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|Industry||eBooks, Library Services, School Services, Software and App Development, Digital Content Management, Publishing|
|Founded||1986 in Cleveland, Ohio (34 years)|
|Steve Potash (Pres and CEO)|
|Products||OverDrive Media Console, OverDrive Read, OverDrive Media Station, Content Reserve|
OverDrive, Inc. is an American digital distributor of eBooks, audiobooks, magazines, music, and video titles. The company provides secure management, digital rights management, and download fulfillment services for publishers, libraries, schools, and retailers.
OverDrive was founded in 1986 and initially converted analog media to digital formats, such as interactive diskettes and CD-ROMs. In 2000, the company opened Content Reserve, an online ebook and downloadable audiobook repository from which its distribution business would develop[when?].
In 2012, the company announced a series of service upgrades, including: OverDrive Read, a browser-based ereader, streaming audiobooks, which enable access to audiobooks via the OverDrive Media Console apps[when?]; OverDrive Media Station, which allows users to browse their library's digital collection on touchscreen monitors and public Internet workstations; Next Generation Content Reserve, a collection-development portal; and OverDrive APIs, which allow developers to integrate OverDrive content into apps and platforms[when?]. The company also announced a partnership with LexisNexis to provide the LexisNexis Digital Library, a customized eLending platform for the legal library market.
In April 2015, Rakuten bought OverDrive for $410 million, with the deal set to close in April 2015. OverDrive CEO Steve Potash remained in his position and OverDrive kept its name while operating under Rakuten USA.[better source needed]
In 2019, it was reported that Private Equity firm KKR would be purchasing OverDrive from Rakuten. The price of the sale was not disclosed, though Rakuten said it would recognize about $365.6 million in profit from the sale in the first quarter of 2020. Potash later offered more details about the KKR acquisition in a message to Overdrive's library customers; the acquisition was finalized in June 2020.
OverDrive launched its Digital Library Reserve, a digital download platform for public libraries, in 2002. In 2004, the platform was changed into a DRM-protected audiobook download platform.[unreliable source?] In 2005, OverDrive installed download stations into public libraries and added music to its library platform.[unreliable source?] OverDrive added downloadable videos in April 2006.[unreliable source?] In 2007, the company launched its School Download Library, an eBook service for K–12 schools based on Digital Library Reserve. In March 2008, the company announced plans to provide MP3 audiobooks to public libraries as well as retailers.
Before entering the library market, OverDrive distributed eBooks to a number of e-tailers. In 2002, OverDrive was selected as the distributor of HarperCollins’ eBooks to the publisher's online retail stores. OverDrive launched web stores for Harlequin Enterprises in 2005. In 2008, OverDrive announced that it would provide download services for Borders Books.
OverDrive has entered into partnerships with technology companies including Adobe Systems, Microsoft, Mobipocket, and Nokia. In 2008, Adobe and OverDrive jointly announced that OverDrive would be the co-developer and operator of Adobe ADEPT, a hosted DRM service to protect files viewed with Adobe Digital Editions.
OverDrive's download services include several software as a service products for libraries, retailers, schools, publishers and the military, as well as web-based products for content protection and management. These include:
OverDrive holds a biennial user group meeting called Digipalooza to train and educate librarians on the download service. Held in Cleveland, Ohio, the event focuses on trends, best practices, and outreach ideas for public library download websites.
At the 2008 Public Library Association National Conference, OverDrive unveiled preliminary plans for the nationally touring Digital Bookmobile. The traveling exhibit is housed inside an 18-wheeler and visits public libraries throughout the OverDrive network. Inside the tractor-trailer, learning stations guide patrons through all aspects of their public library's download service. As of August 2012, OverDrive has hosted more than 500 Digital Bookmobile events at libraries and community centers throughout North America.[unreliable source?]
In 2011, OverDrive CEO Steve Potash made obvious hints that the Amazon Kindle would join other major eReaders in public libraries as soon as September 2011. In his "Crystal Ball Report", during the final session of OverDrive's July 2011 Digipalooza conference, he hinted at the month of release. On September 21, 2011, OverDrive began supporting Kindle public library book borrowing.
On September 18, 2014, OverDrive debuted International "Read an Ebook" Day, "an annual holiday to celebrate and raise awareness for reading on digital devices". Leading up to and on that day, OverDrive encouraged "readers around the world" to participate "by choosing from millions of free eBooks from their local library or purchasing an eBook from a retailer online". Additionally, throughout the day, OverDrive celebrated "the holiday by giving away tablets and devices every hour on the event website (www.readanebookday.com) and through social media to readers who tell their story of what eBooks mean to them, by using the hashtag #eBookDay on Facebook or Twitter to tell their story, or commenting directly at the event website.
OverDrive is criticized for relying on digital rights management (DRM) protection technology from Microsoft for the bulk of its audiobooks. Microsoft's refusal to update its Macintosh versions of Windows Media Player to accommodate the requisite encryption scheme disqualifies Apple computer users from accessing the bulk of OverDrive's audio files, which are formatted as DRM Windows Media Audio (WMA).
In March 2008, OverDrive announced that it would distribute a collection of approximately 3,000 audiobooks in the MP3 format, which is more widely compatible. On November 19, 2008, OverDrive also released the OverDrive Media Console for Mac, which allows Mac owners to download and listen to MP3 audiobooks from their library on a home computer. OverDrive's streaming audiobook option—scheduled for release in 2012—will enable Mac users to access many audiobooks that were previously unavailable due to WMA compatibility issues. [unreliable source?]
In January 2009, OverDrive informed Fictionwise that it would no longer be providing downloads for purchasers of e-books through Fictionwise as of January 31, 2009; no reason was provided to Fictionwise as to why it was being shut down. This prevents previous purchasers from being able to renew their books on new devices. Fictionwise was working to provide replacement ebooks for its customers in alternative, non-DRM-protected formats, but did not have the rights to provide all of the books in different formats.
Categories: Retail companies of the United States | Software companies based in Ohio | Companies based in Cleveland | Organizations established in 1986 | Commercial digital libraries | 1986 establishments in Ohio | Library resources | Book selling websites | E-book suppliers | E-book sources | Rakuten | American digital libraries | Mass media companies | Software companies of the United States | Software companies established in 1986 | Retail companies established in 1986 | Companies established in 1986