eBooks are becoming big business. Back at the start of last year Amazon announced that it was selling more ebooks than printed paperback books in the US. In fact for every 100 printed paperback books they sold in 2011, they sold 115 digital eBooks, which is incredible when you remember that the eBook reader has only recently started to reach mass adoption.
One innovative company which seems likely to profit from this explosion in use is Only Indie, a new independent online eBook store which offers a range of digital titles in various genres with one great twist. Every book sold on the site starts off at $0.00 in price. But…and here’s the clever part…after 15 downloads, the price starts rising by 1 penny per purchase until it reaches the set retail price.
Genius. Not only that but the price dynamically changes according to sales, so if the book doesn’t sell for 24 hours, the price starts dropping again until a sale is made. This kind of thing is just amazing, and I’m really hoping it catches on. Authors are also paid a good percentage of the sale price, so there’s no middleman gouging going on either. All books are available in the three main formats, ePUB, Mobi (for Kindle) and PDF.
I’s a fabulous idea, love it.