It’s not just for books. TikTok readers have discovered ereaders and self-proclaimed “Kindle girlies” are fueling device sales, particularly for Amazon. The WSJ speaks to vice president of Amazon Devices and Services Kevin Keith, who says in that vague happy Amazon way that “Kindle sales have grown in double-digit percentages for each of the past two years and are on track for similar gains this year.” Keith reports that a good portion of that growth — approximately 60 percent — comes from people who have never owned a Kindle ereader previously. (On the other hand, that also means that about […]
eNews
Tik Tok Shop Makes Its Own Bestsellers
The NYT finds Keila Shaheen’s The Shadow Work Journal — republished last month by Simon & Schuster’s Primero Sueño — one of at least a handful of homegrown TikTok Shop bestsellers. The Atlantic wrote about the book last September, when it was said to have sold 290,000 units through TikTokShop since April, “even as experts question its approach—and the author’s credentials.” Earlier this year, Shaheen reached a five-book, 50/50 profit-share deal with S&S, accompanied by a seven-figure advance, represented by Rebecca Gradinger and Albert Lee at UTA. The expanded S&S trade paperback has sold a little under 22,000 copies since […]
Inkitt Raises $37 Million In Series C
Self-publishing website Inkitt raised another $37 million in Series C financing, led by Khosla Ventures, valuing the company at about $400 million post-money. (That’s only slightly above where they stood after raising $57 million in 2021.) Unfortunately, the capital will help fund “AI to write stories based on your original ideas, and to produce versions of its fiction personalized for specific readers” among other purposes. The facile tech media repeats CEO and founder Ali Albazaz’s claim that “Inkitt, in aggregate, ranks as the number 11 best-selling publisher globally” — to which TechCrunch amusingly adds “above household names like Penguin Random […]
NYPL Tries New “Orphan” Works Workaround
The New York Public Library has developed a novel, permission-based approach to try to bring potentially in-copyright “orphan works” of scholarship back into general availability. The problem, as they have identified through a variety of efforts, is that often neither the author not the publisher is certain whose permission is needed to digitize and make available out-of-print or otherwise commercially dormant books that may still be covered by copyright. And the expense — and potential liability — of doing the research or granting permission without certainty about the rights makes the risks outweigh the potential benefits of agreeing to republication. […]
Book Stats: Almost Half of Americans Haven’t Tried eBooks
You.gov recently published the results of an online poll of 29,000 Americans about their book ownership. Over 90 percent of respondents own at least some printed books. Yet 45 percent of survey participants do not own any ebooks, suggesting they have never even tried the format. But the results suggest that will continue to change over time as well. Among people 18 to 44, the portion of people who don’t own ebooks drops to 33 percent. The share is highest among those 65 and over, at 60 percent.
Firebrand Launches Two New Products
Firebrand Technologies announced the coming launch of two new products for publishers. Firebrand Flywheel uses a recommendation engine to “strategically select” and then execute titles for timely metadata enhancement. They will start onboarding clients in January. Title Management Lite, also available in January, is a simplified version of their core enterprise service, focused on smaller publishers “with fewer needs.” It still “includes the most important features your team needs to track workflows, manage schedules, and collect and distribute your data,” and is upgradeable to their Enterprise version.