How umbrella academy merchandise became a $6 billion market for Amazon’s Kindle store
Amazon is expanding its umbrella academy business, buying umbrella academy, the company announced Monday.
The acquisition is part of a broader strategy to add more revenue streams to its Kindle store and bolster its e-reader business, Amazon said in a blog post.
The deal includes the umbrella academy and the parent company, umbrella, and the umbrella team of authors and publishers.
Amazon said it will buy umbrella academy for $6.3 billion.
The umbrella academy operates on a subscription model that offers e-books and audio books to customers for $7.99.
It is part the umbrella’s umbrella brand, which has been around for decades and is one of the largest and most successful publishers in the industry.
It has been selling about 1.6 million books a month to book buyers, according to Amazon, which said the business had a $2.9 billion net profit last year.
“The umbrella team is focused on building and delivering the best products and services for our customers and their families, while also investing in new ways to reach new customers,” Amazon said.
An umbrella team includes some of the biggest names in the publishing industry, including Simon & Bacon, HarperCollins, Random House, Randomhouse Digital, Harper Collins Publishers, Simon &s; Bacon and Random House.
Barnes &:Alfa has more than 400 imprints.
The company is the biggest seller of audio books on Amazon, and it has expanded its digital offering by buying audio books from independent book publishers, including Audible and Audible Unlimited.
HarperCollins has been a publisher for more than 40 years, with about 1,000 titles.
Its imprints include HarperCollins Children’s Books, HarperCards, Harper, Harper Perennial, HarperPerennial Children’s, HarperTeen, HarperTrees, Harper-Collins Kids’ and HarperCollins Kids Classics.
Amazon acquired HarperCollins in 2016 for $970 million.