Amazon launches Kindle Unlimited e-book service
Amazon.com Inc. on Friday introduced Kindle Unlimited, an all-you-can-read e-book subscription service available for $9.99 a month.Similar to Netflix and other movie streaming services, Kindle Unlimited makes available a library of 600,000 titles and thousands of audio books for one monthly fee. The service is available for Kindle devices, Apple iOS and Android smartphones and tablets, and traditional computers.
Kindle Unlimited competes against Oyster and Scribd Inc., two start-ups that launched similar services in the last year. To Oyster CEO Eric Stromberg, Amazon’s arrival is a good thing.
“Them entering this space that we created is validation of the market,” he said. “Our strong belief is that as the e-book market grows and matures, an increasing amount of reading will happen through the subscription model in the same way that other media has shifted to that model as well.”
I can see how this would be a good deal for a lot of folks, but I’m wondering how authors get compensated out of this? It must be some fraction of their usual royalty.
O well, the Bezomoth rolls on, who knows what it will bring next?