What's Happening?
Scribd's digital reading platform, Everand, has introduced a new 'Deluxe' subscription tier priced at $28.99 per month. This tier offers subscribers access to five premium books and audiobooks monthly, expanding on the existing Standard and Plus plans. The Deluxe plan responds to reader demand, particularly among fans of romantasy and thriller genres. Everand's catalog includes 1.5 million premium titles and 20,000 free books. The platform's growth in the U.S., Mexico, and Latin America is partly driven by its acquisition of the book club platform Fable, which boasts three million users across 100,000 book clubs.
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Why It's Important?
The introduction of the Deluxe subscription tier by Everand reflects a strategic move to cater to avid readers seeking more access to high-demand titles. This expansion could enhance user retention and attract new subscribers, bolstering Scribd's competitive position in the digital reading market. By offering a wider selection of premium content, Everand can capitalize on the growing trend of digital book consumption, particularly in genres with dedicated fan bases. This move also highlights the importance of adapting subscription models to meet consumer preferences, which is crucial for sustaining growth in the digital content industry.
