Kobo is launching an ebook subscription service modeled on Kindle Unlimited version 1.0; payout comes from a pool funded by subscription fees and is triggered when the reader hits 20%.
The digital reader blog has the news:
http://the-digital-reader.com/2017/0...ice-kobo-plus/
...And the Terms of Service on the publisher side:
http://the-digital-reader.com/2017/0...-funding-pool/
Lots of blanks (subscriber TOS for one) to be filled in but at last some news worth chewing on.