Amazon Working on a Netflix for Books [REPORT]

Amazon is planning to launch a service that would offer customers access to a library of books for a fixed monthly fee, reports The Wall Street Journal, citing sources familiar with the matter.
Amazon is reportedly in talks with publishers about the service, but it’s unclear how far the project has progressed, as some publishers aren’t too happy with the idea.
The details about the project are scarce, but it appears that the library would primarily contain older works with restrictions on how many books a user can access each month. The service would also be available to subscribers of Amazon Prime, a membership program that gives users free shipping and access to movies and TV shows for $79 per year.
Amazon has been on a roll this year, having launched Amazon Prime in February and a subsidized version of Kindle in May. The retail giant reported a 51% jump in revenues for Q2 2011 and the fastest growth in a decade.
The company is also rumored to launch a 7-inch tablet, which might become a very serious competitor to Apple’s iPad, according to some analysts.

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