Crowdpublishing platforms are revolutionizing the international publishing landscape, enjoying enormous success and radically changing the book publishing system.
Thanks to their visibility, crowdpublishing sites allow a debut author to seek funding for their publishing project, creating a community of loyal readers. Furthermore, some of these authors offer the opportunity to write a book based on audience feedback, involving them from the earliest stages of the creative process.
In this article, we’ll explore what crowdpublishing is, the pros and cons of this system, and the main platforms writers can use to fund their book.
What is crowdpublishing and how does it work?
The term crowdpublishing comes from the combination of the English words crowdfunding and publishing, and refers to a collaborative model that allows authors to finance the publication of their works through direct support from readers (publishing microfinancing). In practice, platforms such as Unbound and Inkshares allow you to present a publishing idea to the public for free and collect contributions from people interested in reserving a copy of the book. Once the pre-established financial goal is reached, the book can be published, with a group of people already willing to purchase it. The mechanism is very simple and is divided into the following steps:
1.Proposal
The author submits their work, including a synopsis and a draft of the chapters. In some cases, an evaluation team within the platform decides in advance whether or not to proceed with the crowdfunding campaign. In other cases, the writer can present their idea directly to the public.
2. Launching the campaign
The author promotes the crowdfunding campaign through word of mouth and social media, inviting friends and followers to pre-order the book.
3.Objective achieved
If a minimum reservation threshold is reached, the funds raised are used to cover the printing, distribution, and promotional costs of the book. In certain cases, the crowdpublishing platform will handle all phases of the publication: proofreading, graphic design, printing, distribution, and marketing.
4. Publication and delivery
The book is published and sent to all funders, usually before it reaches bookstores. In return for their support, funders receive exclusive content or benefits, such as the opportunity to participate in events and experiences with the authors. Often, the names of several funders are printed on the back of the book as a token of gratitude to those who made its publication possible.
Let’s now look at the main advantages and disadvantages of crowdpublishing, both for writers and book lovers.
Pros and cons of crowdpublishing for writers
This system eliminates barriers between authors and readers, creating a direct channel of communication with the public. A writer who hasn’t caught the attention of traditional publishers and doesn’t have sufficient funds to finance their book can turn to the communities on these platforms to seek financial support.
Financial sustainability
Crowdpublishing eliminates the financial risks associated with publishing a book, as the necessary funds are raised in advance. This way, neither writers nor publishers need to advance money for works that, once published, may not be successful. If a crowdpublishing campaign reaches its target, it means there is a group of readers who will buy the book, ensuring profits for both the author and the publisher.
Product quality
Unlike self-publishing, where an author must handle all the steps leading up to and following the publication of a book, crowdpublishing sites take care of every aspect, from editing to graphic design, ensuring the quality of the published product. The funds raised are used to cover the various stages required to transform a manuscript into a successful book.
Creative independence
Free from the limitations and demands of traditional publishers, authors can create content based on their inspiration and creativity.
Immediate feedback
Crowdpublishing platforms foster a direct connection between authors and readers, eliminating intermediaries. This way, writers can see if there’s a real interest in their work even before writing it. At the same time, they can ask users to try developing the plot or specific passages in order to improve the quality of the manuscript and make it more suitable for the public.
Creating a community
Each project helps create a community of loyal followers, willing to promote the book even after its publication through word of mouth or sharing it on social channels. This way, a new writer can build a loyal following of readers who will help them make their way in the publishing industry.
Promotion and distribution
While self-publishing can be very difficult to get a book onto bookshelves, crowdpublishing offers access to a promotion and distribution service in both physical and online stores. This aspect must be carefully considered if you want to make a good profit from sales.
The potential disadvantages of crowdpublishing are closely related to how these platforms operate. In fact, the success or failure of a campaign is predominantly the author’s responsibility. This means they will need to promote the project among their circle of acquaintances or through social media, building—if they don’t already have one—a network of followers willing to fund their work. This requires a willingness to put themselves out there personally and good communication skills to effectively promote the book.
Pros and cons of crowdpublishing for readers
In fact, the pre-order system shifts the decision-making process from the publisher to the readers, allowing them to support works they believe in. By overcoming the barriers to entry and long waiting times typical of the traditional publishing industry, crowdpublishing makes it possible to read books that address specific or unconventional themes. This fosters greater cultural diversity and allows the public to help bring innovative ideas and original stories to market.
Another interesting aspect is the opportunity to actively participate in the creation of a book from the very first drafts. Through the collaborative model offered by platforms like Inkshares, it’s possible to provide ideas and suggestions to writers, making their own contribution to the development of the manuscript. Finally, thanks to crowdpublishing, funders of a work can access limited editions, events, or extra content reserved for them, enriching their reading experience. In conclusion, this new form of publishing presents no particular disadvantages for book lovers.
The main international crowdpublishing platforms
Unbound is a London-based crowdpublishing platform that offers a complete service, from editing to bookstore distribution. Agents and writers can submit their proposals to the committee, which evaluates which projects they can undertake. Once the necessary funding has been secured, the team of editors and creatives helps the author develop the work for publication. Finally, the public relations and sales staff ensure the book is distributed and promoted appropriately to reach the widest possible audience in both physical and online stores.
Unbound allows you to submit a synopsis and then develop the plot only after reaching the minimum number of pre-orders, or submit a work already ready for publication. In addition to receiving the book they’ve funded and seeing their name printed on the back cover, funders can participate in in-person events hosted by the writers themselves.
The American website Inkshares works very similarly, except that writers can ask users to help them improve a book draft. Once the work is completed, they begin collecting online pre-orders and, if they reach the minimum threshold, can publish it with the support of the Inkshares team. The platform pays authors 35% of net revenue —that is, gross income minus production and distribution costs.
Kickstarter also offers the possibility of creating a crowdfunding campaign for a publishing project, offering various rewards to funders. However, unlike the other two platforms, Kickstarter does not provide publishing, promotion, or distribution services, so once funding is received, the author must independently manage the steps leading up to and following the book’s release. If a project is successfully funded, the platform applies a 5% commission on the funds raised. However, if the funding goal is not reached, no fees will be charged.
Crowdpublishing is a model that is revolutionizing the system by which books are selected, financed, and published. This method creates new opportunities both for writers, offering them greater chances of seeing their work on bookstore shelves, and for readers, offering the opportunity to support and contribute to the creation of their favorite novel or essay. Time, then, will tell how new and traditional publishing approaches can coexist in a landscape subject to such profound and sudden changes.
