For books that are in high demand, let's say you pay $25 to buy the book outright, but you can then lend it as many times as you want. Assuming it's always checked out for two weeks, that's 26 readers a year who benefit, at a cost of less than $1 per reader per year.
But in a typical library, most books in the catalog are checked out infrequently. It might not make financial sense to purchase those books outright. But if a library can pay a licensing fee on a per-checkout basis, then it can expand its offerings.
But in a typical library, most books in the catalog are checked out infrequently. It might not make financial sense to purchase those books outright. But if a library can pay a licensing fee on a per-checkout basis, then it can expand its offerings.