Kindle Owners’ Lending Library Hits 300,000 Titles
Amazon has release their quarterly statement today, and buried in among the generally good financial news were a few dribblets of info about the Kindle.
The Kindle Owners’ Lending Library, a free service that enables Amazon Prime members to borrow up to one ebook each month, has now topped 300,000 titles. Amazon also reports that a significant number of titles are exclusively available in the Kindle Store.
The exclusive ebooks are supplied by authors that have chosen to sign up for KDP Select. In exchange for granting Amazon an exclusive, the authors get a share of the a pool of fund that Amazon pays out each time a book is loaned to a reader. Amazon has a million dollars set aside to pay for April.
KDP Select paid out $1 million in March 2013, with $1.94 going to an author each time an ebook were borrowed. That puts the loans at just over 500,000 for the month, only a slight increase over the 437,000 loans made in February 2012.
I have long been an opponent of authors giving Amazon an exclusive, but it is beginning to look like I am in a distinct minority.