Netflix for Readers?
Amazon offers now an e-book rental service: “Kindle Unlimited”. The “all-you-can-read” book service costs $9.99 per month. Amazon’s big advantage could be its offering of nearly 8,000 titles in audio-book format and over 600,000 e-book titles. The current Kindle Owner’s Lending Library has a one-book-per-month cap, so this could be an option for Prime users who want more access. More here: http://savvybookwriters.wordpress.com/2014/07/18/all-you-can-read-kindle-e-book-subscriptions/
What it Means for Authors
From their news release: "Authors & publishers who enroll their books with U.S. rights in KDP are automatically enrolled in Kindle Unlimited.
Reach more readers – With each 90-day enrollment period, your book will appear in Kindle Unlimited in the U.S. and the Kindle Owners’ Lending Library (KOLL) in the U.S, U.K., Germany, France, and Japan which can help readers discover your book.
Earn More Money
When your book is selected and read past 10% content from Kindle Unlimited or borrowed from KOLL, you will earn your share of the monthly KDP Select Global Fund. You can also earn a 70% royalty for sales to customers in Japan, Brazil, India, and Mexico.
Author-Publishers Have an Advantage:
Amazon doesn’t have any books from the so-called “Big Five” publishers: Penguin Random House, Simon & Schuster, HarperCollins, Macmillan, and Hatchette. Some of these big houses have agreements with Oyster, as well as Scribd, and are likely not cooperating with Amazon’s new service."
Amazon seems to become the 21st century’s digital library. “Kindle Unlimited” could completely change the market. Why purchase individual e-Books or bulky physical copies when you can read hundreds of thousands of books for just $9.99?