Market Overview

Amazon Launches Unlimited E-Book Subscriptions For $9.99 Per Month

Share: (NASDAQ: AMZN) launched a subscription service Friday offering unlimited reading from a 600,000-title catalog for $9.99 per month.

The service, which also provides unlimited access to more than 2,000 audiobooks, can be used with Kindle devices or with Amazon's free Kindle reading app for phones, tablets, PCs and Macs.

Amazon's new plan competes with the similar but far smaller Oyster and Scribd services.

The long-rumored service was inadvertently disclosed earlier this week in an announcement on Amazon's website that was quickly removed without comment Wednesday.

A few titles from the service include The Lord of the Rings trilogy, the Harry Potter series, The 7 Habits of Highly Effective People and reference titles including books from the For Dummies series and Lonely Planet travel guides.

Amazon accounts for one-third of book trade, and has been in a months-long pricing battle with SCA's Hachette Book Group. Recently it opened negotiations with CBS' (NYSE: CBS) Simon & Schuster unit.

In pre-market trading, Amazon changed hands at $355.11, up 0.75 percent.

Posted-In: News Events


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