The internet is meant for sharing—and when it comes to distributing documents online, few do it better than Scribd. Dubbed the “YouTube for documents” upon its founding in 2007, it’s grown into a platform that doesn’t just share papers, but also ebooks, audiobooks, and even magazine articles. By the time the company began to consider going public in 2021, Bloomberg believed any such deal would value Scribd at over $1 billion.
Given its exponential growth, it’s no surprise that the platform continues to update its offerings. It now provides different products and services, including SlideShare for professional documents (think infographics and presentations), the original Scribd website for community-shared files—and Everand for key products including ebooks and audiobooks.
With KWQC reporting that libraries across the US are particularly struggling to keep up with rising demand for ebooks and audiobooks, Scribd’s offerings through Everand provide an accessible way for bookworms to get their fix. But how exactly does Everand’s business model allow it to meet this demand and make money in the process?
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About Everand
Everand’s digital library takes on its parent company’s former role in offering thousands of ebooks and audiobooks through a subscription plan—along with podcasts, magazines, newspapers, and even sheet music. It’s got something for everyone: the works available on its app range from all-time bestsellers like The Lord of the Rings and more obscure titles like Interpreting Themes in Textile Art to exclusive originals like essay collections curated by Roxane Gay.
Everand also goes the extra mile to do right by its publishers and authors. Through the BookID system, its rapid response group can quickly and accurately respond to valid complaints of copyright infringement. As part of Scribd, Everand is also addressing the rise of AI in publishing by changing its terms of service. Its data can no longer be used by subscribers or partner companies for monetization or to train large language models. These steps have helped Everand better protect the various creators that contribute to its library.
How Everand works
Much like Canva’s design platform, Everand works via subscription. Anyone can access its digital library via iOS or Android by paying a flat monthly fee, including people with an existing Scribd subscription. Unlike Canva, though, it doesn’t work on a “freemium” model—instead, users can start out with a free 30-day trial to see if the platform is right for them. Subscriptions can also be canceled at any time, and users can still access Everand until the end of their last billing cycle.
Everand also boasts a few additional features for readers. Its interface allows users to change color themes and font sizes, highlight text and make notes, organize reading lists, add bookmarks, set a sleep timer on audiobooks, and even find new works thanks to tailored recommendations powered by machine learning. Anything from its catalog can be downloaded for offline consumption, enhancing its convenience and ease of use and providing a more seamless user experience.
How Everand makes money
In a nutshell, Everand can keep its subscription at the same price as a single book because it minimizes its advertising costs. The platform instead relies on word of mouth to endorse its features, meaning what users see or hear about it is exactly what they get. Everand also makes money by working directly with publishers.
In a 2020 interview with Latka, Scribd founder Trip Adler explained that they switched from a freemium to a subscription business model at a time when book subscription services were unheard of. The company thus began its subscription journey working with small publishers, paying them every time readers would get 20% through a book. This strategy eventually drew in bigger names like HarperCollins, allowing the company’s catalog to expand into what’s now Everand’s digital library—and making its subscription services appealing to more readers.
With demand for ebooks and audiobooks on the rise, Everand is revolutionizing the industry by making money with a subscription business model. In doing so, it’s earned yet another nickname—the “Netflix of books.” Want more posts like this? Check out our other articles here on Zeen.
