In an attempt to resuscitate its failing e-reader division, Barnes & Noble has decided to split into two companies.
According to Mashable, the company will separate the division for its Nook e-readers into a separate company by the end of the first quarter of 2015. Barnes & Noble CEO Michael Huseby released this statement:
“We believe we are now in a better position to begin in earnest those steps necessary to accomplish a separation of NOOK Media and Barnes & Noble Retail. We have determined that these businesses will have the best chance of optimizing shareholder value if they are capitalized and operated separately.”
Basically, this means he hopes the separate Nook company will be more flexible on its own and therefore acquire more partnerships or even new owners. Microsoft, for example, could theoretically purchase the company. But branching off may have little to no impact on the Nook company. It’s been struggling for years, and has continued to decline in sales revenue, as other e-readers and phone apps compete in the digital market.
Guess we’ll have to wait at least another six months to see what happens.
Just because more and more people are reading e-books doesn’t mean they’ve stopped reading physical books. That’s according to the latest post-holiday study done by the Pew Research Center.
According to Publishers Weekly, most people who read e-books read print books as well. Only 4% of readers consider themselves to be “e-book only.” The study also found that people are reading more in general. American adults are averaging about 5 books per year, a slight increase from the study done at the end of 2012.
The study found that about half of Americans now own either a tablet or e-reader. This is a likely explanation for why there are also more people reading across multiple formats — like print, digital and audio, as Andrew Albanese explains.
87% of e-book readers also read a print book in the past 12 months, and 29% listened to an audiobook.
84% of audiobook listeners also read a print book in the past year, and 56% also read an e-book.
A majority of print readers read only in that format, although 35% of print book readers also read an e-book and 17% listened to an audiobook.
Overall, about half (52%) of readers only read a print book, while just 4% said they only read an e-book, and just 2% only listened to an audiobook. Some 9% of readers said they read books in all three formats.
As an avid reader, I certainly read across all platforms. I read physical books, Nook books, and listen to audiobooks. I have some friends who prefer reading through the Kindle app on their phone, others who use their tablets. Reading books takes all different forms these days. But hey — at least we’re reading.