The New Yorker: “An App Called Libby and the Surprisingly Big Business of Library E-Books”
From The New Yorker:
To illustrate the economics of e-book lending, the N.Y.P.L. sent me its January, 2021, figures for “A Promised Land,” the memoir by Barack Obama that had been published a few months earlier by Penguin Random House. At that point, the library system had purchased three hundred and ten perpetual audiobook licenses at ninety-five dollars each, for a total of $29,450, and had bought six hundred and thirty-nine one- and two-year licenses for the e-book, for a total of $22,512. Taken together, these digital rights cost about as much as three thousand copies of the consumer e-book, which sells for about eighteen dollars per copy. As of August, 2021, the library has spent less than ten thousand dollars on two hundred and twenty-six copies of the hardcover edition, which has a list price of forty-five dollars but sells for $23.23 on Amazon. A few thousand people had checked out digital copies in the book’s first three months, and thousands more were on the waiting list. (Several librarians told me that they monitor hold requests, including for books that have not yet been released, to decide how many licenses to acquire.)
The high prices of e-book rights could become untenable for libraries in the long run, according to several librarians and advocates I spoke to—libraries, venders, and publishers will probably need to negotiate a new way forward. “It’s not a good system,” [Alan] Inouye, [senior public-policy director at the American Library Association] said. “There needs to be some kind of change in the law, to reinstate public rights that we have for analog materials.” Maria Bustillos, a founding editor of the publishing coöperative Brick House, argued recently in The Nation that libraries should pay just once for each copy of an e-book. “The point of a library is to preserve, and in order to preserve, a library must own,” Bustillos wrote. When I asked Potash about libraries and their growing digital budgets, he argued that “digital will always be better value,” but he acknowledged that, if current trends continue, “Yes, there is a challenge.”
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About Gary Price
Gary Price (email@example.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com. Gary is also the co-founder of infoDJ an innovation research consultancy supporting corporate product and business model teams with just-in-time fact and insight finding.