Let’s start with the good news. AAP (Association of American Publishers) has announced the January sales figures. Once again, e-books sales rose, although the rate wasn’t as fast as in previous months. Also posting increases were downloaded audio books, religious and professional books. The other segments of the industry posted losses. Here is the breakdown as reported by Shelf Awareness:
|Downloaded audiobooks||$6.5 million||8.8%|
|Religious books||$45.4 million||6.8%|
|Higher ed||$382 million||-1.4%|
|Children’s/YA hardcover||$31.2 million||-1.9%|
|Univ. press paperback||$6.2 million||-7.8%|
|Adult hardcover||$49.1 million||-11.3%|
|Univ. press hardcover||$3.9 million||– 14%|
|Children’s/YA paperback||$25.4 million||-17.7%|
|Adult paperback||$83.6 million||-19.7%|
|Adult mass market||$39 million||-30.9%|
You can see more on this from Publishers Weekly here.
On the not so positive front is the latest from Borders. On Wednesday, Borders’ DIP filing was approved by the bankruptcy court. PW has a breakdown of the hearing here. But what is really interesting, imo, is the separate filing by Borders on Wednesday. Quoting from the same PW article: Borders contributed to speculation that it may look to a sale to emerge from bankruptcy. The court approved a motion appointing Jeffries and Company as its investment banker, but note that the company will only be paid under certain circumstances. “Jefferies shall be entitled to a Liquidation Fee with respect to any sale or liquidation of assets (whether pursuant to a Chapter 11 plan, Section 363 of the Bankruptcy Code or otherwise) if, and only if, Jefferies ran a sale process with respect to such assets and/or marketed such assets or investment concerning such assets and/or otherwise provided material services in connection with the sale or liquidation of such assets,” the order stated.
Borders has also listed 28 more stores for closure. These stores will close by the end of May. Here is a link for the stores closing — I couldn’t get it to work this morning. Hopefully, it will later today. If not, here is a link to the PW notice about the closures.