Another Kindle milestone
Amazon, maker of the popular Kindle e-reader and one of the biggest book retailers in the country, will have the exclusive rights to sell electronic editions of “The 7 Habits of Highly Effective People,” and a later work, “Principle-Centered Leadership.” Mr. Covey also plans to gradually make other e-books available exclusively to Amazon, which will promote them on its Web site.
The move promises to raise the already high anxiety level among publishers about the economics of digital publishing and could offer authors a way to earn more profits from their works than they do under the traditional system.
Arthur Klebanoff, chief executive of RosettaBooks, said that Mr. Covey would receive more than half of the net proceeds that RosettaBooks took in from Amazon on these e-book sales. In contrast, the standard digital royalty from mainstream publishers is 25 percent of net proceeds.