The prestigious Barnes & Noble, Inc.(NYSE:BKS) will be adding to its Nook e-books, the facilities of video streaming as well as downloading abilities. Nook e books and device business is something which the largest bookstore chain in America took up, to keep up with the fast changing times. The Nook tablets have become quite popular with people. But even so, the company has to keep up with one of its main competitors, Amazon.com, Inc.(NASDAQ:AMZN).
The Video streaming facility will allow e-shoppers to buy and save television series, as well as movies from a host of different, famous studios, such as Sony Pictures Home Entertainment, Viacom Inc, Time Warner Inc's HBO and Walt Disney Studios. Barnes & Noble is talking to a host of other studios for partnerships for the Nook.
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The Nook tablet was widely accepted by the ever-growing population of e-book readers. They seem to be quite satisfied with the tablets, although Amazon is surely giving Barnes & Noble a run for their money. The makers of Kindle Fire, Amazon also sells a host of other products apart from books, and it already has Prime Instant Video Service where there are videos which are for sale. Also, the Amazon subscription service is linked to Prime. This allows free shopping for the buyers for two days, along with a yearly charge of $79.
Amazon also has a five year deal going on with Hollywood Studios Epix, where about a thousand videos may be streamed by the users, to the library.
James Mcquivey stated that in order to keep up with Amazon, Barnes & Noble will soon have to sell many more products. Also, the Forrester Research analyst stated that despite the Nook tablets being better than the Kindle in some cases, the competition will still be a stiff one for the former.
The new facilities will be made available to the U.S.A this autumn, after which video streaming and downloads will be supported in the Tabs, which will be using cloud computing. The Nook Tablets will be released along with there facilities to the U.K in the autumn as well, in order to rope in the holiday crowds.
Shares of BKS pared early gained and were recent trading lower by 4% to $12.22, off session high of $13.61. Shares of AMZN also fell 1%.