Posted by Sheila Shayon on September 5, 2012 01:02 PM
Supermarkets have become major players in the retail sale of books, movie and TV DVDs and music and are now buttressing their position in digital consumption through vendor acquisitions.
As Amazon and Barnes & Noble reach across the pond, preparing to launch more services and devices in the UK and Europe, Tesco is stepping up its own territorial imperative with the $7.2 million purchase of white-label digital bookseller Mobcast. "The acquisition further strengthens Tesco’s digital entertainment offer, following the purchase of movie and TV streaming service blinkbox in 2011 and personalised internet radio service WE7 in June 2012," the company commented in a press release.
According to Mobcast, e-Book sales via portable devices are projected to reach nearly $10 billion globally by 2016, three times expectations for 2012, with close to 30% of e-books purchased on tablets, 15% on smartphones and 55% on e-readers. And while Tesco accounted for 10.7% of UK entertainment sales this spring, Amazon gained a 21.1% share according to British trade journal The Bookseller.Continue reading...