Internet Retailer reports that Barnes & Noble may have found its financial salvation, and it isn’t in between the two covers of a physical book.
The story says that Barnes & Noble is saying that “sales for its Nook electronic book reader and Nook-related digital content increased 300% to about $250 million in fiscal 2011 from about $62.5 million in fiscal 2010. ‘We are now selling three times as many digital books as compared to all forms of physical books on BN.com,’ CEO William Lynch told Wall Street analysts on the company’s recent year-end earnings call, adding that ‘BN.com recorded its largest annual growth rate in a decade because of Nook’s growing digital content business’.”
The story says that Barnes & Noble is saying that “sales for its Nook electronic book reader and Nook-related digital content increased 300% to about $250 million in fiscal 2011 from about $62.5 million in fiscal 2010. ‘We are now selling three times as many digital books as compared to all forms of physical books on BN.com,’ CEO William Lynch told Wall Street analysts on the company’s recent year-end earnings call, adding that ‘BN.com recorded its largest annual growth rate in a decade because of Nook’s growing digital content business’.”
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The Barnes & Noble experience is proving to be the same as the Amazon experience, when it comes to the emergence of digital content. And it shows not just how the world is changing, but how embracing these changes can affect a business model.
