Amazon today unveiled a new lending library feature for Kindle and Kindle Fire users.
On Tuesday, Amazon took the wraps off a new lending library, which will allow Kindle and Kindle Fire users to borrow a single electronic book every month. The cost: Technically, nada. The catch: You've got to have a membership to Amazon Prime. Membership cost: $79 a year.
In a press statement, Amazon said the initiative, slated to include "thousands" of books, will be rolled out this week.
"Titles in the [lending library] come from a range of publishers under a variety of terms," Amazon reps wrote. "For the vast majority of titles, Amazon has reached agreement with publishers to include titles for a fixed fee. In some cases, Amazon is purchasing a title each time it is borrowed by a reader under standard wholesale terms as a no-risk trial to demonstrate to publishers the incremental growth and revenue opportunity that this new service presents."
In other words, Amazon is still figuring this thing out. But among the books initially available through the library are some blockbuster titles, including "Guns, Germs, and Steel," by Jared Diamond, and "Liars' Poker," by Michael Lewis. "We're excited about any program that helps readers discover our authors and their books," David Nussbaum, chief of of F+W Media, which is offering books through the library, said in a press statement.