Penguin Random House Changes Library Lending Model

[astrangerhere]

This is an interesting contrast to what Tor announced last month.

From the story in the American Libraries Magazine blog:

This week’s news from Penguin Random House (PRH) represents a new and major development in the library ebook market. Unlike the terrible shift in lending policy announced in July by Tor and Macmillan Publishers, PRH’s change is neutral or even a bit positive for US libraries, although the impact on any specific library will depend on its circumstances.

PRH has shifted from a perpetual licensing model (by which each copy can be loaned indefinitely) to a time-limited model. Starting in October, licenses for any PRH ebook titles that public, school, and special libraries acquire will expire after two years. The terms for academic libraries are unchanged. No embargos will be imposed—all library access to ebooks will remain concurrent with general market release.

PRH is reducing its fees for the US market so that the maximum price for an adult-oriented title will be lowered to $55 from $65. Titles for youth and children will cost $45 and $35 respectively.

This reduction will enable more libraries to lend PRH titles generally, especially those on the backlist. For many popular titles, libraries do not need to keep multiple copies more than two years, allowing for an additional cost savings. For some titles, the two-year term serves as an automatic way to weed copies of ebooks that are no longer wanted.

[ottdmk]

I can't see this as a positive at all. PRH reduces their cost by 15% but makes you renew the license every two years? Two years is *nothing*. So a library still has to pay over 300% the cost to a consumer for a license that expires. Sheesh.

[tubemonkey]

This is a rip-off, unless libraries never renew any of their titles. As soon as they renew one title, they've exceeded the perpetual model by $45. How is that a savings?

[Shad Plante]

This is a benefit only for really popular titles where a library would want lots of copies initially, but fewer in perpetuity.

[tubemonkey]

Originally Posted by Shad Plante

This is a benefit only for really popular titles where a library would want lots of copies initially, but fewer in perpetuity.

And that would be outweighed by all of the titles they wish to always have on hand.

Expect libraries to carry fewer PRH titles and fewer copies of those titles.

I can see one type of library that would benefit from this new model. A library that only carries best seller list titles and never renews them

[DuckieTigger]

Since electronic doesn't take up shelf space, it makes sense to limit the selection. With pbooks the library cannot buy more than there is shelves - to make room they need to get rid of older books. 15% saving is a bit low unless both methods stay viable. E.g. leave it perpetual, but allow extra temporary copies to be bought at a discount (e.g. 40% off for each additional 2 year copy). Allow perpetual copies to be returned for a refund (e.g. get 25% back when returning for a different perpetual book).

[rcentros]

I had a book on hold (was #2 on two copies) and then recently checked to see if that had changed. It showed #1 of 0 copies. When I clicked the "i" for information link they informed me that the license had expired but may be renewed. Today I'm #1 of 1 copy, so apparently they renewed one copy where they had two. But this was S&S, not PBH.

[Shad Plante]

Originally Posted by tubemonkey

And that would be outweighed by all of the titles they wish to always have on hand.

Expect libraries to carry fewer PRH titles and fewer copies of those titles.

I can see one type of library that would benefit from this new model. A library that only carries best seller list titles and never renews them

Overall, this change stinks. If it was added in addition to the perpetual model, it would be a slight improvement.

[AnemicOak]

Originally Posted by ottdmk

Two years is *nothing*.

Especially when you consider all of the people who seem to check the book out for 21 days (the max & default setting at most libraries) and not return it early even if they finish it (at least it seems that way sometimes). It's not like a single copy of a title is being checked out 500 times a year or something, the number of possible checkouts is already limited.

At least with HarperCollins (26 checkout limit) & Simon & Schuster's (1 year) limits libraries are only paying about retail (generally not more than the Hardcover cost, often less) for the books.

[stumped]

Originally Posted by AnemicOak

Especially when you consider all of the people who seem to check the book out for 21 days (the max & default setting at most libraries) and not return it early even if they finish it (at least it seems that way sometimes).

returning books early is a faff - though the libby app has improved things
I have often , in the past, tried to return a book after reaching the last page only to get a message saying - in effect- you can't return it from this device ( you need to go return it using the device that checked it out )
( & I think that returning audiobooks early is also problematic)

[AnemicOak]

Originally Posted by stumped

returning books early is a faff - though the libby app has improved things
I have often , in the past, tried to return a book after reaching the last page only to get a message saying - in effect- you can't return it from this device ( you need to go return it using the device that checked it out )
( & I think that returning audiobooks early is also problematic)

It used to be more of a pain, but you can return them right on the website now as well as in the OD app (except OD for Mac) and with ADE (except DRM free ePub's).

[stumped]

what I do now is checkout always with the libby app - NOT with the overdrive app, but logged in with my overdrive credentials, not with my library card; then an early return with libby on a different tablet works OK.[also FYI I tested and found that once I have completed checkout on tablet with libby, I am allowed to download a copy via ADE on PC also, but it has to be libby 1st, PC 2nd. the other way around is still problematic

so If I am at PC and get an " a hold has been auto checked out for you" email from overdrive, I wait until I am using the tablet to get it. It seems to be the case that its where you download from not where you checkout that matters, because most of my reading arrives via auto-checked out holds.

it took a far bit of trial and error to establish a process that works as above and that also syncs between libby installs

i rarely borrow audiobooks so I am not sure how easy/hard it is to early return those nowadays

[leebase]

2 years is an eternity in terms of the financial life cycle of a book. You might buy 50 copies of a popular title on release and have a waiting list for a year. After 2 years, it’s old news and one copy would be sufficient. Maybe the occasional book maintains its popularity after two years....but far more become forgotten.

[ottdmk]

The problem is, under this model, it costs you the same every two years to keep the book. With physical books a) they're cheaper to start with and b) it costs you nothing to hold onto a few copies.

One of the things I love to do with my library is to start reading a series I've heard about from the start. With this licensing model it becomes more and more likely that I won't be able to do that with any Penguin Random House titles, because they'll jettison the backlist to save money.

[Fbone]

Originally Posted by ottdmk

The problem is, under this model, it costs you the same every two years to keep the book. With physical books a) they're cheaper to start with and b) it costs you nothing to hold onto a few copies.

Physical book's cost is in space often in short supply at libraries.