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Amazon.com, Inc. today announced KDP Select, a new option featuring a $6 million annual fund dedicated to independent authors and publishers. Here's how KDP Select works: if a KDP author or publisher chooses to make any of their books exclusive to the Kindle Store for at least 90 days, those books are eligible to be included in the Kindle Owners' Lending Library and can earn a share of the $6 million fund. Authors and publishers can enroll a single book, their whole catalog or anything in between. The monthly fund for December 2011 is $500,000. KDP Select launches today, and 31 of the top 50 KDP authors have already enrolled 129 titles. These authors include J. Carson Black, Gemma Halliday, J.A. Konrath, B.V. Larson, C.J. Lyons, Scott Nicholson, Julie Ortolon, Theresa Ragan, J.R. Rain and Patricia Ryan.

merican publishers are now bringing in more revenue from ebooks than hardcover books, according to a report published by the Association of American Publishers (AAP). The figures, which were posted on GalleyCat on Friday, show that net sales revenue from ebooks exceeded that of hardcover books in the first quarter of the year: a first. The data was compiled from 1,189 publishers and did not include children's books.