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Users browse books online and have their choices home-delivered, rather than physically visiting a library to borrow a book. This e-commerce model is comparable to the video rental service provided Netflix. In 2009, online book rental was gaining popularity in India, with a number of websites offering free doorstep delivery for a small monthly fee.
Libraries have to contend with paying between three to five times more for an e-book or audiobook compared to the print version.
In developing and developed nations, for-profit book rental services have started to lend physical books, audiobook CDs, e-books, and audiobook MP3s through stores and online after the popularization of the World Wide Web. [6] Most book rental companies provide books with doorstep delivery using logistic services.
CloudLibrary was created in 2011 by 3M as part of its library systems unit as a competitor to OverDrive, Inc.; in 2015 3M sold the North American part of that unit to Bibliotheca Group GmbH, a company founded in 2011 that was funded by One Equity Partners Capital Advisors, a division of JP Morgan Chase.
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OverDrive, Inc. is a worldwide digital distributor of ebooks, audiobooks, online magazines and streaming video titles. The company provides digital rights management and download fulfillment services for publishers, public libraries, K–12 schools, colleges, universities, corporations, legal industries, and formerly retailers.
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