Oyster Books Take On Amazon.com, Inc. (NASDAQ:AMZN), Launch New Service

Amazon.com, Inc. (NASDAQ:AMZN) has been offering e-books to its readers for years without any hassle, but things don’t seem to continue in the same way now. As per the reports, a New York-based e-book subscription startup named Oyster Books has announced its new service in the same field.

Are expert analyst predicting a future consolidation of AMZN?

Insights On the Matter:

Oyster Books used to charge flat monthly fees in the past to allow all of its users to read e-books, but now it has now decided to make available e-books individually. All the interested readers can buy e-books directly from it by paying affordable fees. As per the reports, the price starts at 99 cents and gradually increases. The company has also made available a few e-books free of cost.

Even though Amazon has been enjoying a strong marketplace for years now, but things have suddenly changed. With more and more companies are entering this field, the competition is increasing swiftly.

Earlier, Oyster Books used to offer over 1 million e-books to read online and charge a flat monthly fee of $9.95. The stock included a lot of titles from some of the most renowned books of the world such as HarperCollins, Simon & Schuster and Macmillan. As the company has embarked its new journey, it has decided to introduce hundreds of thousands of more e-books from top publishers in the world that include names like Hachette and Penguin Random House. It promises to keep adding new titles as the time progresses.

By far, Amazon.com, Inc. (NASDAQ:AMZN) is the largest player in this field both in United States as well as in other countries. There are rumors that it holds more than 66% e-book market in U.S. and 95% e-book market in UK. The company has solid relations with numerous writers, smaller publishing house and distributors that solidify its global network. Oyster Books’ initiative is an alarming bell for the company to get ready to take on the future probable challenges.

Brown Terrel

Brown Terrel

Terrel is US Markets Daily's business news reporter. She joined US Markets Daily after five years as a print reporter.