PRH US changes library ebook lending terms
In North America, Penguin Random House (PRH) has announced a change in its library ebook lending model, beginning 1 October 2018, reports Publishers Weekly.
The change of model, from a ‘perpetual access’ model where libraries pay a higher price to access an ebook forever to ‘metered access’ where libraries pay less for a two-year hire period, is a result of librarian feedback, said PRH in a letter to its customers.
‘We have heard—loud and clear—that while libraries appreciate the concept of “perpetual access”, the reality is that circs for many titles drop off dramatically six to eight months after the initial release. This is true especially for fiction bestsellers,’ said PRH vice president Skip Dye in the letter.
‘Most librarians are telling us they would rather pay lower prices across our frontlists and backlists, in exchange for a copy that expires after a given time period. In response to this feedback, we are happy to tell you that we will be lowering our prices on our entire catalogue of adult and children’s fiction and nonfiction titles. Under our new terms, ebooks will expire after two years from original purchase date with the aligned pricing lowered for our ebooks,’ said Dye.
After 1 October previously purchased ‘perpetual access’ ebooks will remain library property, and academic libraries will be able to purchase under the old model but at a ‘significantly higher price’.
The change in terms will apply to all PRH US, PRH Canada, DK (formerly known as Dorling Kindersley) and DK Canada titles. The changes will not apply to ebooks distributed by PRH Publisher Services, according to the report.
Category: Library news International