Scribd: Subscription App for Digital Book Worms

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May 30 (Bloomberg) -- Scribd Co-Founder Trip Adler discusses the subscription app to access 40 million books and documents with Betty Liu on Bloomberg Television’s “In The Loop.” (Source: Bloomberg)

Is everyone doing netflix for something?

It is a great model, right?

Consumers can spend one monthly price.

Rather than having to buy a book and reading it, you can do it everyone.

If you do not like it, there is more flexibility in choice.

How do the publishers get paid?

It is much different to an access model.

When you read, the publishers get paid.

Isn't there something where if you only read a few pages, then the publisher does not get paid?

When they crossed the threshold -- it depends on the book.

It is different if it is a cookbook versus fiction.

How much does the publisher get paid?

We pay them as if they actually sold the book.

They basically pay as they sell the books.

Ok.

how do you get paid?

The description is that people keep them for a lot of time.

They keep subscriptions for many months.

They pay the monthly fee and then you pay.

We are able to make it work as a result.

Are you profitable?

? we're in a really strong cash position.

In a good spot.

Not profitable yet?

We have been reinvesting in the future, so the financials are changing.

You have had trouble signing publishers onto this?

It has been going well so far.

We announced persius yesterday, simon & schuster the previous week.

We also added the first book from harpercollins.

It is another endorsement the publishers are looking.

We're going to reach a tipping point.

What was the biggest question?

From knowing book publishers, it is not the most nimble of companies.

They're always trying to protect their business model.

What has been their biggest question?

They just want to know that their model is going to be in the industry for the long run.

They went to know that readers are getting something out of it.

They also want to expand the market in the long run.

Therefore, people read more books.

What is most popular?

What gets people wanting to subscribe?

We have a really broad library.

Everything from fiction to romance to mr.

He.

-- mystery.

We even had a reference category recently.

Is that some of the most popular downloads?

It is up there.

We also have lonely planet.

Fiction is probably still the most popular.

We are seeing that books get more popular.

Trip, you must have the position that bookstores are dying?

Not really.

We are sort of like the digital version of bookstores.

If you go to our site, you can visit a bookstore in the physical world.

Amazon is a digital version of a bookstore.

It seems as if what you're saying is that people do not go to bookstores and browse.

If they did not buy the books, there are stuck with them.

It is just another way to not go to the bookstore.

We have had a really different experience.

Once you pay, you can read whatever you want.

There is that feeling of being a library.

You can browse around and sample books.

We're a bookstore.

This text has been automatically generated. It may not be 100% accurate.

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