Meet Oyster, the 'Netflix of books'

Subscription-based services expand to the world of letters

Oyster Books
(Image credit: Oyster Books)

This week, the New York–based startup Oyster launched what some are calling "the Netflix of books" — an iPhone app that gives readers unlimited access to 100,000 book titles for $9.95 a month.

Oyster is the latest entry in a growing trend toward subscription-based services like Netflix and Spotify, in which users pay a low monthly fee for unlimited access to a large library of media. The music and film industries for years have been freaking out that the format will disrupt their business models and do a number on their bottom lines.

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.