Scribd reading service has surpassed 1 million subscribers

Reading subscription site Scribd announced today that more than
1 million people have signed up for the service, allowing them
to access its vast content library of books, audiobooks,
magazines, newspapers, and graphic novels. The company claims
to have “the world’s largest library of digital content,” and
it has grown paid subscriptions by over 40 percent since last
year.

Originally founded in 2007 as a way to share documents, Scribd
later shifted its focus to being a reading platform,
introducing a subscription for users to access its library of
ebooks, which it later expanded to include
audiobooks
and
graphic novels
. The
company throttled the plan in 2016
(users could read three
ebooks and an audiobook each month), but it ended up going back
and reintroducing the unlimited plan last year. Subscribers pay
$8.99 each month, and they can draw from the company’s entire
library, although Scribd said that people who were borrowing
too much would find themselves limited.

As of a year ago, the site boasted more than 700,000
subscribers, and the company says that reintroducing the
unlimited plan has worked. It grew its subscriber numbers by 40
percent in the last year, and Scribd says that it’s seen a 100
percent increase in the number of people listening to
audiobooks.

The growth in subscribers is good news for Scribd, which is
competing with Amazon’s Kindle Unlimited service. Its users pay
$9.99 a month to consume unlimited ebooks, audiobooks, and
magazines from its own massive library.

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