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I've been curious about this trend myself. I've seen the occasional ebook trailer floating around, but never viewed one until the trailer was released for the newest Wheel of Time book coming out this November. Having watched that one, I'm not sure I understand the point of releasing a visual ad for a text-based product. I'd rather read a blurb about the book, or sample some of it. I suppose it has the same appeal that a fancy cover does: pull you in with some exciting visuals and get you to look at the book more closely. It just doesn't have the same ease that glancing at a cover does... it's more of a time investment, even if it's only 1.5 minutes long.
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