Nook Color Update Includes Email, Apps, and Social Networking, Plus New Ad Campaign
This morning Barnes & Noble confirmed what had been rumored over the weekend a major firmware update to Nook Color (now on Android’s 2.2/Froyo OS) that makes the device a lot more like a proper tablet, with new apps, additional illustrated and enhanced ebooks, the ability to check email, more magazines for sale, and social networking. Nook Email allows users to check a variety of accounts, while social networking service Nook Friends allows for book-swapping and targeted library lending, “liking” titles and viewing other customer recommendations. “Frankly most of the things they have asked us about are very popular tablet […]