Amazon launches lending library for Kindle e-reader users

Amazon has launched a lending library service to allow Kindle e-reader users to borrow e-books.

Available to Amazon annual Prime membership holders, the service allows Kindle owners to "borrow" an e-book up to once a month from a selection of thousands of books.

"Prime members now have exclusive access to a huge library of books to read on any Kindle device at no additional cost and with no due dates," said Jeff Bezos, Amazon.com founder and CEO.

The lending library allows notes, highlights and bookmarks to be saved in case customers re-borrow or buy the book at a later date.

Amazon has reached an agreement with publishers to include titles for a fixed fee. "Amazon is purchasing a title each time it is borrowed by a reader under standard wholesale terms as a no-risk trial to demonstrate to publishers the incremental growth and revenue opportunity that this new service presents," it said.

Russ Grandinetti, vice-president of Kindle content at Amazon, said authors will receive larger royalty payments as a result of the service.

The service was announced in April 2011 as a way to borrow books from local libraries in the US.

Details of the service's availability in the UK are yet to be announced.