From Book Business Magazine:
“For example, if you'll read 5% of the book (from any part of the book), you'll be charged 5% of the price. Moreover, you'll own that 5%. So it is not merely a pay-as-you-read model, but an own-as-you-read one. You gradually own a larger portion of the book, and if you read the whole book you have paid the full price and you own it as if you purchased it upfront.”
For readers, this means if they start a book and don’t like it after one chapter, it’s only cost them maybe 20 cents. They can also download a ton of books at one time and not pay anything until they begin reading.
But think of that in reverse for an author. What if 1000 people “download” a $2.99 book, but only 100 read it? For a self-published author, that’s the difference between $2093.00 if downloaded from other retailers and $209.00 from Total Boox. (At 70% to the author.) Technically, people won't download from Total Boox until they begin reading, but if they were accessing the book through Amazon, they would have to download to begin reading.
I will be curious to see how well Total Boox can attract both readers and authors.
What do you think of this new business model?
And I haven't posted any photos of Spunky in a while.
These two demonstrate his patience!