I was subscribed to SCRIBD for about a year (It was part of the payment for putting my books in the program). I liked it okay. I read 4 or 5 books. From an author perspective: I've had 3 books in KU and All books in SCRIBD (and have all books in SCRIBD now). The 3 books in KU got about the same amount of reads as on SCRIBD during the time they were in KU. The difference is that SCRIBD pays better. I couldn't wait to get my books back to wide distribution. KU for indies means we are only read on Kindle so I lost sales at Kobo and Scribd (those are my two biggest retailers...oh and Google Play).
I think the programs will fail because it's not a good deal for authors any way they have tried to run it. The best performing authors get bonuses--and that is basically because Amazon knows they won't stay in if all they make is the 2 dollars or so that a book averages. But then, perhaps that will be enough to keep it going.
I also think with libraries getting more and more ebooks, the competition for a subscription type thing is tough and getting tougher.
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