Amazon add another $200,000 to Kindle Owners' Lending Library

Amazon's Kindle Owners' Lending Library is showing strong growth and now has more than 75,000 books and KDP Select books were borrowed a total of 295,000 times in December.

A $500,000 December fund meant that KDP authors earned $1.70 each per borrow and this amount is set to increase with the January fund being increased by another $200,000 to make a total of $700,000.

Although it is early days, the introduction of KDP selection looks to be beneficial to authors and Amazon says that participating authors have seen "an incremental 26%" in December.

Russ Grandinetti, Vice President of Kindle Content, said:

“KDP Select appears to be earning authors more money in two ways. We knew customers would love having KDP Select titles in the Kindle Owners’ Lending Library. But we’ve been surprised by how much paid sales of those same titles increased, even relative to the rest of KDP."

“Due to this early success and a seasonally strong January, we’re adding a $200,000 bonus to January’s KDP Select fund, growing this month’s total pool to $700,000.”

I'm just finishing my first book and as a soon-to-be first time author, I like the idea of the KDP Lending Library and it's something I'll take a closer look at when my book is ready to be published.