If you love to read, or love to write, the end of bookstores as we know it is a sad development that’s been coming for a long time. And apparently without a big blockbuster like a Fifty Shades of Grey supporting it, the book business continues to be in trouble.
As Deadline reports, instead of getting a boost from the holidays, Barnes and Noble’s revenues have been down because many B&N stores have closed. And while many of us are hoping digital book downloads will one day save the day, the public still wants actual paper books, and Nook revenues are reportedly down 60.5%.
As Deadline’s report continues, devices and accessories also fell 66.7%, and digital content is down. The company’s putting a brave face on all this by saying in a press release, “We are pleased with our holiday sales results, especially our core comparable bookstore sales, which were essentially flat and an improvement as compared to the first half of the year.”
So while this development is not a good thing for literature, it shouldn’t come as any surprise. Magazines, books, and publishing have been in a bad way for a long time now, and while a big hit like Fifty Shades or a Hunger Games has helped keep things afloat, they’re not cure alls.