DEG: Streaming Now Accounts for 80% of Home Entertainment Spending

Consumer spending on home entertainment in the third quarter of 2021 rose to nearly $8 billion, a gain of almost 10% from the prior year’s July through September period, according to estimates released Nov. 8 by DEG: The Digital Entertainment Group.

Just over 80% of that total, or an estimated $6.4 billion, was spent on subscriptions to streaming services such as Netflix and Disney+.

Total spending on home entertainment for the first nine months of the year, through Sept. 30, was pegged by DEG at $23.6 billion, a year-over-year gain of more than 6%. The DEG’s report notes that this spending gain “came amid a nearly 63% drop in box office.” An estimated $18.6 billion, or 79% of total consumer home entertainment spending, came from streaming, a figure that’s up 19.5% from the first nine months of 2020.

On the transactional side, total consumer spending on disc and digital sales and rentals in the third quarter was down 13% to $1.576 billion, although for the first nine months consumer spending on physical and digital media transactions sunk more than 24% to an estimated $5 billion, compared with more than $6.6 billion in the first nine months of 2020.

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Digital sales of movies, TV shows and other filmed content came in at $557.8 million for the quarter and $1.7 billion for the first nine months of the year, down 13.5% and 24.5%, respectively, from the prior year.

Sales of DVDs, Blu-ray Discs and 4K Ultra HD Blu-rays generated an estimated $430.5 million in the third quarter and $1.4 billion in the first nine months of 2021, down 11% and 21.6% from the comparable periods in 2020, respectively.

Digital rentals during the third quarter fell 15.3% to $388.7 million, and 28.5% to $1.3 billion year to date, with disc rental revenues down 11.7% to $198.7 million and 21.3% to $629 million during the same time frames.

According to DEG, “factors limiting growth in the first nine months of 2021 include few new theatrical releases, which are historically a key driver of home entertainment spending, particularly in the earlier part of the period. However, with pandemic conditions improving as the year progressed and theatrical releases restarting, spending on home purchases of theatrical new releases has begun to pick up. It is expected to continue in a positive direction as theatrical releases across the industry return to a typical pattern.”

The trade group noted that during the third quarter of 2021, physical media sales of new theatrical releases rose 38%, with digital sales up 73%, “according to one reporting source.”

It is important to note that DEG numbers do not include revenue from premium VOD releases, in which new films command a higher sales and/or rental price shortly after their theatrical bow, but before their traditional release to home entertainment channels. Earlier this year, Universal Pictures Home Entertainment president Michael Bonner in a DEG presentation estimated “there’s a billion dollars in consumer spending that is not captured” in the trade group’s numbers.

“And those numbers are not insignificant,” he said. “We’ve seen tremendous engagement from consumers in that product that’s made available in early windows.”

DEG: Streaming Again Triggers Surge in Consumer Home Entertainment Spending While Catalog Keeps TVOD Afloat

U.S. consumers spent an estimated $15.7 billion to watch movies, TV shows and other filmed content on home and mobile platforms in the first six months of 2021, DEG: The Digital Entertainment Group reported Aug. 10.

The trade group reported the total spend was up 5.2% from the first half of 2020, when consumer spending on home entertainment was pegged at $14.9 billion.

The big winner, as expected, was subscription streaming, which posted a 21.4% gain to an estimated $12.2 billion.

The transactional segment, which includes a la carte disc and digital purchases and rentals, was down a whopping 28.7% to an estimated $3.4 billion, from $4.8 billion in the first six months of 2020.

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This reflects the pronounced lack of new product available to buy or rent in the first half of this year, when uncertainty about COVID-19 prompted the studios to hold back releases until they had more clarity. New theatrical releases, the DEG stated, have “historically [been] a key driver of home entertainment spending.” In January, virus cases were surging to record highs. Then came the vaccine and a swift drop-off in new cases, resulting in a gradual reopening of theaters. Movie houses in Los Angeles, the center of the film industry, didn’t begin to reopen until March.

Another key reason for the sharp decline in consumer transactional spending reported by the DEG is that the trade group does not track revenue generated from a premium rental or sales window that studios adopted in lieu of a theatrical release, even though this, too, is money spent on home entertainment consumption.

In a DEG presentation Universal Pictures Home Entertainment president Michael Bonner estimated “there’s a billion dollars in consumer spending that is not captured” in the trade group’s numbers.

“And those numbers are not insignificant,” he said. “We’ve seen tremendous engagement from consumers in that product that’s made available in early windows.”

Given the lack of theatrical new releases, spending on library titles “is notably strong,” the DEG stated. Over the past two years, digital catalog sales have grown at an annualized rate of 17%, a record high.

Popular catalog titles in the period included the eight “Fast & Furious” films and “The Office” TV series from Universal Pictures Home Entertainment, Warner’s “Game of Thrones” and Harry Potter Complete 8-Film Collection DVD and Blu-ray Disc collections, Lionsgate’s John Wick Triple Feature disc set, and Paramount Home Entertainment’s A Quiet Place and “Yellowstone” sets.

The DEG noted that the 5% increase in U.S. home entertainment spending in the first half of 2021 came amid a nearly 88% drop in box-office performance for the films released in the period, due to prolonged movie theater closures due to the pandemic.

Looking at the DEG’s defined home entertainment market that excludes PVOD revenue, subscription streaming’s share of total home entertainment revenue rose to 78% by the end of June 2021, up from a 67.6% market share a year ago.

That means that the disc market (sales and rentals) fell to 8.8% of the home entertainment picture in the first half of 2021, down from 12.4% a year ago, while transactional VOD (digital sales and rentals) was down to 13.2%, from 20% a year ago.

Disc sales on their own were down to 6% in the first half of 2021, down from 8.6% a year ago.

Among just transactional home entertainment sources, disc sales and rentals comprised 40%, up about 1.73% from a year ago, with TVOD comprising 60%.

Home Entertainment Spending in 2020 Up 21% to Record $30 Billion, DEG Says

Consumer spending on home entertainment in 2020 shot up more than 21% from the prior year to a record $30 billion, spurred by movie theater closures and stay-at-home orders brought on by the coronavirus pandemic, according to estimates released Jan. 27 by DEG: The Digital Entertainment Group.

The trade group noted that digital spending accounted for the majority of the gains, led by subscription streaming, which saw spending climb 37.2% to an estimated $21.2 billion.

Transactional video spending also posted significant increases, with digital rentals up 18.3% in 2020 over 2019 and digital sales, or electronic sellthrough (EST), up 16%. According to DEG estimates,  consumers spent more than $2.3 billion renting movies and other filmed content through digital retailers (both cable and Internet) in 2020, compared with just under $2 billion in 2019, and nearly $3 billion on purchases, up from $2.6 billion the prior year.

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Consumers spent an estimated $2.5 billion on buying Blu-ray Discs, DVDs and 4K Ultra HD Blu-rays, down 25.6% from $3.3 billion the prior year. Disc sales had been declining for years but in 2020 sales were further diluted by retail store closures in the months following the World Health Organization’s March 11 declaration of a global pandemic.

In the fourth quarter, the DEG reported, total consumer spending on home entertainment rose nearly 16% from 2019 to an estimated $7.8 billion. Again, streaming led the way, with spending up 33% to an estimated $5.6 billion, or 72% of the total.

The DEG noted that premium video-on-demand (PVOD) figures are not included in the yearly or quarterly consumer spending totals. However, the trade group stated in a press release that “early insights suggest that interest is high, and results are strong. Universal has indicated that with 18 films released on PVOD across the past 10 months, with the addition of PVOD revenues, the company generated over four times what it would have expected to earn in the traditional digital home entertainment window alone. In total, the combined in-home consumer spend on these new Universal releases on a transactional basis represented over $500 million.”

Michael Bonner, the newly appointed president of Universal Pictures Home Entertainment, said in a statement, “Since the launch of PVOD, we’ve learned a tremendous amount, much of which has validated our belief that PVOD is poised to complement the theatrical business in a way that can meaningfully benefit the ecosystem across consumers, distributors and studios.”

The DEG also released the top 20 films for the year on its “Watched at Home” chart, which combines sales of physical media with digital rentals and sales.

  1. Frozen II (Disney)
  2. Jumanji: The Next Level (Sony Pictures)
  3. Star Wars: Episode IX — The Rise of Skywalker (Disney)
  4. Joker (Warner)
  5. Sonic the Hedgehog (Paramount)
  6. Bad Boys for Life (Sony)
  7. 1917 (Universal)
  8. Scoob! (Warner)
  9. Ford v Ferrari (20th Century)
  10. Knives Out (Lionsgate)
  11. Trolls World Tour (DreamWorks/Universal )
  12. Yellowstone: Season 1 (Paramount)
  13. Onward (Disney)
  14. Birds of Prey and the Fantabulous Emancipation of One Harley Quinn (Warner)
  15. Yellowstone: Season 2 (Paramount)
  16. Yellowstone: Season 3 (Paramount)
  17. Harry Potter Complete 8-Film Collection (Warner)
  18. Maleficent: Mistress of Evil (Disney)
  19. Bloodshot (Sony)
  20. Midway (Lionsgate)

Tubi: 25% of SVOD Subs Have Dropped Service for AVOD

Tubi, Fox Corp.’s ad-supported VOD service, Sept. 10 released new data underscoring what it claims is a rise in popularity of so-called “free streaming” or ad-supported video-on-demand services.

Citing data from research firm OnePoll, Tubi said 25% of survey respondents have dropped a SVOD streaming service in favor of AVOD in the past few months. In addition, 37% surveyed said they would try a new streaming service with ads to discover new content. The OnePoll online survey polled 2,000 people nationwide from Aug. 7 to 12, 2020.

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San Francisco-based Tubi, which Fox acquired earlier this year for $440 million, said the ongoing coronavirus pandemic has caused financial difficulties resulting in 33% of respondents reevaluating their subscription streaming services. To save money, 25% started a free trial and canceled it before paying the subscription fee, with the average person who employs this tactic doing so three times.

Meanwhile, 17% have shared passwords with others in order to gain access to streamers they don’t subscribe to, with 38% of respondents 18-24 and 31% of 25-34 participating in password swaps.

The survey also showed that streaming has continued to boom with social distancing practices still in place, with over half of respondents (52%) stating that they streamed more than they would in a typical summer due to stay-at-home restrictions with COVID-19. Over the past two months alone, the average person has binged four shows and watched 20 movies.

Respondents ages 25 to 34 increased their streaming the most this summer, with the average person watching an additional four hours of content a day on top of what they were watching at the start of quarantine in March or April.

Streaming has also continued to be a resource for parents with children at home, as two in five parents — nearly half — estimate that their child is streaming more now than when the pandemic started. With many activities canceled this summer because of the pandemic, a third of parents were dependent on streamers to keep their child busy. At the same time, over half (55%) think that TV has become an educational tool to keep their child learning when school is not open.

In addition, 39% of respondents are struggling to find new content on streamers, leading 35% to try a new streaming service to find different content.

DEG: Consumer Spending on Digital Sales, Rentals Rose 54% in Q2

As expected, the transactional home entertainment market posted significant consumer spending gains in the first half of 2020, fueled by stay-at-home orders and restaurant, bar and business closures that began in mid-March due to the coronavirus pandemic.

Consumer spending on digital entertainment purchases and VOD rentals in April, May and June shot up 54% according to numbers released Aug. 20 by DEG: The Digital Entertainment Group, a trade association for the home entertainment industry.

DEG numbers do not include premium VOD or AVOD data. During a DEG presentation on the first-half data, DEG president and CEO Amy Jo Smith said the trade group will begin tracking “emerging product” PVOD “assuming it stays in the marketplace.”

“Consumers really do want to get new and fresh content, and they are willing to pay for it,” she noted of the new distribution model.

Consumers spent an estimated $2.99 billion on digital transactional entertainment in the first six months of this year, one-third more than the $2.25 billion they spent in the first half of 2019.

Digital sales of movies, series and other filmed content was up 57% in the second quarter and 33% in the first half, while transactional streaming, in which consumers “rent” a program for a limited time, generally 48 hours, was up 50% in Q2 and 33% in the first six months of the year.

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Digital transactions eclipsed disc sales and rentals, DEG numbers show. Combined DVD and Blu-ray Disc sales in the first half fell 17% to an estimated $1.27 billion, although sales rebounded significantly in the second quarter, down just 11% compared with a drop of more than 22% in the first quarter.

Disc consumers were looking for bargains, noted Judith McCourt, of Redhill Group, during the DEG presentation.

“We saw particularly strong demand for DVDs that were priced under $10 and for DVDs that were priced under $6,” she said.

The tendency among some studios and independent suppliers to release lesser-known titles only on DVD and digital, skipping Blu-ray Disc, also appeared to pay off. DEG said that after years of double-digit declines, spending on DVD was down just 6% in the second quarter, with sales of budget-priced discs actually up 3%.

Total sales, physical and digital, rose nearly 19% in the second quarter and 4.9% in the first half, while total rentals were up 15% in the second quarter and 9% in the first half.

Combined, consumer spending on specific transactions, either sales or rentals, rose to $4.83 billion in the first half of 2020, from $4.54 billion in the first half of 2019, while spending in the second quarter soared to $2.45 billion from $2.09 billion in Q2 of 2019 — an uptick of more than 17%.

Earlier this month, Media Play News reported that the home entertainment divisions of five major studios reported significant gains in second-quarter sales, despite the absence of fresh theatrical product.

One factor was the re-routing of movies headed for theaters, such as Trolls World Tour, to early digital release; the other was a spike in demand for older films.

DEG reported that digital sales and rentals of theatrical catalog movies rose 66% in the second quarter.

TV product, presumably led by Warner Bros., also posted significant gains in digital transactions, with consumer spending in the second quarter up 72% on purchases and 120% on rentals. Internet VOD TV content consumption was up a whopping 119% overall in the second quarter.

“We are looking at numbers that we have not traditionally seen, but these are not traditional times,” McCourt said during the presentation.

Cable VOD, too, saw a jump in the second quarter despite cord-cutting, growing 11% over the same quarter in 2019 after actually falling 5% in the first quarter, McCourt said.

Despite these gains, subscription streaming continues to dominate consumer home entertainment spending. The DEG estimated that streamers generated $10.3 billion in consumer spending in the first six months of 2020 and $5.54 billion in the second quarter, respective gains of 37% and 42% from the comparable periods last year.

Total consumer spending on home entertainment across digital and physical formats in the first six months of 2020 was $15.1 billion, DEG reported, up 25.7% from the $12 billion consumers spent in the first half of 2019. Second-quarter spending is pegged by the DEG at $7.98 billion, up 33.6% the second quarter of 2019.

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For the second quarter, subscription streaming accounted for 69.3% of the total home entertainment market, compared with 8% for disc sales, 3.1% for disc rentals, 10.8% for electronic sellthrough, and 8.7% for VOD. Excluding SVOD, digital transactions outperformed physical ones 63.8% to 36.2%.

For the first half of 2020, subscription streaming accounted for 68% of the total home entertainment market, compared with 8.4% for disc sales, 3.8% for disc rentals, 10.7% for electronic sellthrough, and 9.1% for VOD. Excluding SVOD, digital transactions outperformed physical ones 61.8% to 38.3%.

Additional reporting by Stephanie Prange and John Latchem.

DEG: Home Entertainment Spending Posts 7% Gain in First Half of 2019

Consumers spent nearly $6 billion on home entertainment in the second quarter of 2019, a 7% gain from the same period last year.

The gain came despite a nearly 10% year-over-year decline in the box office value of movies that became available for in-home viewing during the quarter, according to DEG: The Digital Entertainment Group.

Granted, the rising reliance of subscription streaming services like Netflix on original content, mostly digital TV series, has made comparisons between home entertainment spending and the box office earnings of movies a bit less relevant.

But the disparity still suggests a growing number of consumers prefer to enjoy their entertainment at home.

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For the first six months of the year, consumer spending on home entertainment came in at just over $12 billion, a 6.7% uptick from the first half of 2018.

The box office value of films released to the home during that same period, meanwhile, fell more than 15.5% to just over $5 billion.

As expected, increases in consumer spending on streaming were largely responsible for the gains in overall home entertainment spending.

DEG estimates consumers spent nearly $7.5 billion on subscriptions to Netflix, Amazon and other streaming services in the first half of this year, a 22% increase from the first half of 2018. Spending in the second quarter, which ended June 30, rose more than 23% to $3.89 billion.

The only other category to post an increase in consumer spending during the first half of 2019 was electronic sellthrough (EST), or the digital purchase of movies and other content, which generated an estimated $1.2 billion in consumer spending, up 3.3% from the first six months of 2018.

Breaking the numbers apart, DEG says first-half spending on theatrical EST was up nearly 8%, while spending on video on demand for theatrical movies rose more than 9%. Total transactional VOD spending in the first half of the year came in at just over $1 billion, a decline of nearly 4% from the prior year’s first half.

Combined DVD and Blu-ray Disc sales for the first half of 2019 amounted to an estimated $1.5 billion, down about 21% from the first six months of 2018. In the second quarter, disc sales generated $716 million in revenue, down 19.3% from the second quarter of 2018.

Combined disc and digital ownership for the half-year was $2.75 billion, down 11.8% from the previous year. Content ownership in the quarter was $1.27 billion, down 12.1% from the same period a year ago.

DEG: Q1 2019 Consumer Spending on Home Entertainment Up 6.4%

Fueled by digital — subscription streaming as well as transactional  — home entertainment spending in the first quarter of 2019 rose 6.4% from the first quarter of the previous year, to $6.04 billion, according to DEG: The Digital Entertainment Group.

Subscription streaming, led by Netflix, rose 21% in the quarter to an estimated $3.6 billion, DEG said, citing IHS Markit estimates.

The increase shows that with the reliance by streamers on original and TV content, the at-home sector is becoming increasingly impervious to the whims of the box office.

The theatrical value of films that came to the home market in the first quarter, according to DEG, was down nearly 20%.

Take streaming out of the equation and consumer spending on home entertainment was down 9.3%.

Consumer spending on digital transactional video, both purchase (electronic sellthrough, or EST) and limited-time viewing, came in at nearly $1.23 billion, up 4.6% from just under $1.18 billion in the first quarter of 2018.

EST sales rose 6.7% to $665.5 million, up from $623.7 million, while limited-time VOD, the digital equivalent of rental, generated an estimated $564.1 million in consumer spending, up 2.3% from $551.6 million.

Disc sales continued to decline, falling below the $1 billion mark in the first quarter of 2019 to an estimated $822.25 million, a drop of 23% from $1.06 billion in the first quarter of 2018 — pretty much in line with the decline in the collective box office earnings of movies that were released to the home market in the same time frame, to $2.89 billion from $3.59 billion in the year-ago quarter.

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The disc rental market fared better, with consumers spending just under $400 million to rent DVDs and Blu-ray Discs from Redbox kiosks, freestanding video rental stores and Netflix’s disc-by-mail rental option. That’s down 14.6% from the prior year’s first quarter.

Citing CTA numbers, DEG noted “there is continued significant growth among 4K Ultra HD hardware products,” with Ultra HD TVs now in about 53.4 million households, an increase of 55% from a year ago. The number of households with at least one 4K Ultra HD Blu-ray playback machine rose 63% to 14 million.

The top-selling disc release of the first quarter, according to NPD Group’s VideoScan tracking service, was 20th Century Fox’s Bohemian Rhapsody.

The top 10 DVD and Blu-ray Disc sellers of 2019, through March 31:

  1. Bohemian Rhapsody (Fox)
  2. Aquaman (Warner)
  3. Ralph Breaks the Internet (Disney)
  4. Fantastic Beasts: The Crimes of Grindelwald (Warner)
  5. A Star Is Born (2018) (Warner)
  6. The Grinch (Universal)
  7. Spider-Man: Into the Spider-Verse (Sony Pictures)
  8. Mary Poppins Returns (Disney)
  9. Halloween (2018) (Universal)
  10. Creed II (Warner)

Source: NPD Group

Streaming, TVOD Fuel Consumer Spending on Home Entertainment to Record Heights

Consumer spending on home entertainment hit a new record in 2018, buoyed by subscription streaming as well as transactional video-on-demand (TVOD), DEG: The Digital Entertainment Group announced Jan. 8.

Total consumer spending on home entertainment during the year shot up to an estimated $23.3 billion, up 11.5% from total consumer spending in 2017, the DEG said, noting that figures are preliminary. Final numbers will be issued in early February.

As expected, subscription streaming — chiefly through Netflix, Amazon Prime Video and Hulu — led the way, with a 30% year-over-year gain to $12.9 billion.

Consumers spent an estimated $2.46 billion on digital purchases of movies, TV shows and other content, up 14.4% from what they spent in 2017.

They spent another $2.09 billion to stream movies on demand, the electronic equivalent of renting a DVD or Blu-ray Disc, up 6.2% from the prior year.

Total spending on TVOD, the DEG estimates, came in at $4.55 billion, a healthy 10.5% spike from TVOD spending in 2017.

Total disc sales continued to fall, despite the growing popularity of 4K Ultra HD Blu-ray, with consumer spending on physical media in 2018 coming in at an estimated $4.03 billion, a 14.6% drop from the prior year.

In the fourth quarter, home entertainment spending was particularly strong, with an overall gain of 13% to $6.3 billion.

Subscription streaming the fourth quarter was up 30% to an estimated $3.49 billion, while EST rose 20.2% to $664 million and on-demand streaming was up 21.8% to nearly $517 million.

Combined consumer spending on DVDs and Blu-ray Discs in the fourth quarter of 2018 was $1.24 billion, down 14.8% from the fourth quarter of 2017.

Sales of 4K UHD content rose 70% during the year and 46% in the fourth quarter. The number of 4K Ultra HD Blu-ray titles available in the market grew to 445 titles, with another 682 4K titles available digitally.

The box-office performance of films released in the year rose nearly 15%.

Among the bestselling film titles released on 4K for the home in 2018 were: Justice League (Warner Bros.), Ready Player One (Warner Bros.), Mission: Impossible — Fallout (Paramount), Jurassic World: Fallen Kingdom (Universal Pictures), Deadpool 2 (20th Century Fox) and Avengers: Infinity War (Walt Disney Studios).

4K UHD TV penetration rose 61% over the year-earlier period, to 48 million households, DEG says. Also during the year, penetration of 4K-capable player devices (game consoles and set-top boxes) rose 66%, to 13 million homes.

 

 

Parks: U.S. Broadband Homes Have More Than Seven Video Devices

In an over-the-top video world, Parks Associates announced new research claiming U.S. broadband households have on average more than seven video access devices, including TVs, computers, tablets, and smartphones.

The trend is consistent with previous reports suggesting almost 20% of younger consumers (aged 18-24) use live streaming video apps.

Last November, Parks reported that more than 50% of OTT video households subscribed to multiple SVOD services, with 81% using Netflix and at least one other service. That statistic is similar to broadband homes.

“Nearly 40% of U.S. broadband households subscribe to multiple OTT video services, and consumers expect to access their high-quality content on any platform, at any location where they live or go for work or fun,” said SVP Elizabeth Parks in a statement. “Demand for connected AV experiences is opening new business opportunities for integrators and companies that can provide expert managed services across multiple platforms and locations.”

 

Barnes & Noble Narrows Q3 Loss

In an age of ecommerce, Amazon and free shipping, Barnes & Noble is putting on a brave face despite fiscal appearances of a “dead retail chain walking.”

The chain reported a third-quarter (ended Jan. 27) loss of $63.5 million, which was an improvement from a loss of $70.2 million during the previous-year period. Revenue declined 5.3% to $1.2 billion from $1.3 billion.

Specifically, retail sales topped $1.2 billion, down from $1.27 last year. Nook segment revenue, which includes digital, consumer electronics, dropped almost 20% to $30.9 million from $38.4 million.

The declines underscored a same-store decrease of 5.8% primarily due to lower foot traffic. Alarming, considering the period included the winter holidays when even non-readers frequent bookstores – and merchandise includes DVD/Blu-ray Disc movies and TV shows.

“While we were disappointed with our holiday sales, comparable store sales trends did improve in January,” CEO Demos Parneros said in a statement.

Perneros is Barnes & Noble’s fourth CEO since 2013, upgrading from the COO position last April after former CEO Ronald Boire was fired.

The executive is saying all the right things, including strengthening the core business by “enhancing the customer value proposition,” improving profitability through an “aggressive expense management,” which he says will fund growth initiatives, simplify the retail experience and innovate for the future.

“We have initiated a strategic turnaround plan that is centered on growing the business and enhancing shareholder value,” Perneros said. “In the short term we are focused on stabilizing sales, improving productivity and reducing expenses.”

In February, the chain implemented a companywide expense reduction plan, including a new store labor model that provides greater flexibility by eliminating tasks and allowing employees to focus more on customers. It estimates these actions will result in annual cost savings of about $40 million.

But short of becoming Amazon, which launched as an online bookseller during the dotcom era, B&N is treading water.

Indeed, purchasing Oscar-nominee DVD, Darkest Hour, at B&N.com costs $25.17 — and $17.96 on Amazon.