Amazon’s Kindle Unlimited is like the Netflix of e-books

A few days ago, it was reported that Amazon was planning on introducing an unlimited Kindle service. Basically it involves users subscribing to the Kindle Unlimited service at $9.99 a month and gain access to pretty much the entire Kindle library at Amazon. Sounds like a good deal, right? Well if you’re an avid reader and you think that you will be able to make your money worthwhile, you might be pleased to learn that Amazon has officially launched the Kindle Unlimited service. The information seems to the same as what we saw the other day, which was pretty much Amazon announcing it ahead of it. For those who are fans of audio books, if you were you subscribe to the Kindle Unlimited service, you will gain three months free access to the Audible membership, where you will be able to access even more titles. Amazon has also confirmed that the Kindle Unlimited service will apply across the board, meaning that it will work not just on the Kindle reader, but on your phone, tablet, and computer.

Now that Amazon has uncorked their Kindle Unlimited service I, like many indie authors, was curious. What does this mean for us withered scribes, scribbling away in our garrets and bobbing on the waves of Amazon’s massive literary marketplace? Will I get paid if I join Kindle Unlimited? How do I add my book to the mix? Will I become fabulously rich? Full disclosure: I’ve been mucking about with indie publishing for a year now with the Mytro Projectand, with enough digging, you will find one or more of my books on Amazon. With that said, let’s address our scrivenarial concerns. Will I get paid if I join Kindle Unlimited? I have asked Amazon for more specifics on how royalties work in Kindle Unlimited but what appears to be happening is that they are treating Kindle Unlimited books as part of their Kindle Direct Publishing Select Program. KDP Select is a part of Kindle Direct Publishing system that allows you to upload and publish books in a few minutes. I’ve written about it here. The KDP Select Program is a special service offered to indie writers who agree not to make their books available elsewhere. It’s a very mercenary concept on Amazon’s part but allows you to offer your book for free for a limited time and support pre-orders. But woe betide you if you upload your book elsewhere. The moment Amazon’s robots find your book on, say, Barnes & Noble, all that largesse is over. So how do you get paid? KU will supply limited royalties from something called the KDP Select Global Fund. Readers must read 10% of the book to be eligible for royalties that will change from month to month.