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As a kind of curiosity I can tell you about the eBook licensing system the libraries over here have, just so you can seen that there are different ways to deal with things.
Libraries buy a number of licenses. They are not tied to any specific books. The whole of the central database (that would be like Overdrive) is available to all library patrons. All titles, all available formats.
Publishers and authors are payed for every library checkout (and so is the central database keeper).
This of course means that the local library can use up its licenses before the quarter is over (happened around CHristmas last year at my local library). It also means that there are no a waiting lists.
I only tell this in this topic so shine a light at the fact that there can be different licensing "strategies", and things don't necessarily have to be "the way they've been" forever.
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