The company recently entered into marketing agreements with a number of Internet sites and content providers, including America Online, Excite, Netscape, Yahoo! and. For the first nine months of 1998, the company had a net loss of $4 million on sales of $11.5 million.Īudio Book Club acquires members both through direct mail and via its Web sites ( and ). The company has lost money every year since its 1994 inception but it expects to turn a profit next year.
With its other recent acquisitions, the company estimates its 1999 revenue to be about $60 million. This is the Nobel Prize laureates first book of new writing since 2004s Chronicles. The acquisition of Columbia House, which had sales last year of about $30 million, will more than double Audio Book Club's annual revenue, to about $50 million, according to chairman/CEO Norton Herrick. tapes at Tokyos Nippon Budokan Hall on February 28 and Maand. to an audio book at school because they cannot keep listening to it at home without. The BMG and Columbia House record clubs used a method called 'negative option billing. Audio Book Club also recently purchased Radio Yesteryear/Video Yesteryear, Radio Spirits and Adventures in Cassettes - companies that sell tapes of old-time radio shows - which had a combined customer base of 300,000. Prior to the acquisition, Audio Book Club had 450,000 members the addition of Columbia House's 600,000 brings the company's roster to more than a million customers. Following its recent acquisitions of Doubledays Audiobooks Direct and Columbia Houses Audiobook Club, Audio Book Club, Inc. A few months of automatic shipments later, you probably ended up like a lot of members did: as a no-income 14-year-old who owed Columbia House 47 for unwanted Sir Mix-a-Lot CDs. We believe it positions us as the dominant audiobook seller and provides us with an opportunity to grow our business both in direct mail and on the Internet."Īs part of the agreement, the Audio Book Club can use Columbia House's video, laser disc, compact disc and DVD club lists to acquire new members and can include inserts promoting its club in mailings to existing Columbia House club members. "It allows us to more than double our members and our revenue without adding a single individual or any additional overhead. "This is a perfect fit for us," said John Levy, chief financial officer of the Audio Book Club.
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