Indigo reported that net revenue was down 5.5 percent for its fiscal year ending on April 3, 2021. Its online sales more than doubled, while retail sales fell 34 percent. It’s interesting to compare its results to what we know about Barnes & Noble. CEO James Daunt has mentioned a sales decline of around 20 percent overall for the US chain, with sales down by 50 percent in major urban stores. He’s also said that B&N’s online sales growth during the pandemic was “relatively minor.” Meanwhile, Waterstones reports pre-tax profits fell 15 percent for its fiscal year (starting April 25, 2020); sales were down 4.3 percent.
Jane Friedman has spent her entire career working in the publishing industry, with a focus on business reporting and author education. Established in 2015, her newsletter The Bottom Line provides nuanced market intelligence to thousands of authors and industry professionals; in 2023, she was named Publishing Commentator of the Year by Digital Book World.
Jane’s expertise regularly features in major media outlets such as The New York Times, The Atlantic, NPR, The Today Show, Wired, The Guardian, Fox News, and BBC. Her book, The Business of Being a Writer, Second Edition (The University of Chicago Press), is used as a classroom text by many writing and publishing degree programs. She reaches thousands through speaking engagements and workshops at diverse venues worldwide, including NYU’s Advanced Publishing Institute, Frankfurt Book Fair, and numerous MFA programs.
