Big Idea: These Books Are Made for Reading (Not Just Selling)
The business model we have implemented at Total Boox is "purchase as you read." This is not a pay-per-view model, but rather a "gradual purchasing" model, where every piece you read and pay for becomes your own, and you can read it again and again indefinitely. We are not tossing "purchasing" out the window, but splitting it into small, personal increments, and applying it gradually, so that what-you-read-is-what-you-own. You read 5% of the book, you pay 5% of the price, and you own this 5%.
This approach enables absolute reader freedom: Every reader can access any book any time, bypassing the complex decision making of which books to buy. The path to the reader becomes much flatter when publishers no longer need to convince readers to purchase a book-they just need to get readers' attention. Plus, people are willing to pay higher prices for books they actually read versus books they may not read.
I am a dreamer, I know, but I'm also a pragmatist. I see the shift described here as imminent, and I firmly believe that five years from now the question, "Should I buy this book?" will be a weird one.
Yoav Loach is the founder and CEO of Total Boox.