Amazon.com has launched a textbook rental service, allowing US students to borrow print editions for a school term at up to 70 per cent off the price of new titles, but the education industry is expecting the growth of rentals to slow.
Book Industry Study Group research found that textbook rentals rose last year from 8 per cent of the market to 11 per cent, with a corresponding drop in new textbook sales, from 59 per cent to 55 per cent. There is also a sizeable second-hand market in textbooks.
Student Monitor, another research group, put rentals’ penetration of the print textbook market at 13 per cent last year. Cengage, one of the largest US college publishers, predicted that this could double to 26 per cent by 2015 before flattening out.
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