Printed from http://www.electronista.com

Barnes & Noble buys e-book retailer, to open own

updated 04:55 pm EST, Fri March 6, 2009

B&R to open e-book store

Barnes & Noble has recently purchased Fictionwise for $15.7 million, a retailer of electronic books, says a Friday Wall Street Journal report, and will launch a new e-book store later this year. William Lynch Jr., president and CEO of Barnes & Noble, said the retailer bought Fictionwise because it has "one of the most popular applications on the iPhone, and they really understand merchandising," among other reasons.Fictionwise was the first e-book retailer to offer third-party e-books supported by Amazon's Kindle reader back in 2007.

While e-book sales are a small percentage compared to real book sales, they are increasing. Fictionwise, which launched in June of 2000 and is estimated to have sold 5 million e-books, will operate as an independent subsidiary of Barnes & Noble. Barnes & Noble was one of the first companies to offer e-books, with Dean Koontz's The Book of Counted Sorrows back in 2001, before stopping e-book sales late in 2003 due to a lack of public interest.

Fictionwise co-founder Stephen Pendergrast estimates total e-book sales in the US amounted to $100 million in 2008, adding others believe the market is larger. E-books are offered at a huge discount compared to their physical counterparts, as a best-selling novel is priced at $10 compared to $25 or more.

Amazon recently announced it would make its Kindle e-books also available for iPhones and iPod touch devices and other makers, including Sony and BeBook, are releasing dedicated e-book readers of their own.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News