The new digital market is opening up opportunities for different models. This doesn’t mean that the old models are becoming obsolete but, in fact, that readers now have another way to access their favourite books.
Let us discuss subscription models
In relation to the music industry, that has endured the same transitional process, we have witnessed the birth of platforms such as Spotify or Deezer, where the audience can buy unlimited access to music for a fixed monthly fee. This model, that has been embraced by musics fans, has recently been adopted by the book market also.
One of the pioneers was a Spanish company, 24 symbols, who launched a similar subscription proposal forbooks two years ago. They started with 4 workers and now their team consists of an 18 person-strong workforce. Oyster, the American version, was launched at the beginning of this year and this summer another newbie surfaced on the Spanish market; Nubico.
However, public response remains relatively weak and it’s difficult to evaluate if this alternative is really taking hold. Yesterday another, and perhaps the strongest contender, Scribd announced that 6 weeks into their ebook subscription service, things are going well though no figures have been given.
What we do know is that it is becoming increasingly important for the digital book market to continually reassess and reconsider its approach and in doing so, reconstruct its model.