Subscription service Oyster opens e-book store

AP News
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Posted: Apr 08, 2015 8:02 AM

NEW YORK (AP) — A leading e-book subscription service is now allowing customers to purchase individual books.

Calling the decision a "natural extension," Oyster announced Wednesday that it has launched an e-book store to operate alongside its offerings for monthly subscribers. While some major publishers have resisted offering books for subscription, fearing they might lose sales, all of the so-called "Big Five" companies will make books available for the new store. The Big Five are Hachette Book Group, HarperCollins, Macmillan, Penguin Random House and Simon & Schuster.

The publishing industry has been experimenting with streaming models similar to Netflix for movies and Spotify for music. Oyster and Scribd are among the companies charging under $10 a month for readers to choose from a catalog of hundreds of thousands of titles.