Amazon has today announced Kindle Unlimited, a new Netflix-style eBook and audio-book subscription service that offers users unlimited access to over 600,000 titles for a fixed monthly fee.
The announcement comes two days after news of the service was leaked online through a Kindle chat forum.
The price of Kindle Unlimited has been set at $9.99 (£5.85), with a free 30-day trial, making it a similar offering to Netflix's unlimited television and film streaming service.
"With Kindle Unlimited, you won't have to think twice before you try a new author or genre - you can just start reading and listening," said Russ Grandinetti, senior vice president at Kindle.
"In addition to offering over 600,000 eBooks, Kindle Unlimited is also by far the most cost-effective way to enjoy audiobooks and eBooks together. With thousands of Whispersync for Voice-enabled audiobooks to choose from, you can easily switch between reading and listening to a book, allowing the story to continue even when your eyes are busy."
Among the titles on offer are the best selling Harry Potter and Hunger Games series and the Lord of the Rings trilogy, however it appears that none of the "Big-Five" publishers are involved in the service.
Authors have already expressed concerns about how Kindle Unlimited will affect the way they receive payment for their books.
M J Ware, a children's horror author, wrote on a writer's forum: "Anyone know how we are going to get paid for these books? Is it just another barrow? I can't imagine it would be, or they'd lose money on the deal."
The service is currently only available for US customers and Amazon is yet to confirm if or when it will be available to the rest of the world.