On Friday, Amazon introduced a new Netflix-like subscription service for e-books. Subscribers to the service, called Kindle Unlimited, pay $9.99 a month to read an unlimited number of the approximately 600,000 Kindle books. They also receive a free three-month membership to Audible, through which they can listen to an unlimited number of audiobooks during the three-month period. Amazon’s Whispersync technology allows readers to alternate between Kindle books and audiobooks seamlessly. The books are also accessible on the Kindle apps for iPhone, iPad, Android tablets and phones, Windows Phone, BlackBerry, PC, Mac, and Windows 8.
“With Kindle Unlimited, you won’t have to think twice before you try a new author or genre—you can just start reading and listening,” said Russ Grandinetti, Senior Vice President of Kindle. “In addition to offering over 600,000 eBooks, Kindle Unlimited is also by far the most cost-effective way to enjoy audiobooks and eBooks together. With thousands of Whispersync for Voice-enabled audiobooks to choose from, you can easily switch between reading and listening to a book, allowing the story to continue even when your eyes are busy.”
Amazon is set to reports its second-quarter earnings on Thursday. Analyst surveyed by Thomson Reuters expect the company to lose 15 cents a share on $19.34 billion in revenue