Amazon.com, Inc (NASDAQ:AMZN) has made a multiyear publishing deal with the leading publisher Harper Collins. This deal comes as an end to the long running gossips about the speculated disputes between the two companies.
The deal concerns with the sale of books in digital and print format. According to the agreement, the company has agreed to host the books by Harper Collins on its retailing platform. This is good news for the Harper Collins as the titles published by the company will continue to be benefited by the vast distribution provided by Amazon. Eric Crum, spokesperson of Harper Collins confirmed the news.
The deal allows Harper Collins to set prices of their e-books and encourages it to give discount for Amazon. This is achieved by giving incentives to the company for setting lower prices for digital books.
The agreement comes just in time as the contract between both the companies is about to expire. It was said that Amazon was going to discontinue the distribution of books published by Harper Collins. Instead, the company has decided to tread an alternative path of collaboration.
Earlier the company was caught up in conflict with New York Publishers, especially with the publisher Hachette. The publishing companies had complained about the monopoly of Amazon.com, Inc (NASDAQ:AMZN) in digital books distribution and demanded the right to set prices for the e-books published. The situation resolved when the company made deals with Simon & Schuster and Macmillan.
The financial details of the agreement have been released as yet. However, it is sure that the company will benefit from the share of e-books. Currently, the company is the largest distributor of the digital and print books. It covers a large portion of the market. Publishing companies have long been searching for alternative distribution channels. Spokespersons of the company have declined any comment on the deal as of now.
Amazon.com, Inc (NASDAQ:AMZN) has been known for pressurising publishers to gain maximum profit. However, the company has reversed its strategy as seen from its recent deals. We can surely hope that this becomes a win-win situation for the company and publishers alike.
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