BarnesandNoble.com, America Online Expand Partnership and Enter into
4-Year, $40 Million Commerce Agreement
NEW YORK AND DULLES, VA. (Dec. 17) BUSINESS WIRE -Dec. 17, 1997--
Far-Reaching, Exclusive Agreement Includes Unique BarnesandNoble.com
Links Throughout Service, Enabling AOL Members to Easily
Find Titles Related to Online Content; Integration
Advances Proven Partnership of Two Leading E-Commerce
Brands and Includes Placement Within AOL Studios Properties
BarnesandNoble.com, the online subsidiary of the world's largest
bookseller, and AOL Networks, the Internet online services division of
America Online Inc. (NYSE: AOL), the world's leading online service,
Wednesday announced an agreement to renew and significantly expand
their existing online relationship.
AOL will receive payments totaling $40 million over the four-year term
of the agreement. BarnesandNoble.com has been the exclusive bookseller
in AOL's Marketplace since March 1997; this agreement will leverage the
brand recognition and extensive product offerings of BarnesandNoble.com
across the AOL service to AOL's more than 10 million members with one
of the broadest and most comprehensive integrations by an AOL partner.
This expanded relationship gives BarnesandNoble.com extensive placement
and visibility throughout the AOL service, including the AOL "Find
Central" area and AOL Studios properties like Entertainment Asylum,
Electra, Real Fans, Love@aol and Digital City.
BarnesandNoble.com will also leverage a host of promotional and
marketing opportunities throughout the AOL service in such high-traffic
areas as Personal Finance, Lifestyles and Entertainment; in more
targeted areas like Health, Travel, WorkPlace and Influence; and in
virtually all of the current international services. BarnesandNoble.com
will also be directly accessible from online auditoriums during select
live events with authors and personalities.
Contextual integration will enable AOL members to locate
BarnesandNoble.com titles related to the content of the channel they're
reviewing, and will make it easier than ever for members to explore and
buy books online from BarnesandNoble.com .
For example, AOL members in the Personal Finance Area will be able to
link instantly to the BarnesandNoble.com Investing Basics Bookstore;
contextual links in the AOL Travel section can point members directly
to titles relating to geographic locations, travel guides and other
travel topics.
"The expansion of our agreement with BarnesandNoble.com is testimony to
the success of our existing relationship," said Bob Pittman, president
and chief executive officer of AOL Networks. "Barnes & Noble is a brand
that consumers know and trust, and has the unique power to draw
consumers online. BarnesandNoble.com is providing the best possible
online experience for book buyers.
"So this is the makings of a super partnership: BarnesandNoble.com's
proven track record online combined with AOL's emergence as the largest
and most commerce-friendly cyberspace community with demographics that
are attractive to America's leading retailers."
Steve Riggio, vice chairman of Barnes & Noble Inc., added, "We are
committed to innovation and leadership in the explosively growing
online book market, and we have the best and most strategic partner
possible in America Online.
"AOL's established base of more than 10 million members collectively
represents the most sophisticated consumers buying online, and is the
single most important audience successful retailers must reach in order
to grow online business.
"AOL has worked with us to develop one of its most far-reaching and
creative marketing programs to date, one that we believe will set a new
standard for electronic commerce. Based on the scale of our current
business on AOL, we expect this expanded relationship will grow our
sales exponentially into the next millennium." About AOL Networks
AOL Networks is the Internet online services division of America Online
Inc. Based in Dulles, Va., AOL is the world's leading Internet online
service, with over ten million members worldwide.
Founded in 1985, AOL offers its subscribers a wide variety of
interactive services including electronic mail, Instant Message
features, entertainment, reference, financial information, computing
support, interactive magazines and newspapers, as well as easy access
to all the services of the Internet. About BarnesandNoble.com
Since its inception in early 1997 as an online subsidiary of Barnes &
Noble Inc., BarnesandNoble.com has continually introduced innovations
to the online bookselling marketplace. The company was the first to
offer deep discounts online, create compelling community environments,
provide substantial inventory on its shelves and deliver personalized
e-commerce.
In addition to its presence on AOL, BarnesandNoble.com offers books to
customers worldwide through it own Web site
(http://www.barnesandnoble.com).
Barnes & Noble Inc. (NYSE: BKS) is the world's largest bookseller. It
is the leading operator of book superstores in America, with 484 stores
nationwide, in 48 states. It also operates 555 bookstores in shopping
malls, in 46 states.
The company also publishes books under its own imprint for exclusive
sale through its retail stores and nationwide mail order catalogs.
General financial information on Barnes & Noble Inc. can be obtained
via the Internet by visiting the company's investor relations Web site:
shareholder.com .
-0- MF/ph*
CONTACT: America Online
Wendy Goldberg, 703/265-2359
or
Cunningham Communications
Patrick Ward, 617/494-8202
KEYWORD: VIRGINIA NEW YORK
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED PUBLISHING
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