From The Economist:
“BEWARE of the person of one book,” said Thomas Aquinas, a medieval friar and author. The risk of encountering such unscholarly types is rarer in modern times. Digital devices can hold dozens of e-books, so people can carry around a whole shelf of reading material with them. Now a new crop of e-book subscription companies is offering bibliophiles the chance to consume as many books as they like, from a huge range of titles, for a flat fee of around $10 a month.
It is a bit like having a whole lending library in your pocket—but with no need to return the books. In America the main providers of e-book subscriptions include Amazon, Oyster and Scribd.
. . . .
The subscription model has already taken off in music and television, with providers such as Spotify and Netflix. Consumers have shown an increasing preference for such all-you-can-eat bundles, as opposed to buying each item separately. That worries book publishers and authors, who still make most of their money from sales of single copies. So far they have approached subscription services cautiously, holding back their newest and most popular titles from them.
. . . .
The record companies tolerate music-streaming services like Spotify, which pay them only modest fees, because the alternative is a continued rise in music piracy—on which they earn nothing at all. However, piracy of e-books is not such a problem: it is perfectly feasible for publishers to keep back some titles from subscription services and make money by selling individual copies of them.
Link to the rest at The Economist and thanks to Joshua for the tip.