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Steve Martin and Sony (SNE) bomb at the box office

Poor Steve Martin. I really like that guy. He's funny, he's intellectual, and he's an all-around cool gentleman. Unfortunately for him, his latest film, a sequel to the 2006 version of The Pink Panther, failed at the box office over the weekend.

According to Boxofficemojo, The Pink Panther 2, distributed by Sony (NYSE: SNE), is estimated as of this writing to have taken in only $12 million at domestic theaters. That was terrible, and it gave the picture a fourth-place ranking, just above Sony's other comedy in the marketplace, Paul Blart: Mall Cop, which will cross the $100 million mark soon. So, I guess Sony has something to take its corporate mind off the Martin debacle.

Continue reading Steve Martin and Sony (SNE) bomb at the box office

Oprah Effect works for business books too -- especially when they're free

Since the announcement on Oprah's television program that Suze Orman's financial advice book Money & Women would be available for free as an e-book from Oprah.com, more than a million copies in English have been downloaded, as well as an additional 19,000 in Spanish, according to a statement released Saturday. This puts it the same league as such other free download sensations as the 9-11 Commission Report and Stephen King's "Riding the Bullet."

Yet, the offer hasn't kept people from buying the version of Money & Women published by a division of Random House last year. The book was ranked number 6 on Amazon on Saturday, behind Oprah Book Club selection A New Earth and just ahead of Barack Obama's The Audacity of Hope. The 9-11 Commission Report remained a bestseller for months despite its availability for free online.

The big publishers remain skeptical about providing content for free online. While some see it as a valuable marketing tool, others suspect that it harms sales of traditional books. But the tide may be turning, albeit in baby steps. HarperCollins has announced plans to make available free electronic versions of some of its books, or portions thereof, the New York Times reported last week. They will not be downloadable, however.

Providing some free content is "like taking the shrink wrap off a book," said a spokesperson for HarperCollins, which will allow consumers to sample the content. "I didn't grow up buying every book I read," added fantasy novelist Neil Gaiman, author of some of the free content. "I read books at libraries, I read books at friend's houses, I read books that I found on people's window sills."

Suze Orman suggests that sales are a secondary concern for her in the Oprah offer. "This was not about getting people to buy the book, but getting them to read it, and that was the intention behind this offer."

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Last updated: November 27, 2009: 10:36 AM

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