Self-publishing News: The Sale of Wattpad

In this weeks Self-Publishing News Unique, ALLi News Editor Dan Holloway takes a close look at the sale of Wattpad to Naver, Audibles small motion on returns policy, and Rolling Stones vanity publishing.

ALLis News Editor Dan Holloway

Tonights #indieauthorchat on Twitter gets meta as Tim asks us: how should authors use Twitter? You can discover the records of last weeks chat on the topic of “going large” here.

Wattpad Sold to Naver

Publishing Perspectives has an actually great interview with Wattpads CEO, Allen Lau. The reality they dont pay upfront does not indicate Wattpads readers arent actually engaged. They are likewise ready to pay, and with over 1500 books, films, and TV series produced from the website, Wattpad have ways of monetising that engagement.

It appears as though we have had some news about the sale of Wattpad each week so far this year. Now the ink has actually had a chance to dry correctly, we can take a more detailed look at the actual deal. The Korean media company Naver will be paying $600million for Wattpad. To name a few things, Naver releases digital comics through the platform Webtoon. In some cases, when I report on the news, I am interested in the stories I discuss. Often (see Audiblegate) I am frustrated, even upset. And in some cases, Im just passing things along. However occasionally I get really excited. This is absolutely one of those times.

What Wattpad have always been really great at is the end to end process of developing new worlds. Wattpad takes creatives from that most nascent stage right through to making films based on released books.

Audible Offers Some Transparency over Returns

There are two changes coming. From March, returns will be listed on a new control panel. Previously, only net sales have been listed, making it impossible for rights holders to get information on how terribly affected they have actually been by returns. And second, content developers will be able to transition from unique to non-exclusive terms after 90 days. These two steps, take together, must enable more autonomy over the method creatives work.

The news moves quickly right now. And no story makes that clearer than the ongoing saga of Audible/ACX. It seems like an age ago that this was the story we could not get away from. It was, naturally, simply a few weeks. In that time, the “Fair Deal for Authors and Rights Holders” group has actually maintained the pressure. This week, there has actually been motion from Audible, as Nate reported over at The Digital Reader. The statement of increased transparency over returns includes an intriguing header from ACX. Its creatives who use ACX to send product to Audible who have actually been having problems. Now, ACX say “weve heard your feedback.” OK, however have they listened?

This is a long way from meeting the needs that rights holders are making. And no idea of compensation for lost royalties from returns that Audible may have been encouraging.

Vanity Publishing is Alive and Well at Rolling Stone

Some people still associated self-publishing with vanity publishing. Now it seems one of the worlds most well-regarded publications has combined these two components in a startlingly crass way. Rolling Stone is offering locations to writers on its Culture Council.

Book Sales or Book Shops: Who Actually Succeeded in 2020?

And it turned out that the development of the news story itself was a microcosm of the entire story thats unfolded this year. Sales of print books did actually well last year. And even where they were, its not clear how lots of sales went to indies, and how lots of to chains.

What does the sale of Wattpad suggest? And other leading #selfpub newspaper article for #indieauthors, in one quick read, by #ALLi News Editor Dan Holloway @agnieszkasshoes #digitaleconomy #publishingopenup Click To Tweet

Upcoming Conferences and Events

Assist us fill this with excellent online events in the coming months and weeks.

Bay Area Independent Publishers Association (BAIPA)– Zoom meetings the 2nd Saturday of monthly

Over to You

It appears as though we have had some news about the sale of Wattpad every week so far this year. In some cases, when I report on the news, I am interested in the stories I write about. Wattpad takes creatives from that most nascent phase right through to making films based on released books. The news moves quickly right now. And it turned out that the development of the news story itself was a microcosm of the whole story thats unfolded this year.

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