I will never understand why B&N has not aggressively grown PubIt beyond the US and even there seems to be content to glide rather than soar. Mike Cane get’s it:
Use those storefronts to pimp PubIT! Get the writers in your inventory, as Amazon has done with KDP.
Hold sessions that teach writers how they can create for and publish their books on PubIT. That’s a strategic advantage that Amazon, Apple, Kobo, Sony, and Google cannot match. No print publisher can match it, either. Why hasn’t this been done from the start? I don’t know. But it needs to be done now. Nook Media can have books that Barnes & Noble will never have — because they are e-only.
via The Changes Nook Media Must Make | Mike Cane’s xBlog.
Interesting to see the long term trend impact of online sales on bookstores:
According to a study by Experian for The Telegraph newspaper, there are 1,878 bookshops left on the high street today, including independents and Waterstones stores, whereas in 2005 there were 4,000. Separate research by analysts at Mintel suggests UK consumers spent £261 million on e-books in 2012, nearly twice the £138 million spent in 2011, while physical book sales fell from £3.3 billion last year to £3.1 billion this year.
via Bookshop numbers halved in seven years, says research | The Bookseller.
Wowzers! How crazy is this?This makes publishing Hebrew Books pretty uncompetitive. How does all this work with ebooks?
The bill also states that for the first 18 months authors will receive a minimum 8% royalty for the first 6,000 books sold, and royalties of at least 10% for all books sold after that number.
For the next seven years, publishers will be obligated to pay authors at least 16% royalties on profits from their books.
via Bill will end low prices for new Hebrew … JPost – National News.
B&N has, it seems to me, a pretty good sense of what it is doing in the digital space. What’s more, because it is converting heavy readers to digital reading it is gaining pretty credible market share. That is leading to some significant changes in the company. I was struck by the paragraph below while I read this rather good piece on the shift in The New York Times:
In one room, a virtual wallpaper of Nook color devices hangs in rows neat as a checkerboard. A common area holds a foosball table and a cooler of VitaminWater. Some of the walls are made of silver-colored mesh. Some of the cubicles are lime green.
via Barnes & Noble, Taking On Amazon in the Fight of Its Life – NYTimes.com.
Sounds like Google or Facebook or a dozen other tech start ups no?
Easily the smartest piece I’ve read so far this year. What’s more I think it’s so good it’ll hold that title until the end of the year too. This just a flavour:
I don’t believe that B&N has fully tuned into the economics of working in a network environment. For all the talk of the democratization of the Internet and the Long Tail, network economies tend to be winner-takes-all. Amazon is fast approaching a position where it becomes a virtual monopoly like other tech giants before it — Microsoft with Windows and Office, Facebook with social networking, Google for Web search, and Apple (through iTunes) for music consumption. All of these monopolies reach a plateau at some point, where other products and services begin to restructure the paradigm (e.g., the role of Cloud computing and mobile telephony in eroding Windows’ base), but while the party lasts, it is one heck of a profitable ride. It is far more urgent for B&N to prevent Amazon from reaching that point than it is for B&N to strive to achieve that point itself. B&N should be hell-bent on destroying the e-book paradigm, not on trying to control it.
via How Barnes & Noble Can Take a Bite Out of Amazon « The Scholarly Kitchen.