IPG and Amazon Agree
Three months after Amazon pulled e-book titles off of its site from clients of the distributor IPG over a dispute on terms, the two sides have reached an agreement. Terms of the deal weren’t disclosed.
Indigo Revenue Down
Revenue for the fiscal year ended March 31 was down by 2.3% for Indigo Books & Music, but buoyed by the C$165 million sale of its digital arm, Kobo, Indigo reported net earnings of C$93 million. Excluding the one-time gain, Indigo had a loss of C$27.8 million in the year from continuing operations. Revenue for the fiscal year ending March 31, 2012, was C$934 million compared to $956 million last year. In its year-end report, Indigo attributed the decline to lower physical book sales, partially offset by growth in its digital, gift, lifestyle, and toy businesses.
Medallion Debuts Time-Triggered E-books
Medallion is preparing to launch TREEbook, a new e-book format that features an underlying time-triggered reading experience that allows the book to generate multiple story lines based on individual reading pace and other embedded triggers. The TREEbook-compatible e-reading app will be released in October, followed in 2013 by an original TREEbook novel, The Julian Year by Gregory Lamberson. Medallion will make the platform available to other publishers.
Sugerman Succeeds Hampton at Disney
Disney Consumer Products has promoted Andrew Sugerman to executive v-p, Disney Publishing Worldwide, taking over as head of the division from Russell Hampton, who stepped down in May. Sugerman has been senior v-p, Disney English, based in Shanghai.