Thursday, December 8, 2011

Amazon Launches $6M Fund For Kindle Authors

Seattle-based Amazon.com said this morning that it is looking to help fund authors and publishers, who are publishing direct to the company's Kindle platform and its title lending program, the Kindle Owner's Lending Library. The firm said it has created a $6M, annual fund called KDP Select, which will distribute that $6M between authors or publishers who are willing to make their books exclusive to the Kindle Store for at least 90 days. Amazon said the fund will be based on the book's share of borrows in the Kindle Owner's Lending Library, and will be in addition to royalties received from the sale of those books. Amazon said that so far it has 129 titles enrolled in the program, from 31 authors.