Readly has begun rolling out its all-you-can-read magazine app in the UK, after launches in the US and its home market of Sweden last year.

The app works on a similar subscription model to Spotify, charging £9.99 per month for unlimited access to magazines from partnered publishers.

Publishers will receive a proportional cut of subscription fees based on readership, and can access Readlys analytics platform to track reader activity.

“Readly offers an additional revenue stream, general profile-raising and really granular consumer insight,” said Readly UK MD Ranj Begley. “It is a win-win model for everyone. The publishers we have spoken to so far have been really excited by the service.”

But will this just cannibalise publications existing audiences? Not according to Readly, which claims that data from its Swedish launch shows there is only a two per cent overlap between its users and publishers’ customer data.

Readly is planning a global rollout across the course of 2014.