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Level 0 175 posts since
Aug 16, 2011
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Dec 8, 2011 1:40 AM

What do you think of Kindle's new lending program

I am currious to hear about what everyone thinks about the new lending thing with Kindle. I have been doing some research tonight and it looks pretty cool with some great potential, and I wanted to hear other opinions on it.

 

Melody Anne

Level 5 2,821 posts since
May 5, 2009
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1. Dec 8, 2011 6:53 AM in response to: melodyanne
Re: What do you think of Kindle's new lending program

I have just enrolled my books into this. I sell a lot of Kindle books (primarily UK) but have only ever sold a couple on smashwords and B&N. A few months ago I put my smashwords edition on hold and have now made my Lulu pdf versions private as Kindle want exclusivity for three months.

 

To be honest I can't understand why (with the exception of the iPad) why anyone would rather get a different ereader i.e. Kobo instead of a Kindle. Kindle is the buzz word like ipod, iphone, ipad so all the 'cool kids' are getting them. Lets hope readers now continue to buy my books as well as get them on loan.

 

http://www.alexwshaw.com

Level 2 134 posts since
Mar 2, 2011
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2. Dec 8, 2011 9:58 AM in response to: melodyanne
Re: What do you think of Kindle's new lending program

Looks good to me. I'm up for any new format that broadens my readership base.The possibility of making some money in the program is icing on the cake. 

Level 2 222 posts since
Apr 20, 2011
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4. Dec 8, 2011 2:36 PM in response to: melodyanne
Re: What do you think of Kindle's new lending program

I enrolled today.  I'll let you know in a few weeks whether it worked, or not.  The way I see it (and someone else on this thread said something similar) is that this first book is an introduction, of sorts, to get me started in this endeavor (writing).  I'd like to sell enough copies to pay some expenses directly related to publishing, but I'm really viewing the whole thing as a hobby.  If I have to spend a few bucks, or 'forego' a few bucks, I'll consider it an investment that might reap some dividends when I publish my next book.  It's cheaper than golf and where I live there are only a handful of days good for golf anyway.

 

badhouse

www.badhousebooks.com

Level 1 90 posts since
Sep 19, 2009
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5. Dec 8, 2011 3:47 PM in response to: melodyanne
Re: What do you think of Kindle's new lending program

Melodyanne : enclosing a message I just receive regarding kindle from my e-mail. I believe that kindle it the future. If the link don't post you know my e-mail . It won't let me do it. I don't think it's a scam! Sparky1

Level 5 13,397 posts since
Mar 8, 2009
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6. Dec 8, 2011 5:25 PM in response to: sparky1
Re: What do you think of Kindle's new lending program

Probably an attempt to edge out Smashwords and google.

 

Seal

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http://www.stevenwjohnson.com

Level 2 253 posts since
Nov 28, 2008
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7. Dec 8, 2011 5:43 PM in response to: sparky1
Re: What do you think of Kindle's new lending program

Mark Coker posted an analysis of it over at the Smashwords blog.  You can read it  here. Gotta wonder - if Amazon's competition drys up, will the 70% royalty (or even the 35%) be far behind and go the way of the dodo bird?

 

Don't actually quite get the math of the program.  There's a pool of money - to be shared??? The more authors/titles/borrows the smaller the share per book?  It seems very variable.  Also, you can always put your book on Amazon for free for promotional purposes on your own for a while without joining.

 

Guess we'll see how things pan out in the long run.

 

I came up with the following math for the $500,000 pot.  Amazon states the pot will be at least $6million in 2012 (still comes out to a $500,000 pot per month???).

 

Total borrows of your book for the month Total Borrows across all authors / all titles for the monthRoyalty Earned from $500,000 pot
10                 100,00050
10                 500,00010
10              1,000,0005
10              5,000,0001
10           10,000,0001
10           20,000,0000
100                 100,000500
100                 500,000100
100              1,000,00050
100              5,000,00010
100           10,000,0005
100           20,000,0003
500                 100,0002,500
500                 500,000500
500              1,000,000250
500              5,000,00050
500           10,000,00025
500           20,000,00013
1500                 100,0007,500
1500                 500,0001,500
1500              1,000,000750
1500              5,000,000150
1500           10,000,00075
1500           20,000,00038

Level 5 2,821 posts since
May 5, 2009
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10. Dec 9, 2011 2:34 AM in response to: melodyanne
Re: What do you think of Kindle's new lending program

I've just had my first book 'borrowed'...

Level 0 26 posts since
Aug 17, 2010
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11. Dec 9, 2011 6:41 AM in response to: Hetman
Re: What do you think of Kindle's new lending program

It looks to me as if the primary benefit would go to Amazon and not to the typical author.  Generally speaking, I don't like

the idea of giving away free access to one of my books.  Reduced pricing temporarily?  That'd sound better.  I don't see any great

problem with exclusivity with Amazon for a limited period of time.  Amazon's Kindle already held two-thirds of the e-book business over the course

of the past year or so.  But the business is going to change as rapidly as it grows over the course of the next year or two.  A tremendous number of

I-Pads are going to be bought and many people will read their e-version on that product.  The lending program gives Amazon one more good

hook, drawing customers into the habit of tying into the overall Kindle library.

 

But gaining exposure by giving away free books has never appealed to me.  Has to be a better way from the author's

perspective.  In "Hetman's" case, he sells one heckuva lot of e-books (Number one in sales in the U.K and number two in the U.S., as I understand.

 

That's not typical though.

 

Anyhow, I'm convinced that Amazon will continue to grow its market share one way or another in terms of e-book sales.  And this recent lending program is certainly interesting.  Will probably benefit Amazon a great deal.  The biggest challenge to them from a marketing standpoint is how to position the Kindle brand as a mark associated with good, easy access to e-versions of books.  They need to be careful not to allow the public only to think of "Kindle" as a particular piece of hardware likely to become outdated very quickly.

Level 5 13,397 posts since
Mar 8, 2009
Currently Being Moderated
12. Dec 9, 2011 7:35 AM in response to: Hetman
Re: What do you think of Kindle's new lending program

Okay, Alex. How do we know a book has been borrowed? Email? Dashboard? A little birdie waking you up in the morning pecking at your ear? Enquiring Minds Want To Know... Sorry, you may not be familiar with the tag line for the National Enquirer OUR version of yellow sheet journalism without Page 6.

 

Seal

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http://www.stevenwjohnson.com

Level 5 2,821 posts since
May 5, 2009
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13. Dec 9, 2011 9:29 AM in response to: Seal
Re: What do you think of Kindle's new lending program

In your KDP account on the 'month to date unit sales' there is a column which says 'units borrowed'.  However I was also accosted by Seagulls earlier, perhaps they were also trying to tell me?

Level 2 148 posts since
Mar 12, 2009
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14. Dec 9, 2011 10:40 AM in response to: Hetman
Re: What do you think of Kindle's new lending program

Hetman:

 

Where can you look to find out if your book has been borrowed, how many times and how much money you might be entitled to.

 

Jerry Gallagher

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