Amazon creates 5,000 title Kindle owners' lending library for Prime customers

Amazon Prime services took a major leap forward today. In addition to free access to over 13,000 streaming TV & movie titles and free 2 day shipping, Amazon Prime subscribers who are Kindle owners now also have free access to Amazon's new 5,000 title lending library. This feels like the start of something big. 5,000 today, 50,000 next year? There are no late fees, it's like Netflix for books.

The books can only be read on a Kindle device, as opposed to being read on the Kindle app on a phone or computer. The other restriction is that Prime members can only borrow one book each month. If more books are added might we see tiered pricing for more enthusiastic readers?

Kindles are now so affordable that I can really see this service becoming successful. It works for Amazon because it will bring in predictable cashflow since Prime has an annual cost ($79), and it will work for many consumers because one book a month is probably the norm for many of us. Even if you're not a regular reader, this additional service might just be the one that helps to convince us to buy a Prime membership.