It’s in trouble. And Washington’s flawed antitrust policy is a big reason.
If Leonard Riggio, Barnes & Noble's chairman, joins Liberty Media's proposed buyout of his company, the board needs to decide how to handle his 30 percent stake before shareholders vote on the deal.
The Los Angeles Times published an online article entitled “Barnes & Noble says e-books outsell physical books online.” While I understand that this is a quiet holiday week, the Times should be doing better work than simply republishing press releases from corporations trying to garner post-holiday sales. Some of the thoughts they might have included:
“Customers bought or downloaded 1 million e-books on Christmas day alone”?
There is certainly no debating the continuous growth of the electronic book industry; even Amazon.com has said they’re selling more electronic books than physical books. The key word in the quoted sentence above is “or”. I seriously doubt a significant portion of the 1 million e-books were actually purchased on Christmas day. The real investigative journalism here would have discovered the percentage of free (primarily public domain) e-books that were downloaded versus those that were purchased.
Given that analysts estimate 2 million Nooks have sold (the majority within the last six months and likely the preponderance of them since Thanksgiving) this means that half of all Nook users downloaded at least one book on Christmas day. Perhaps this isn’t surprising for those who would have received a Nook as a holiday present and may have downloaded one or more e-books to test out its functionality. The real question will remain, how many of these 2 million users will actually be purchasing books in e-book format 6 months from now?
I’d also be curious to know if the analyst estimate is 2 million units sold to consumers or 2 million shipped to retail? I would bet that it is units shipped and not sold.
I hope the Times will be doing something besides transcription (or worse: cut and paste) after the holidays.