Digital Book World broke the story today that new eBook subscription service, Oyster, has received $3 million in funding to become the Spotify for eBooks. With a monthly subscription to Oyster, you could read as many books as you wish from their catalog. There are more details here on this exciting announcement!
Of course there are many questions still to be answered like how will publishers and authors be compensated from this type of subscription model. But with co-founders from many tech industry heavyweights like Google and Apple, I suspect they will figure it all out.
I especially like this line from the Digital Book World story where they compare Oyster to the “grandaddy” of eBook subscription services, the Kindle Owners’ Lending Library: “Unlike KOLL, Oyster would be all you could eat.” And eBook readers have proven that they can be very hungry indeed.