Amazon prematurely unveiled Kindle Unlimited yesterday morning. This is a new subscription service that costs $9.99 and will allow you to read as many books as you want on a monthly basis.
Kindle Unlimited will launch with 600,000 eBook and audiobook titles. Each title will be available to read on multiple devices, such as Android and iOS. A free 30 day trial will also be available when the service launches later this year.
Major publishers such as HarperCollins, Hachette, Macmillan, Penguin Random House, Simon & Schuster will not be contributing content with Kindle Unlimiteds launch. Amazon CEO Jeff Bezos did meet with CBS CEO Leslie Moonves earlier in the week to talk about eBooks, maybe contributing backlist and midlist titles had something to do with it.
Smaller publishers will play a major role in Unlimited with Algonquin, Bloomsbury, Houghton Mifflin Harcourt, Open Road, Scholastic and Workman. Amazon intends on paying them a wholesale rate for each title opened and read. This direct agreement is also being made to all of the Harry Potter Books via Pottermore and also the Hunger Games Trilogy
The bulk of the 600,000 titles that are available for Unlimited will be contributing by self-published authors who enrolled in Kindle Direct Publishing Select. Writers who participate under this program will automatically be opted it and paid out whenever someone reads 10% of the book or more. The money will be paid to the authors through the one or two million dollars that is added to the KDP Select pool per month.
Existing eBook subscription sites stand to gain in the short-term as most of them will be referenced in Unlimited. Scribd, Oyster and others will be mentioned in the same sentence and they all have major publisher support. Amazon is mainly launching with smaller presses, but most of the big five all support the smaller companies with their backlist and midlist titles.
Today on the show, Michael Kozlowski and Mercy Pilkington break down all of the news from yesterday. You will get a sense on concerns indie authors have on payments and royalties. Will KDP Select be a compelling value proposition for authors, outside of the Kindle Lending Library? Finally, will Kindle offer yet another cool feature that will be the deciding factor on your next e-reader purchase?