I'm also wondering what a splash page ad would look like if you have no color and no animation.
We've all seen sites with Google Text Ads, they're blank mental space to me. My mind doesn't even register the words (at least not consciously). The "money marker" ads aren't the ads that make you click and buy (who does that these days??), they're the ads that register a brand in your mind.
For example, I saw "Shana Logic" ads on various sites for YEARS before I eventually visited their site and bought an item. It wasn't that last ad that got me, it was the brand building that the pictures accumulated in my mind over time. You CAN get pictures on eInk, of course, but without color they lose a lot of punch.
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Then too, I'm thinking about the implementation. I don't know how the Kindle works exactly, but my Moon+ reader app...... when I open a book for the first time, it brings up an in-app TOC where I have to decide where to start reading. Do I want to start at the preface or at Chapter 1? That sort of thing.
What's going to stop people from pulling up the TOC on their Kindle and popping right over the ads entirely? Are you going to have to sit through a 30 second ad screen every time you open an (ad-supported) book? It seems like that's the only way to implement it.
What about people who only open and read the book once? That doesn't seem like enough ad space for a whole $1 per eyeballs. It would be more feasible, I think, if the unskippable ad-splash replayed every 30 minutes of reading or something, like a commercial. Or between chapters. But it would HAVE to be unskippable, or people would click right past it.
I just don't see people being willing to put up with that in books. TV commercials are acceptable because - hey, bathroom break. Reading commercials? I just don't see it.
But that's me.