Legible Signs Partnership Agreement with Macmillan Publishers, Expanding Reach to 4 of the Top 5 Publishing Houses Worldwide

Rhea-AI Summary

Legible Inc. (CSE: READ, OTCQB: LEBGF) has announced a significant partnership with Macmillan Publishers, enhancing its catalog with award-winning titles.

This collaboration adds tens of thousands of publications to Legible's existing collection of approximately two million ebooks, thus positioning the company as a major player in the digital publishing space.

Legible's Chief Publishing Officer, Angela Doll, emphasized the enhanced user experience through this diverse collection. Additionally, the partnership aligns with Legible's recent launch of LibrarianAI, an AI-powered book discovery tool, indicating a strong growth trajectory.

With this agreement, Legible strengthens its position alongside major publishers and distributors, including Hachette and Ingram CoreSource, aiming to drive revenue through expanded sales opportunities.

Positive

• Partnership with Macmillan Publishers adds tens of thousands of publications to Legible's catalog.
• Legible's collection now includes works from all 'Big Five' publishers.
• Launch of LibrarianAI enhances user engagement and book discovery.
• Potential for increased revenue through access to award-winning titles.

Negative

• None.

Collaboration Unlocks Access to Award-Winning Titles & Elevates Legible’s Standing in the Publishing World

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Legible Inc. (CSE: READ) (OTCQB: LEBGF) (FSE: D0T) ("Legible” or the “Company”) is thrilled to announce that it has signed an Agency contract with Macmillan Publishers (“Macmillan”), one of the largest and most respected publishing houses in the world with a rich history of publishing some of the most influential and thought-provoking works in literature.

Macmillan is one of the “Big Five” publishers through which approximately 60% of English-language books are produced: Penguin Random House, Hachette, HarperCollins, Simon & Schuster, and Macmillan. With the signing of this contract, Legible now has partnerships with Hachette, HarperCollins, Simon & Schuster, and Macmillan, as well as the world’s largest book distributor, Ingram CoreSource, solidifying its position as a leading platform for readers and authors and adding tens of thousands of publications to Legible’s already substantial catalog of approximately two million ebooks.

“We are thrilled to welcome Macmillan, a powerhouse in the publishing industry, to our ever-growing catalog,” said Angela Doll, Legible’s Chief Publishing Officer. “By adding Macmillan's diverse and distinguished collection, we are expanding the literary landscape for our users and fostering a global community that celebrates the transformative power of literature.”

Macmillan boasts an extensive selection of award-winning and bestselling titles in genres ranging from fiction and nonfiction to children's books and educational resources. This partnership grants Legible readers seamless browser-based access to Macmillan's vast selection, enabling them to enjoy a wealth of diverse and engaging content and driving revenue for the Company via new sales opportunities and award-winning titles.

“This milestone expansion of Legible’s catalog complements the recent release of our world-first AI-powered book discovery tool, the LibrarianAI - now in Open Beta - and our groundbreaking partnership with one of Canada’s largest transit authorities, Metrolinx, serving 70 million people per year,” commented Kaleeg Hainsworth, Legible’s CEO. “We continue to build value for readers and publishers while preparing to enhance the Legible customer experience further through the imminent launch of our audiobook, app and subscription offerings.”

Macmillan Publishers is the U.S. trade division of the Holtzbrinck Publishing Group, a large family-owned media company headquartered in Stuttgart, Germany. Its publishing companies include prominent imprints around the world that publish a broad range of award-winning books for children and adults in all categories and formats. U.S. publishers include Celadon Books, Farrar, Straus and Giroux, Flatiron Books, Henry Holt & Company, Macmillan Audio, Macmillan Children’s Publishing Group, The St. Martin's Publishing Group, and Tor Publishing Group. In the UK, Australia, India, and South Africa, Macmillan publishes under the Pan Macmillan name. The German company, Holtzbrinck Deutsche Buchverlage, includes among its imprints S. Fischer, Kiepenheuer & Witsch, Rowohlt, and Droemer Knaur.

With the addition of Macmillan's catalog, Legible becomes an even more valuable resource for readers, authors, publishers, and the literary community around the world.

About Legible Inc.

Legible Inc. is a book entertainment and media company with a mission: millions of books for billions of readers, globally. Legible provides innovative eReading experiences to anyone anywhere with an internet-enabled device. Legible has developed two high-value verticals: a browser-based, mobile-first B2C eBook entertainment platform delivering a global online bookstore and reading system for the emerging web with high-growth potential called Legible.com; and a global B2B eBook conversion and production service called Legible Publishing. Legible is transforming the digital publishing industry and gaining market share through innovative, 21st century publishing and global reading experiences, and embraces core values of sustainability, accessibility, and global literacy.

Visit Legible.com and discover the place where eBooks come to life.

Cautionary Note Regarding Forward Looking Information

This Press Release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Legible’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Legible's control, including the impact of general economic conditions, industry conditions, currency fluctuations, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Legible believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward- looking information. As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Legible does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230410005130/en/

Legible Inc.

Deborah Harford

EVP, Global Strategic Partnerships

1 (672) 514-2665

(CSE: READ) (OTCQB: LEBGF) (FSE: D0T)

invest@legible.com

Website: https://invest.legible.com

Source: Legible Inc.

FAQ

What is the new partnership Legible has established in April 2023?

Legible has signed an Agency contract with Macmillan Publishers, enhancing its ebook catalog.

How does the partnership with Macmillan affect Legible’s ebook offerings?

It adds tens of thousands of award-winning and bestselling titles to Legible's existing collection of approximately two million ebooks.

What is the significance of Legible's agreement with Macmillan for investors?

The partnership solidifies Legible's position in the digital publishing market, potentially driving revenue growth.

What technology has Legible recently launched alongside the Macmillan partnership?

Legible has launched LibrarianAI, an AI-powered book discovery tool, to improve user experience.

What is Legible Inc.'s stock symbol?

Legible Inc. trades under the ticker symbol LEBGF on the OTCQB.