The only real competitor to Kindle Unlimited continues to thrive in Amazon’s shadow. Scribd announced today that they now have one million subscribers paying for their limited ebook subscription service.
We’re excited to announce that Scribd has surpassed the one million subscriber milestone!
“This is an exciting milestone for Scribd; one million subscribers is a tipping point for any subscription company and proves we have a reading service that people want, need, and love,” said Trip Adler, co-founder and CEO. “Scribd has been at the forefront of the digital reading evolution over the last decade, driving incremental revenue to the publishing industry while making the written word more accessible than ever before. As we celebrate this milestone, we’re grateful to our partners for trusting us with their content and believing in our mission to change the way the world reads.”
Scribd is dedicated to building a subscription model that strikes the right balance between delivering great value for readers and publishing partners while achieving long-term sustainability. We launched our unlimited subscription last year and have been delighted by the response: we’ve grown our subscriptions over 40% (YOY), and more people are listening to audiobooks than ever before (a +100% increase in audio users over the course of 2018).
Scribd promotes its service as being “unlimited”, but that simply isn’t true. As numerous users have reported, Scribd has imposed hard monthly usage caps. While those caps are frustrating for users, it was a necessary step in maintaining a balance between customers and suppliers so that the company could remain profitable and continue to operate.