Scribd to Launch Netflix-Style Book Service

The company is looking to partner up with 5 big publishers

   

The self-proclaimed world’s largest digital library Scribd is working on creating a Netflix for books.

Los Angeles Times reports that Scribd is attempting to create an online subscription service where readers can enjoy books on their tablets, smartphones and computers. The company has already partnered up with News Corp’s (NWS) HarperCollins and it is currently negotiating with Hachette, Macmillan, Penguin Random House and Simon & Schuster to distribute their books digitally.

The subscription would offer thousands of books published before July 2012 and users would pay $8.99 a month for the service. Scribd’s new service will also offer books from smaller publishers.

Scribd currently offers a service that allows its users to search all types of documents and the company has about 80 million subscribers.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/scribd-to-launch-netflix-style-book-service/.

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