The Plan to Make Nook Profitable
This past quarter, which ended for Barnes & Noble at the end of Oct., the Nook media business lost about $51 million on revenues of about $160 million. Revenues were up slightly, but so were losses.
So, how does the company plan to turn it around? An analyst on a conference call discussing the company’s earnings asked just that and got a straight answer from the CEO William Lynch: “The key to the Nook business is to continue to grow digital content sales.”
While ebook sales growth slowed in the quarter, Lynch said, it’s almost certain to pick up after the holiday season. Both Amazon and Barnes & Noble claim they sold twice as many Kindles and Nooks this black Friday versus last.
A bright spot for now might be growth in self-published content sales, Lynch said on the call.
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The rest of the day’s top news:
Random House Launches Three Digital-Only Imprints (DBW)
The imprints will be genre fiction: Alibi (mystery/thriller); Hydra (science fiction); Flirt (YA/new adult), which will also publish romance under the re-launched Loveswept unit, which publishes new digital-only and classic romance titles. Our theory? Ebooks are the new paperbacks.
Atavist Launches Subscription (Niemen Journalism Lab)
Readers can buy a three-month subscription to all Atavist content through its app for $6.99.
Who Is Reading Fifty Shades? (DBW)
It’s not who you think. Many men and the elderly are Fifty Shades of Grey readers. Some people even buy it for their parents. See just who is reading the year’s biggest selling series.
Amazon Sweetens Deal (DBW)
If you’re a self-published author and are considering making your content exclusive to Amazon to take advantage of its KDP Select program, the Seattle-based e-tailer just gave you 1.5 million more reasons to do so.
Major Indian E-Tailer Launches Ebook Business (New Delhi TV)
Flipkart.com, a major Indian e-tailer, has launched an ebooks store on the Android platform. Flyte, as it’s called, currently has 100,000 titles available, 4,000 of them free. Prices start at about $0.50 a book.
Pinterest for Books? (HuffPo)
Small Demons CEO Valla Vakili introduces his start-up’s newest feature: collections. It’s a place on the site for you to collect all the things in books you think are in common. Sounds a lot like Pinterest.
Social Reading Comes to Vook (DBW)
Vook has taken an August experiment and made it a part of its offerings. Through a partnership with Democrasoft, those who make their ebooks using Vook will now be able to add “WeJITs” to their titles. What are they? Basically places where conversations can take place between the author and the community of readers.
Department of Duh: Self-Publishing Is Hot (TIME)
Some self-published authors are making millions. Some are making less. And most make very little. Either way, it’s hot. (For TIME subscribers.)
Everything You Wanted to Know…Part II (Mac Observer)
Part II of the basics of ebooks article we brought you yesterday. If you need it, don’t be shy. Click!
Not Book-Related, But Important (New York Times)
The economy is picking up and has been since July. The time to make cheap investments could be coming to a close if this New York Times report proves true.
New York’s 100 Most Important Living Writers (Flavorwire)
Feel like wasting a few hours ogling the literati? We do, too.
Which Tablet Should You Buy? (New York Times)
The iPad Mini.
Broken iPad (McSweeneys)
A lovely little piece centered around one joke: “Hey Apple, my iPad seems to be broken. No matter how much I use it, I still am unhappy in life.”