Amazon Opens Digital Lending Library
Online retail giant Amazon has launched a digital book-borrowing service called Kindle Owner’s Lending Library but at this point it is only available to members of Amazon Prime. Members of the $79 per year program will now gain access to the company’s new digital book library service, Reuters is reporting.
Five-thousand titles are currently available, including more than 100 current and former New York Times best sellers. Publishers are not yet convinced how it will enhance their bottom line.
As for publishers, not all seem to be fully onboard with the concept at this stage. Amazon has agreed to set fees for most of the 5,000 titles, the company says, but for others it’s swallowing a fee each time the e-book is borrowed.
Amazon explains on its website, “Titles in the Kindle Owners’ Lending Library come from a range of publishers under a variety of terms. For the vast majority of titles, Amazon has reached agreement with publishers to include titles for a fixed fee.”
“In some cases, Amazon is purchasing a title each time it is borrowed by a reader under standard wholesale terms as a no-risk trial to demonstrate to publishers the incremental growth and revenue opportunity that this new service presents.”
Titles that support the lending option will offer a button in their listings to “Borrow for Free”. Choosing that option allows download of the e-book, with no limit on how long you can keep hold of it. Readers are allowed only a single borrowed book on the go at any one time, Slashgear’s Chris Davies reports.
On the Net: