You’ve heard of subscription television; now prepare yourselves for subscription books – the ‘netflix for books’ is here to stay.
What does this really mean though?
How much brighter does this make the world for the reader and the writer ?
Is it effectively a modern day virtual library? Hardly.
Although Amazon were not the first to introduce subscription books, their release of Kindle Unlimited (KU) five months ago brought subscription books to a world wide market. At first glance the deal is enticing for readers. To be able to borrow ten books per month for £ 7.99/month sounds tempting.
However unless you are a exuberant bibliophile you will never read the ten books allowed and if one or two books per month is the norm, then you could find yourself paying more than you would if buying books themselves. With so many books available for exceptionally low prices the monthly direct debit could easily become more expensive.
It is not only readers who should beware and approach with caution; writers too are beginning to struggle under the Kindle Unlimited contract.
Writers are paid a percentage amount according to the number of reads of their book. This comes from a monthly pool of money set aside by Amazon. Already some writers have noticed a 40%-75% drop in their revenue.
Income has fallen further for writers as customers have started reading KU books instead of buying new ones. There is a real risk that buyers will read the more established authors, which might have cost more previously, instead of taking the chance on an unknown new author whose books were previously much cheaper but still cost on normal kindle or paperback.
This catastrophic decline in income has resulted in some writers withdrawing from the Kindle Unlimited programme and instead selling their books under the much more generous ebook terms.
The extremely restrictive demand by Amazon for exclusivity on books on KU has further cut sales for authors as they have been unable to release their books on other platforms.
The top five big publishers are so far withholding most of their titles from Kindle Unlimited and therefore the choice on KU is rather limited for the reader as the top selling authors (which many people want to read) are not represented.
Subscription books are still a force to be reckoned with as other platforms, such as scribd* or oyster, do exist and their terms are far more generous towards the writer and do not demand exclusivity.
Finally let us not forget that faithful ‘old’ paperback and hardback books. Will their new found stability following the introduction of ebooks flounder under the onslaught of subscription ebooks? Will this become the next substantial obstacle for the publishers of hardcopy books?
Will KU see a fall in their subscription as writers flee from their terms and conditions?
Will readers demand a better and bigger selection of books for their monthly fee?
Will Amazon cave in to writers’ demands for similar contract terms as other subscription services and thereby tempt in the bigger-hitting authors to join them?
Do you have any experience of Kindle Unlimited? Either as a writer or as a reader? I would love to hear your comments and share your experiences. Only by doing so can we empower ourselves to make the best decisions as writers and readers.
“I find television very educating. Every time somebody turns on the set, I go into the other room and read a book.”
6 thoughts on “Netflix for Books”
Books and ebooks are not mutually exclusive. I find ebooks are great for holidays, and for novels. However, anything that I want to study, especially if it has maps or charts in it, has to be the real thing. It will be interesting to see how things are in a few years, when the range of ereaders has settled down I suspect one or two will fall by the wayside.
Kindles are best for reading normal novels. For detailed studies and charts etc they are nigh on useless as point out. Yes, a lot changes in a couple of years; it’s a matter of hanging in there with the latest developments.
Thank you for educating me Annika. I didn’t know of KU and appreciate all
your fascinating information and the questions you pose are very poignant.
I have a Kindle paperwhite which is kind on your eyes and easy to pack
many books in one when you travel.
Still, I do love real books – paperback or hardback and have books in most
rooms in our home. My very favourites are by the bedside.
Mirja, I too have one of the first Kindles and find it brilliant for reading books and like you say, to take on travels. However books will always have special place in my heart and I think most people find they co-exist quite happily with both, neither format being mutually exclusive.
What are your favourite books by the bedside, I find myself wondering?
Interesting. A complete shift of emphasis for this one but causing a serious pause for thought. Perhaps this will have the opposite effect though and drive people back to the actual printed word. Stranger things have happened.
Me -I don’t have a Kindle. I’m still old fashioned enough to prefer the feel and smell of real paper and print.
Keep up the good work!
I am beginning to realise this blog will travel in many directions, alongside my novel writing journey – hope I keep everyone with me! I think it is highly unlikely to drive people away from ebooks to hardcopy, rather might force a change within Amazon or movement to another ebook format. Who knows? As for being old-fashioned and preferring real paper and print – I was in those ranks once too…