It is not a huge surprise to see subscription e-book sites in the market but they don’t seem to be very popular. According to Mintel (2014) there are two main companies in the market, which are Scribd and Oyster but alas, Amazon joined the market with Kindle Unlimited in early 2014 that could be the push that this market needed to take over.
Scribd
https://www.scribd.com Image sourced: (2014)
Scribd is an example of this technology they offer their subscribers over 500,000 e-books. Their titles are available in over 100 countries and you can even get books offline. For more information visit their website.
How do publishers make money from Scribd?
It seems impossible for authors and publishers to make money from this business model but Scribd has mastered it, for the time being. According to Shaffi and Campbell (2014 pg. 5) every time a Scribd user reaches a certain point within the book, Scribd pays the publishers as though the book has been sold (this obviously varies on the book and who it is published by!) therefore publishers get paid and authors get their royalties.
Adler (Shaffi and Campbell, 2014) claims their business model is successful because on average subscribers read one book a month therefore consumers are basically paying $8.99 for one book. It is quite genius in terms of a business model because reader feels they are getting more value for money but in fact they are probably spending more on books than they usually would therefore this boosts sales in the publishing industry.
There is a lot of uncertainty within this market because readers interact with books for longer periods of time. Netflix is working for film because it only takes roughly 3 hours of interaction and while you are watching a film you can write your dissertation among other things but when you are reading a book it requires your full attention but will consumers want to read this way?
What does this mean for the future?
Shaffi and Campbell (2014, pg. 5) believe this is how society will read in the future and I think they are right. With these apps available on E-readers, desktops and most other forms of technology why buy one book for £6.99 when you can get unlimited access to 500,000 for less than £6.00 a month? I cannot remember the last time I bought a DVD because of my Netflix subscription so if I had a subscription to Scribd why would ever buy another book?
It is going to take time to get used to this form of reading, just as it took time to adapt to the e-book but it looks like this is going to be the future.
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References
Jones, P (2014). ‘Subscribe here now’. The Bookseller, Vol.260(40), Oct 7, 2013, p.3
Mintel (2014). 'Books and E-Books: Insights and Trends'. Available at: http://academic.mintel.com.oxfordbrookes.idm.oclc.org/display/679475/ (accessed: 24th November, 2014)
Nash, R (2010) Publishing 2020. Publishing research Quarterly. Vol. 26 (2). June 2010. p. 114-118
Oyster (2014). About us. Available at: https://www.oysterbooks.com/about (accessed: 23rd November, 2014)
Philips, A (2014). Turning the Page: the evolution of the book. Routledge: Oxon
Scribd (2014) About Us. Available at: https://www.scribd.com/about (accessed: 23rd, November, 2014)
Shaffi and Campbell (2014). ‘Adler: subscriptions the furture’. The Bookseller, Vol.260(40), Oct 7, 2013, p.5