Amazon testing new e-book subscription service

Amazon is testing a new subscription service called Kindle Unlimited that would allow users to access as many Kindle e-books and audio books as they like, similar to how Netflix distributes movies.
The company has uploaded images of the books that will be available and so far the count is more than 600,000 titles, including popular series such as the Harry Potter books and the Hunger Games trilogy. The subscription will reportedly cost $9.99 a month, giving users access to all the books in Amazon's library.
The new service was first reported by technology site GigaOm.
"Enjoy unlimited access to over 600,000 titles and thousands of audiobooks on any device for just $9.99 a month," the page reads.
The company has not announced the launch of the service neither have they commented on the development.
A quick look at the list of publishers featured shows that the big 5 publishers aren't participating in the service. Participating publishers include Algonquin, Harvard University Press, Bloomsbury, Houghton Mifflin Harcourt, Open Road Media, W.W. Norton and Workman.
The new service will have to compete with other services such as Oyster and Scribd. Scribd launched a Kindle app in January that gives readers access to 400,000 books from over 900 publishers for $8.99 a month.
"It's a manoeuvre to get into the market before other e-book subscription services, such as Oyster and Scribd, gain a foothold," said Philip Jones, editor of the Bookseller trade magazine.