Yes! Exactly! Right now the ebook library model is based off the physical book library model where the library purchases a certain number of ebooks (say 10) and the author only gets a portion of the royalties on those ten copies, and then the library loans those copies out to an unlimited number of people.
It should be managed more like Spotify- where books can be read unlimitedly, but the author gets paid royalties every time someone reads their book. (Similar to how an artist gets paid everytime their song is streamed). I might actually write about this for a future post.
This is what I think the best course looks like. I know there are issues with Spotify's model (at least, I have heard people make this claim), but given that music had to transition to a streaming-based model (and considering that written text looks to be slowly going this way, too) the per-consumption royalty looks good to me.
Of course, instantiating this in the real world is another question. For ebook libraries, it certainly seems plausible, but for regular libraries?
Right, exactly. And we could learn from spotify (pay the creators more). But the ebook library is huge now and could easily be transformed. The only problem is that they aren't charging a monthly subscription fee (like Spotify) and so they would have to use donation dollars to fund that. And yet, I have to wait 15 weeks to get a book on my kindle because other people are reading it first, which seems very outdated.
It should be managed more like Spotify- where books can be read unlimitedly, but the author gets paid royalties every time someone reads their book. (Similar to how an artist gets paid everytime their song is streamed). I might actually write about this for a future post.