THE MODEL: A subscription service for users where they can listen to audiobooks and read ebooks as many as they want. An option to download a limited number of books is also available.
STARTUP: Storytel (Swedish startup)
WHAT I LIKE
Core Idea – A subscription based model for listening to audiobooks and reading ebooks.
Subscription Model – Users can access unlimited books for the monthly subscription charges.
Best Model for Chosen Category – Subscription can generate more revenue as compared to individual book sales. Also audiobooks and ebooks have to be bought once and can be accessed any number of times. This ensures better financials for the startup in the chosen category.
Competition – The startup competes with other similar services and also all vendors selling ebooks and audiobooks.