On the newest episode of the Open Book podcast, Open Road ceo David Steinberger talks to Kobo ceo Michael Tamblyn about not fighting with their competitors, changing consumer demographics, and internal debates about AI. Tamblyn explained that Amazon is the predominant seller of ebooks only in the US and UK, and other countries buy ebooks through local bookselling chains. Once Kobo was established in Canada, Tamblyn recognized that competing with Amazon, Google, Apple, and Barnes & Noble for market share in the US would be like “a knife fight in a dark basement.” Instead, Kobo expanded into Europe and Asia, […]
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KDP Limits Authors To Two New Titles A Week
As of September 21, Kindle Direct Publishing has changed its guidelines, now limiting the number of new eBook, paperback, and hardcover titles authors can submit to two per week. Previously, authors could submit up to 10. They write, “We are updating the title creation limits on KDP to help maintain a positive publishing experience for all authors.” The limit resets on Sunday at 12:00 AM UTC. The company adds in an FAQ that the new rule will not effect existing titles.
Libro.fm to Launch Ebooks Alongside Audiobooks
Libro.fm announced that it will add ebooks to its platform “soon,” in addition to audiobooks. The addition will allow independent bookstores to sell ebooks through the app. Features of the new initiative include: flexible credits that can be used on either ebooks or audiobooks, bookseller ebook ARC access, member benefits, and a syncing feature which allows readers who purchase both the audiobook and ebook to “toggle between the two versions or follow the text while they listen.” “Since co-founding Libro, I’ve always imagined us offering more than audiobooks, and ebooks are a natural next step. We’ve built an audiobook platform […]
Small Digital Delights
Last November, Kobo launched a $30 remote control for their ereader that “quickly sold out and remained out of stock for several months.” The Verge offers appreciation for the tiny innovation: “I’m not ashamed to admit the Kobo Remote is the best gadget I’ve bought this year.” Spanish author Ausiàs Tsel “spent four months trying to answer a simple question: Has this book been translated into my language? Turns out no one tracks this. Not ISBN registries. Not Amazon. Not Google. Not libraries.” As a result, he built Zenòdot, a “multilingual platform for discovering a book’s translations worldwide” by “cross[ing] […]
Waterstones Secures Increased Liquidity
UK bookseller Waterstones has secured a new financing facility of £125 million “to support its future growth.” The package comprises a £75 million term loan and a £50 million revolving credit facility. The company’s cfo Karen Ashworth said: “Waterstones would like to thank Barclays and HSBC for their continued partnership in increasing the syndicated facility that supports the financing needs of the business.” When the bookseller reported its most recent fiscal year results in April, they indicated they were in the process of arranging a new £50 million term loan and £50 million credit facility, so the final arrangements are […]
Scribd Acquires Fable
Scribd’s Everand has acquired social reading app Fable, for undisclosed terms. Everand and Fable will continue as separate services, though “Fable will benefit from Everand’s resources and the operational stability that comes from being part of Scribd, a privately-held company with over 18 years experience, to further enhance its community-first features as both teams explore thoughtful opportunities to evolve the reading experience together.” Fable founder and ceo Padmasree Warrior will transition to an advisory role. Fable had raised $27.25 million in funding.