Oyster, a leader in the Netflix-for-eBooks business, has responded to news that Amazon has entered the burgeoning new marketplace.
“We’re not surprised,” explained Eric Stromberg, CEO and Co-Founder at Oyster, in a statement. “They have pivoted from transactional to subscription-based in other media, and have had limited success. They really paved the way in ebooks, and it’s exciting to see them embrace the market we created as the future of books.”
Amazon’s new service, Kindle Unlimited, will compete directly with Oyster’s eBook subscription service. Both companies charge about $10 a month in subscription fees for unlimited access to their entire library. Oyster’s collection consists of more than 500,000 titles and Amazon’s boasts more than 600,000.