Penguin Random House, publisher of thousands of new books each year, has recently decided to stop making e-book and audio versions of its titles available on unlimited-reading subscription services.
Such platforms, which provide subscribers with access to large catalogues of e-books and/or audiobooks in exchange for a fee, have seen mixed success during the acceleration, over the past decade, of the digital publishing industry. While Oyster, for example, closed in 2015, Scribd has held on, recently raising $58 million in equity financing to support plans for growth.
Not all publishers have been on board with the subscription business model—though some have recently experimented with embracing even Amazon’s version—but PRH has, until now, made many titles—it produces tens of thousands annually via its almost 275 imprints—available in some shape or form on several platforms.
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