Amazon has announced Kindle Unlimited, a "Netflix for Books" program that lets consumers read all they want for $9.99 per month.
Some details from Amazon:
- The 600,000 titles in the program are all from KDP Select, which is the Amazon-exclusive program that gives authors the ability to schedule promotions. At this time, it appears that books available for sale at Barnes & Noble, Kobo, Apple, etc. will not be eligible for Kindle Unlimited.
- Payments for Kindle Unlimited won't be triggered until 10 percent of the book is read, as opposed to when a download happens. So if someone starts browsing your novel and loathes it, you're not going to get paid.
- It looks like the payment amounts will be similar to those under the Kindle Owners Lending Library, which allowed Amazon Prime members to read your book for free.