The e-book concept of Legimi is smart and timely
Tom Dougherty, CEO – Stealing Share
8 January 2013
Legimi is promising but more competition is sure to come
My shelves overflow with books. Problem is, I’ve run out of room to store them all.
This practical need for space drove me to e-books. With an e-book reader, you can store thousands of books.
But now the Polish start-up, Legimi, has caught my attention.
“Pew research recently found that 21 percent of American had read an e-book and that e-readers were consuming an average of eight books more per year than those who stuck with conventional books.”
This company brands itself as the Spotify for e-books. According to techcrunch.com Legimi “aims [for] users [to] get access to a potentially infinite library of reading material, all accessible via the cloud. But more than that … whether it succeeds or not, [it] epitomizes the collision of old media business models with new technology and new consumer habits.”
That collision comes down to this: For about $10 a month, readers have unlimited access to an inexhaustible collection of books, which can be stored on a tablet. This sounds perfect. The monthly price tag is less than I currently spend on e-books, then again, I’m not your typical e-book reader. Will others buy into Legimi’s plan?
Here’s Legimi’s angle: It banks on free excerpts for profit. With this system, users can read all the free book samples they like, typically about 10 percent of a book. Legimi pays publishers the wholesale price only when a reader goes beyond the free excerpt. Most readers don’t.
‘We have statistically calculated the average consumption for tablet users and smartphone users, which is lower than one book per month,’” explained Legimi CEO Mikolaj Malaczynski. “If you ask about the average consumption of one book per month, I am not sure if it’s a universal figure…we will need to test it market by market, but we have an algorithm to verify it.”
The time has come for such a smart approach to e-books. Pew research recently found that 21 percent of American had read an e-book and that e-readers were consuming an average of eight books more per year than those who stuck with conventional books.
While a gamble, I believe that Legimi has promise. If its instincts are correct and the system works, it will indeed become the Spotify of the e-book world.
UCLA basketball thieves Tom Dougherty, CEO - Stealing Share 16 November 2017 UCLA basketball brand as it stands now The UCLA basketball brand suffers a major wound. It has been many years since NCAA basketball fans talked about the BRAND of UCLA basketball. The heyday...
Daniel Lanois Tom Dougherty, CEO - Stealing Share 14 November 2017 Daniel Lanois, best record producer you've never heard of When listening to music, you often keep listening to your latest obsession. My latest? Bob Dylan’s genius producer, Daniel Lanois. So much so...
Airline seating Tom Dougherty, CEO - Stealing Share 13 November 2017 Airline seating tightening with no recourse Airline seating is worsening and there’s nothing you can do about it. Yes, the airlines have us in a headlock and we’re all basically powerless to do...