Amazon Selling Books by the Page
Updated from 3:52 p.m. EST
Further shaking up the book world, Amazon.com (AMZN) and Random House announced separate plans to sell digital book access by the page.
The initiatives by Seattle-based Amazon and New York's Random House, which is owned by German media giant Bertelsmann, will create a system of selling books that's similar to how Apple Computer (AAPL) sells music through its iTunes site at apple.com/tunes.
Book publishers have been reluctant to embrace digital technology out of fear of being crippled by the illegal downloading that has hurt the music business, said Pat Longstaff, associate professor at Syracuse University, who does research on communications technology. She said the appeal of digital books may be limited at first."For scholars and people who are only interested in specific information, that is probably is a market in the near- to mid-term," she said. "For other people, it's going to be take a while longer. ... Downloading a chapter of a mystery novel doesn't cut it." Through a service called Amazon Pages, Amazon will allow people to "inexpensively" buy chapters from a book and read them online, the Seattle-based company said in a statement. Customers will get complete online access to the book through another service called Amazon Upgrade. Both services are an extension of Amazon's existing search within a book program. The company, which didn't specify prices, didn't return phone calls for comment. "Amazon Pages and Amazon Upgrade leverage Amazon's existing Search Inside the Book technology to give customers unusual flexibility in how they buy and read books," said CEO Jeff Bezos. "In collaboration with our publishing partners, we're working hard to make the world's books instantly accessible anytime and anywhere." Random House will also allow online viewing of its books on a pay-per-view basis. It will negotiate separate agreements with online book sellers, search engines and other Web sites, the company said in a statement.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV