Bookswim hopes to translate the successful Netflix DVD rental model into a system for pushing ink and dead trees around. Intrigued by a comment co-founder George Burke left on a post here, I asked him whether they’d agree to a short email “interview”. COO Shamoon Siddiqui was kind enough to answer my questions.
**I’m sure the publishers aren’t very excited about this idea. Have you
gotten any feedback from the book industry?**
We haven’t actually received much feedback from the book industry. We don’t see it as a problem because people will ALWAYS want to purchase books as well (which we offer), so there’s no cannibalizing of the market.
**Even if they haven’t said anything yet– If Bookswim takes off, it will effect the bottom line of the same large media companies that have shown no hesitation in using the courts and legislative influence to protect old business models– *even if the threat itself is an illusion*. Are you ready for that?**
We do not foresee any legislative action being taken against us. We will prepare for future events as necessary however.
**Your brochure says “online book rentals [are] expected to outpace online
book sales”. Is there any information, besides the success of the Netflix
model in other areas, that supports this claim?**
This is an extremely ambitious claim – more like a goal actually – that was meant to motivate prospective investors. Only a period of many years will tell whether online rentals will exceed online sales
**Where are the books coming from? The used book market?**
Our books are coming from several different sources. We have relationships with several new book distributors as well as used book distributors. In the future, we’ll even get books from our members (in exchange for credit).
**Is everything going to ship in and out of New jersey, or do you have other
distribution centers?**
Everything will be coming from and to New Jersey. We will, in the future, have additional distribution centers, but in our beta launch stage our focus is this regional market (although the service IS available nationally).
**By “this regional market”, do you mean NYC and Northern NJ, the entire mid-Atlantic, or something else?**
Initially we are focusing on the mid-Atlantic region. NY, NJ, PA, DE
**Have you thought about partnering with local libraries, in addition to (or
instead) of building out a new distribution system?**
Several libraries have contacted us looking to work with us on several fronts. We are discussing many possible partnerships with libraries, but that also is a future development.
**Do you plan on having ratings, discussion, groups, and other social features?**
We have implemented a ratings and reviews sytem and are working closely with a well known recommendations engine so that our users always know what to read next!
**Is there anything you think Netflix does wrong?**
Netflix has hit it right on the head. We can’t see too many flaws with their business model and it’s their success that inspired us in the first place!
*Bookswim plans to launch within the first quarter of 2007– which would mean “real soon now”. If you think of any questions I should have asked, leave them in the comments and I’ll try to get them to respond.*
**More**: George and Shamoon have been doing what amounts to a blog press tour, check out another interview at Joe Wikert’s Publishing 2020 Blog.
16 Comments
The idea sounds interesting to me. I’m a big Netflix fan, and have recently been getting back into reading much more regularly. Luckily I’m in the intial target area, so I hope to give it a spin.
Currently, their site seem to be forwarding to a bum link and isn’t therefor working. Do you know what sort of fees they plan on charging? Also, would you and/or they be interested in gathering some followup questions from readers?
Thanks!
Thank you Ross for your time.
Nate, we always look forward to questions from potential customers. Just post ‘em on Ross’s blog and I’m sure he’d be happy to get answers from us.
Um, the library?
But without a queue system, a library is more like “Blockbuster for books”.
I wish all the luck to Shamoon and George, but I stand by the idea that regional library systems should be integrating the best ideas from Netflix into their service.
Until that happens on a large scale though, I think the market for Bookswim might actually exist.
My concern is the same with Netflix, Zip, etc., in that they are shipping products potentially long distances back and forth that would otherwise be aquired through personal modes of transport (including walking, biking, transit-taking). Seriously, what’s wrong with the library? Are we really that lazy?
There is a market for this when it comes to crime novels and fiction in general. People that enjoy reading modern paperback thrillers. These aren’t the kind of books you fill your bookcase with.
But as far as non-fiction and literature I can’t see this taking off. I buy books because I not only like to read them I like to reference them and I like to pass them on to friends etc.
You can tell a lot about a person from their bookshelf.
If this service focuses on the tom clancy fan then they have a market. But I can’t see it expanding to literature readers.
They can’t follow the netflix business model. Videos and books are different. I rent videos. I keep books.
We have been doing this with paperbacks and CD audiobooks since 2000.
http://www.booksfree.com
Thanks for the link Bryan– I’ll check out booksfree.
While I can appreciate some of the views mentioned here, I have to say I think one large assumption is being made. Not everyone has a big library within walking distance, or a Border’s right around the corner.
Personally, whether fiction or non, I’ve been burned by enough bad books to not want to just buy everything without previewing it first, and there’s no way my local library is going to have 1/2 the books I’m interested in looking at. Some maybe, but not all (our local library actually has a great kids program however, where we talk our children to participate every week - this sort of service can’t be replaced online).
A service like bookswim allows people in non-metropolitan areas a much more afforable way to still achieve a (hopefully) great selection. Now … all of this could turn out to be a waste if it just offers a small subset of books out there that could be considered “standards” for any library system or Wal-Mart bookshelf.
Even when I lived in a larger city area, when it came to movies the Netflix model gave me a much better selection than the local Blockbuster. Watching the next Harry Potter can be done from anywhere. Watching a small indie or foreign film is a bit different.
I’ve actually talked about the concept quite a bit with friends and have discussed some topics such as the abuse books take, how much longer it takes to read a book versus watching a movie and the weight/cost of shipping books. It will be interesting to see how this unfolds. I’m a fan of owning my own books but I have to admit, even with the purges, I am running out of shelf space.
I can think of one niche where the economics and usage patterns are almost identical between DVD’s and books–
Graphic novels: they (mostly)cost between $10 and $20, can (mostly)be finished in less than two hours, and are (mostly) all the same size.
I have a small library within a 35 minute walking distance, which, given that it takes 35 minutes, I’ve only visited on foot once — but I can bus there in 10 or drive there in 5 (usually combined with other trips). They can also order books from other larger libraries across the whole system. Even the largest library system in Vancouver doesn’t have everything, or the waitlists are too long for certain items if I need them right away for research, so then I’ll buy it — if it’s for research. Like Bandini said, to use them for reference as well as reading. My concern is with the environmental impact of shipping products in general around WHEN they can be acquired locally — this includes food. Until we have clean methods of transporting goods, this is, I find, a problem and so far no one else has mentioned this here.
Erika– that’s a great point. In your first comment you asked “Are we really that lazy?”, and I think the answer is a clear yes.
“We” are that lazy, and entrepreneurs see that as a market opportunity. I’m not sure you’ll get much more than an uncomfortable silence if you try to ask one if it’s responsible to build this sort of business on the shared shipping/mailing infrastructure.
Hello all,
Great discussion. “We” are lazy to some extent, but it’s also our lifestyles. As great as our libraries are, some of us just don’t have the time to go to them. If we work till 5 and the library is only open till 7, do we really want to rush to it?
Regarding the environmental impact of shipping… well, we haven’t run the numbers but my intuition tells me that economies of scale can help. The mail is going ANYWAY; the trucks, the planes, the post offices, etc are all running. By sending out books through it, we’re utilizing the system and the more we use it, the more efficient it gets. Is it really environmentally friendly to DRIVE to your library twice a week? Again, without crunching the numbers, my intuition says “no”.
I think transporting goods is a great way to reduce the detrimental enviromental effects simply because the shipping mediums often cater to many people at once whereas driving caters to… one. But there is the bus option that Erika mentioned. Again, if you have a great library system and have the time to use it and it has the books that you want, then by all means, use it. In fact, within a few months (no definite time frame), BookSwim will probably be working WITH your library to better serve you!
We’d love for the entire world to be customers, but we realize that’s not realistic. We are catering to a select market of individuals, families and institutions that are currently unhappy with “the way things are” (regarding obtaining books). If you are happy with the status quo and see no need to change, then like my father said to me “if it ain’t broke, don’t fix it”.
I do enjoy reading these comments and I look forward to all your future comments as well.
Shamoon Siddiqui
Thanks, guys. Great points.
Shamoon, what about weekends? Mine actually isn’t open Sundays (at least in the wintertime), as most aren’t I guess.
The idea that mail is going anyway, seems to apply to my boyfriend’s perspective that “what difference does it make whether I buy imported food or not? It still comes in?” It adds up. If there’s room, take it, like a carpool. But like you said, if one has the resources there, use it. Perhaps there are other ways of solving issues like a lack of resources, libraries too far away, early closing times. You’d be surprised how close-together the libraries are in my general community (unlike my prior one). That said, the bus system here SUCKS, but by bus, I can get to at least 3 of them. Where I used to live, I would walk up a steep hill 20 - 25 minutes to visit the library, then bus back down. Anyway.
Many companies cater to laziness. I marvel at the fact that people will buy prepared chili in a can when it takes about 5 minutes to make it.
Thank god people still want books, at least. :)
Hello Erika (and all),
People will always read books (we hope!). We just want people to get them easier!
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