“e-book reads” were now “being borrowed for free” from libraries," a trend he attributed to a mix of factors, including the lack of "friction" in e-lending compared to physical book lending, the "active marketing by various parties to turn purchasers into borrowers," and unnamed apps "supporting e-book lending regardless of residence, including borrowing from libraries in different states and countries." In the memo, Sargent asserted that 45% of Macmillan’s U.S.
But they also ensure that the mission of libraries is supported." “Our new terms are designed to protect the value of your books during their first format publication.
“It seems that given a choice between a purchase of an e-book for $12.99 or a frictionless lend for free, the American e-book reader is starting to lean heavily toward free,” Sargent wrote. In a July 25 memo (addressed to authors, illustrators, and agents), Sargent not only delivered the news of Macmillan's library e-book changes, he basically called out libraries for depressing author payments. Macmillan is now the fourth Big Five publisher to change its terms for digital content in libraries in recent months-but its changes, and the views expressed by Macmillan CEO John Sargent, are by far the most unique and contentious of the group. In what counts as a measure of good news for libraries, however, no changes were announced for Macmillan digital audiobooks. A Macmillan spokesperson confirmed to PW that the single perpetual access copy will be available only for new release titles in the first eight weeks after publication-the option to buy a single perpetual access copy expires after that eight week window, and the offer is not available for backlist titles. All other terms remain the same: e-book licenses will continue to be metered for two years or 52 lends, whichever comes first, on a one copy/one user model.
Additional copies will then be available at full price (generally $60 for new releases) after the eight-week window has passed. Under the publisher’s new digital terms of sale for libraries, "library systems" will be now be allowed to purchase a single-that is, one-perpetual access e-book during the first eight weeks of publication for each new Macmillan release, at half price ($30). More than a year after i mposing a controversial four month “test” embargo on new release e-books in libraries from it’s Tor imprint, Macmillan announced today that it will now impose a two month embargo on library e-books across all of the company's imprints.
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