It’s been very interesting to watch the unveiling of Kindle Unlimited, Amazon’s new subscription-based e-book program. It’s not a new concept. In fact, entertainment and media industries have been heading this way for a long time. Netflix provides consumers with unlimited streaming of television and movies for a flat flee. Spotify provides the same for music. So why not books?
Kindle Unlimited isn’t even the first to offer the all-you-can-read buffet. Oyster and other similar companies have been around for some time; yet none have Amazon’s platform. Or its ability to stir up controversy.
Some of Kindle Unlimited’s critics have historically been Amazon’s staunchest supporters: self-published authors. They’ve claimed that they stand to be hurt the most from the program, in part because of the different royalty structure. Royalties will be allocated from a set fund divided across all borrowed units, which may mean lower royalty payments. Not only that, but self-published authors who choose to opt out of Kindle Unlimited so they can distribute to other vendors, such as Nook Press and Kobo, stand to drop in the Amazon bestseller rankings because Kindle Unlimited “sales” count towards those hourly standings. Pro Kindle Unlimited authors, on the other hand, argue that authors will benefit greatly from the discoverability that Kindle Unlimited and such rankings could provide. Unknown authors can potentially shoot up in rank, even if those “buying” their books never get around to reading them.
And what about on the consumer side? On the face of it, $9.99/month for an unlimited number of books seems like a great deal. But how many people subscribing to Kindle Unlimited actually read enough books every month to make it worth it? It’s one thing to binge-watch shows and movies on Netflix or binge-listen to music for hours on end on Spotify. But binge-reading is a whole different ballgame.
I’d like to hear what our readers think of Kindle Unlimited. Will you subscribe? If you’re an author, do you enroll?