A new platform called LIT Videobooks is a producer and distributor of video versions of best-selling business and nonfiction books that recently emerged from beta, per the company’s press release.  It’s definitely an interesting concept that seems to be the next natural evolution after audiobooks.

Beta test.  The company has been testing its concept since late 2020 when it released Contagious by Jonah Berger, to the beta platform.  Things seems to be working since that videobook has been purchased more times than all of the copies sold in print in the U.S.

Pricing and next batch of releases.  The next three titles to be released are:

• Predictably Irrational by Dan Ariely,
• Profit First by Mike Michalowicz, and
• Trillion Dollar Coach by Eric Schmidt, Jonathan Rosenberg and Alan Eagle

All of these will be available for a promo price of $9.99.  After the introductory period, the company plans to sell its videobooks for a standard MSRP price of $24.99.

Financing.  They recently raised $5M led by Mac Venture Capital with participation from Founders Fund and Noemis Ventures.

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