 So we're here at Mobile Wall Congress and who are you? Hi, I'm Simon, I'm the co-founder of BookMate and I'm going to show you a quick overview of how BookMate works on the Yota phone. So we saw Yota phone, we got pretty inspired by it. It's the first phone where you can push all of your reading activity to a second screen and the screen on the back. So you did an app here, Android? Yeah, we developed a native app for an Android app to optimize the Yota phone's second screen. So here you can see BookMate, you see a book here. You click on the book, open it, you get text, clearly you read here. You can flip it to the back screen and here you can continue your reading in a much more comfortable way with the E-Ink screen that they have on the back. So how long battery there? This gives you like 50 hours of reading, but the best thing about it is basically you don't get interrupted. So you have your book open on the back, then you continue with your other applications on the front screen and it's a really natural way to read. That's awesome, so BookMate? BookMate, yeah. Can you describe BookMate? What do you do with BookMate? So BookMate is a subscription reading platform, it works on pretty much all devices. Currently we're in two markets, we're in Russia, we've just launched in Turkey and we're rolling out to ten other markets this year. We think the subscription reading is basically the way that people want to be able to read. So you pay like a flat fee, it's between $5 and $10 a month depending on the market. And for that you get basically access to all the contemporary reading that you want. And this is the model that is the one? We don't want to have per book. We think it is. I mean people, when you remove all the friction, so you pay like, you paid your monthly subscription, you start reading, people, the way they read changes quite radically. So people have many books open at the same time because you don't have to make a decision, do I actually want to pay for this book before I start to read it? So people dip in, we have customizable bookshelves, you build your library online, you have it up there in the cloud and it's basically there forever. So it's a much more emotionally engaged way to come into reading. The whole discovery side of it, you can browse books of other people's shelves, you pull them off the shelf, add them to your shelf and it's just a very natural way to read. So basically unlimited reading. It's unlimited reading. There's no like premium content at all. No. All of it is there. So it's pretty much all there. I mean we're adding, currently we've got about 90% of all the books in Russian. We're adding to our English language catalog pretty actively at the moment. Currently we have about 20,000 books and we're adding about publisher a week at the moment. So pretty optimistic by the end of the year. And each publisher has hundreds or maybe thousands of books. Yeah, I mean it depends on the territories. I mean in the US publishers are very reluctant to move to a subscription model at the moment. They're pretty comfortable with paper download and a lot of people there are actually paying to download books. So it's a model that they're not really willing to disrupt just yet. But for other markets, particularly emerging markets where there's a lot of pirate content, it makes a lot of sense for publishers to work this way. Plus the amount of data that you get. I mean if you're just selling a single copy of a book, that relationship is tied to a single transaction. With a simple subscription, you understand every time somebody's opened the book, where they are, what device they're reading on, what kind of social interaction they're making around the book as they read it. So it's a much richer experience from the point of view of the publisher too. So it's like the iTunes model is being replaced by the Spotify model. And that's kind of like what needs to happen now. The Kindle model needs to be replaced by BookMate. I think so. I mean it's happened in music. It's happened with film. And it's going to happen pretty quickly now with books. There are a few services that are popping up. We're pretty advanced with it. We've been in the market already for three years. And we're moving fast. Moving fast? And the 10 markets, do you say anything about which one those are? Well, they're all emerging markets. Plus we have one test market in Scandinavia. Scandinavia is a pretty early adopter when it comes to subscription. So we're optimistic about our chances there. Which Scandinavian market? We're looking... Secret? It's a secret at the moment. I hope it's Denmark. You'll be the first to know. So it can't just be worldwide. The rights are limited. It's not as limited as with music. But yeah, it's kind of market by market. The way that you look to come into a market with subscription, it gives you a lot more opportunities for monetization. Because you can go B2C. But you can also bundle with a mobile operator. So you can go with an M&O, B2B2C, and work with them to give a value-added experience to their client base and actually to bring the recurring billing experience into our application. What I think would be nice maybe is to get all the news and go to blogs maybe and all that stuff. Are you thinking about that or are there only books? No, no, just books. You don't want to do newspapers or all that stuff? We're focused really on the reading experience on literature. And literature works particularly when you're working across all devices and you need to scale text to a particular screen size. Then it's easier when you're sticking to literature. So we're focusing on doing one thing and doing it better than anyone else. Do you think there's any chance this year or next year there's all of Europe and the US market and all that? I don't think this year. I think it will be slower. Europe and the US will be slower to develop. But I think within the next two to three years we'll start to see some valid subscription services getting tracked.