Amazon.com Planning To Get Into Digital Book Lending Market
Amazon.com, Inc. (NASDAQ:AMZN) is preparing the launch of a digital-book lending service that will be available to Kindle and Kindle Fire owners that subscribe to Amazon Prime. This program will be limited initially with over 5,000 titles in the library. Currently none of the six largest publishers in the U.S. is participating in this service.
Amazon will restrict borrowers to one title at a time and one per month. Borrowers can keep the digital title for as long as they want. When they borrow a new title, the previously borrowed book will disappear from their device.
The new service will be called the Kindle Owners’ Lending Library. The program is expected to launch today. Amazon is hoping that this service will lure more people to join Amazon Prime. Prime is a service that costs $79 per year.
Amazon Prime initially launched to offer package shipping perks, but the company has added a video streaming feature to the subscription. There is about 13,000 movies and TV shows in Amazon Prime.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry