Barnes & Noble held an earnings call today and said that while overall revenues from its Nook e-reader are down, e-book sales are keeping its overall revenue streams afloat.
Via the Financial Times:
Barnes & Noble can thank the erotic series Fifty Shades of Grey for helping to boost traffic through its stores, lift sales of ebooks and narrow first quarter losses.
In the three months to July 28, the bookseller reported a net loss of $41m, or 78 cents per share, compared with a loss of $56.6m, or 99 cents per share, a year earlier. Analysts had forecast a loss of 98 cents.
The EL James Fifty Shades series, dubbed “mummy porn”, occupies the three top slots on the New York Times best-seller list for ebook and print sales and had its origins in online publishing before breaking into traditional publishing.
Barnes & Noble’s introduction of Nook ebook readers has helped the company offset the slump in demand for printed books in the US while establishing a sizeable presence in the US ebook market.
And via The New York Times:
Nook sales, at $192 million, remained flat from the year before. Sales of digital content, which include books, newspapers, magazines and apps, increased 46 percent. Total college bookstore sales increased slightly to $221 million.
The company has poured money into its Nook business in order to compete with Amazon, Apple and other rivals in the crowded e-book market. Last week, it dropped the prices for its color tablets.
Takeaway: Hope there’s more breakout erotica in the upcoming months?