Barnes & Noble struck licensing deals with Lionsgate, MGM, Paramount… (Jae C. Hong / Associated…)
In a bid to spur sales of its struggling Nook tablet, Barnes & Noble Inc. struck deals with major Hollywood studios that will make more movies and television shows available on the device.
Barnes & Noble's Nook Media subsidiary reached licensing deals with Lionsgate, MGM, Paramount Pictures, Relativity Media and others that will deliver thousands of additional videos to the service, including such hit films as "The Hunger Games," the "Twilight" movies, "Flight" and "Paranormal Activity 4" and television shows such as "Mad Men."
"Nook is one of a growing spectrum of new digital buyers for our films and TV content and illustrates the breadth and depth of opportunities for monetizing our content across a broad array of platforms," Thomas Hughes, Lionsgate's senior vice president of digital, said in a statement.
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The announcement follows a difficult holiday quarter for the nation's largest bookstore chain, which was hurt by a dramatic decline in sales of its Nook devices. Revenue for the company's Nook businesses fell 26% in the quarter that ended Jan. 26.
Barnes & Noble faces intense competition from retail rival Amazon.com, with its popular Kindle e-readers and tablets, as well as from devices powered by Google Inc.'s Android software. Both offer more apps and entertainment content.
The Nook Video service launched last fall with movies and TV shows from Walt Disney, Sony, Viacom, Warner Bros., HBO and Starz. The newly announced deal expands its entertainment offerings.
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