Legible Launches Unique Publishing Services to Accelerate Customer and Revenue Growth

Rhea-AI Summary

Legible Inc. has launched a new service, Legible Publishing Services, providing comprehensive eBook digital conversion solutions. This service aims to satisfy the rising demand for accessible eBooks, targeting the one billion individuals with reading disabilities. By partnering with leading publishers, Legible is positioned to enhance its eBook catalog and generate significant revenue. Currently, the platform has 14,000 users and has recently acquired contracts with three of the top five global publishing houses, facilitating the production of multimedia and immersive eBooks.

Positive

• Launch of Legible Publishing Services for eBook conversion
• Targets the large reading disabilities market of over one billion people
• Partnerships secured with three of the top five global publishing houses
• Current user base of 14,000 with 10,000 new sign-ups since January 1st
• Expected immediate cash flow and significant top-line revenue from new services

Negative

• None.

• Adding an Immediate Additional Source of Revenue
• Fulfilling Strong Demand for Comprehensive Web 3.0 eBook Conversion Solutions
• A Significant Growth Driver for Legible’s eBook Entertainment Platform, Legible.com

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Legible Inc. (CSE: READ) (FSE: D0T) (OTC: LEBGF) ("Legible” or the “Company”) is pleased to announce the launch of a world-class eBook digital conversion service, branded as Legible Publishing Services. This service is now creating and producing “born-accessible” as well as leading-edge multimedia and immersive eBooks for the global publishing industry.

On a fee for service basis, publishers and publishing organizations are now able to contract with Legible Publishing Services to access the Company’s conversion services for their entire eBook catalogues across multiple languages. The end-product delivered will be beautiful digital book assets which are optimized for accessibility to the billion-strong reading disabilities market. By offering this service, over and above being an eBook Entertainment company, Legible has also become a production house delivering video, animation and augmented reality (AR) for Web 3.0 multi-media integrated and immersive eBooks, which are the future of digital publishing.

In publishing, "Born-accessible" refers to building an eBook that is also fully accessible to the reading disabled community which globally represents over a billion people (not including people associated with the community), rather than only remediating and updating eBooks post-production to make them accessible. Born-accessible content is designed to meet the needs of all readers and helps eBook purchasers to procure content that works for them – no matter their ability level.

Publishers and authors still face considerable challenges both in converting their backlist of book catalogues to the eBook format in general, and in making them accessible to all people with reading disabilities. Legible is already working with large publishers and high-profile authors who do not yet have their catalogues of book titles prepared for digital distribution, and who do not have the in-house expertise, or production team, to offer their titles as media-rich, immersive and fully accessible ebooks.

“Legible’s reading system is capable of showcasing book content for the Web 3.0,” stated Kaleeg Hainsworth, CEO and President of Legible, “and Legible Publishing Services is creating the born-accessible, compelling, immersive, and original content for that reading system. A world-class eBook conversion service will not only generate significant top-line revenue but also immediate cash flow. Legible.com currently has 14,000 platform users with over 10,000 new users having signed up since January 1st. Awareness and conversion marketing campaigns are currently underway, and the addition of our unique publishing services will accelerate our ability to scale our growth on Legible.com.”

Legible is proud to have already secured contracts with three of the top five global publishing houses and hundreds of publishers internationally so that our users will have access to over a million titles. Legible is currently ramping up its marketing and sales efforts, and as previously news released will be presenting on the future of digital publishing at the upcoming 2022 London Book Fair taking place April 5th-7th. “Accessible, shareable, delightful, and made by book lovers for book lovers, Legible is transforming the publishing and reading experience, and now transforming the publishing services industry as well,” added Hainsworth.

Legible will be releasing these next-generation, mobile-inclusive books by well-known authors, publishers, and global organizations in the coming weeks and months.

About Legible Inc.

Legible is a book entertainment and media company that has developed an online eBook marketplace called Legible.com, with an eBook reading system capable of showcasing next-generation book content, and a world-class digital conversion publishing service for creating multimedia eBooks and born-accessible eBook content.

Founded and led by a team of technologists, authors, eBook publishers, designers, and publishing industry insiders, Legible is transforming the eBook industry. With a mission to provide delightful eBook experiences to readers around the globe through any browser-enabled device, Legible is committed to providing delightful eReading to readers that value immersive entertainment experiences through beautifully constructed and content dynamic books, provided by a company that promotes sustainability, accessibility, and global literacy.

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

Readers are invited to visit Legible’s continually evolving curated Staff-Picks Bookshelf: https://legible.com/ca/list/staff-picks

Forward-Looking Information

Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking ‎statements are not based on historical facts, but rather on current expectations and projections about future events, many ‎of which, by their nature, are inherently uncertain and outside of the Company’s control and are therefore subject to risks ‎and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the ‎forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative ‎thereof or similar variations. These statements include forward looking statements regarding new revenue sources and growth plans for the Company. Those assumptions and factors are based on information currently available to the Company. Although management of the ‎Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as ‎anticipated, estimated or intended. Among the key factors that could cause actual results to differ materially from those ‎projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, ‎including changes in the financial markets; changes in applicable laws; ‎and the diversion of management time. Should one or more of these risks, uncertainties or ‎other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, ‎actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or ‎expected. There can be no assurance that such statements will prove to be accurate, as actual results and future events ‎could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-‎looking statements and forward-looking information. The forward-looking information contained in this release is made as of ‎the date hereof and the Company assumes no obligation to update or revise any forward-looking statements or forward-‎looking information that are incorporated by reference herein, whether as a result of new information, future events or ‎otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking ‎information contained herein. All subsequent written and oral forward-looking information and statements attributable to the ‎Company or persons acting on its behalf is expressly qualified in its entirety by this notice.‎

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220320005056/en/

Kaleeg Hainsworth

Chief Executive Officer

Laura Brady

Head of Accessibility

Daniela Trnka

Vice President Investor Relations

Legible Inc.

Phone: 1 (672) 514-2665

Email: invest@legible.com

Website: Legible.com

Investor Relations: investors.legible.com

Source: Legible Inc.

FAQ

What is Legible Inc.'s new service launched on March 20, 2023?

Legible Inc. launched Legible Publishing Services, providing digital eBook conversion solutions.

How does Legible Publishing Services benefit publishers?

It allows publishers to convert their entire eBook catalogues into accessible formats, targeting the reading disabilities market.

What is the significance of 'born-accessible' eBooks?

'Born-accessible' eBooks are designed for accessibility from the outset, catering to readers with disabilities rather than retrofitting existing eBooks.

How many users does Legible.com currently have?

Legible.com has 14,000 users, with 10,000 new users signed up since January 1st, 2023.

Which major publishing houses has Legible contracted with?

Legible has secured contracts with three of the top five global publishing houses.