Amazon (AMZN - Free Report) is making every effort to expand original stories content in order to expand presence in the world of digital books.
This is evident from its latest agreement with the Mexican filmmaker, author and actor, Guillermo del Toro, for his first short story collection, which will be basically based in a world of dark fantasy, otherworldly horror and series of strange happenings. Notably, del Toro is best known for his works in the horror genre.
The short story collection is going to be published in 2021 as part of Amazon Original Stories, under the new trade name of Amazon Publishing.
Further, stories will be available in the form of e-books and audio books on the company’s Kindle and Audible, respectively.
We believe the del Toro’s popularity and creativity is likely to aid the download rate of the collection under review. Further, Amazon anticipates an increase in the adoption rate of Kindle and Audible backed by its latest move.
Amazon continues to focus on expansion of books portfolio to cater to the rising demand for digital books worldwide backed by growing Internet and mobile phone usage.
Moreover, e-books are gaining traction owing to the growing proliferation of reading devices that sort of replicates the experience of reading an original book.
Per a report from Statista, the global e-book market is expected to generate $13.7 billion revenues in 2019. Furthermore, revenues are anticipated to reach $15.2 billion by 2023 at a CAGR of 2.7% between 2019 and aforementioned year.
Further, data from ResearchandMarkets show that user penetration in e-books space is expected to see a CAGR of 3.3% over a period of 2018-2023.
Additionally, audio books market is booming in this fast-paced world on the back of technical advancement. Moreover, the companies offering such books are witnessing strong download rate.
Expanding Content Portfolio
Amazon is well-poised to capitalize on prospects in the digital books market with the aid of its expanding content on Kindle and Audble.
Apart from the latest story deal, Amazon Original Stories recently published the forward collection of six science-fiction short stories. Further, it is about to come up with Mindy Kaling’s essay collection on charming and intimate reflections on life next summer.
Also, Dean Koontz’s short thriller stories called Nameless will be published in November this year.
Further, Amazon has recently added a vast repertoire of traditional Chinese language books on Kindle.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider some better-ranked stocks like Rosetta Stone (RST - Free Report) , Alphabet (GOOGL - Free Report) and Adobe Systems (ADBE - Free Report) . While Rosetta Stone sports a Zacks Rank #1 (Strong Buy), Alphabet and Adobe carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Rosetta Stone, Alphabet and Adobe is currently pegged at 12.5%, 17.5% and 16.25%, respectively.
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