Newspost: Serials 2.0 – Evolving business models

Figment gets bought out by a”Traditional publisher”

One of the things that is inherent to the internet is that nothing every stays static.

Crowdfunding was the big news for a while . Last week, C.A. Sanders broke the news about donation buttons on Jukepop.   I thought that would be fairly hard to trump as October’s story. However  this morning I opened up my email and found an email from Figment.com.  I’m not active on Figment simply because Wattpad sucked me in first for mirroring my story. However, it’s a very tight community/reading site targeting a mostly young female audience.  The startling surprise is that their notice that they had been acquired by Random House.

Not much appears on their site (except this blog post here)  but GigaOm has  offered details that were lacking on their email notice.   Figment absorbed Inkpop previously and has a few hundred thousand accounts in their portfolio. Likely this is the real reason RH wanted Figment.  I suspect Figment will become a testing ground for YA promotions as well as a possible source for new stories.

That said, most serial writers in the wild aren’t writing YA.

Nor do I think it’s easy to get those who read YA to go from enjoying free content and promotions to becoming true supporters/customers. Wattpad’s early showings for its pilot fanfunding projects has been really tepid when it comes to converting readers to pledgers.  I still think there’s something to be explored there had they had more older readers involved with the entire project.

Eat Your Serial is now Maglomaniac

Sometime in the last few months “Eat Your Serial” formally folded into Maglomaniac . Eat Your Serial, for those with short memories or new to the serial game, was one of several successfully funded Kickstarted “serial” projects. Maglomaniac’s latest efforts on Twitter and the web have focused on the new author promotion/fan interaction platform “Feed my reads” and blogs focusing on lifestyle and pop culture.   More insight into their new mission can be garnered from viewing their Indiegogo “pitch.”

Per their copy: “Maglomaniac is simply the best web magazine there is. With passionate, talented, and interesting staff and writers, we are confident that we’ve got what it takes to be the next big thing on the internet. Between our website’s magazine content with a variety of features, daily posts, and original novels that span wide interest areas we know that there’s something for you at Maglomaniac.com, but what we need is some help funding an expansion of our current operation. “

While Maglomaniac still mentions that it will host the Eat Your Serial books, I find it interesting that they now only solicit complete works.  Hm.  (That to me makes it less distinctive than the other options out there.) We’ll have to see what/how/how this evolution into a “content platform” works as what made their predecessor unique now makes them no different really other than this hybrid author-services platform.

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4 thoughts on “Newspost: Serials 2.0 – Evolving business models”

  1. Hey Brandon from Maglomaniac/Eat Your Serial here,

    Thanks for giving some coverage to our recent change! It is really appreciated. I’d just like to take a second to make a point of clarification–we’re soliciting full novels for weekly serialization. In the past we were accepting several chapters and beginning relationships, however some of these relationships did not produce a finished book for a variety of reasons. Maglomaniac is just as committed to serialized novels through our Eat Your Serial imprint as it ever was–as one of the people who helped start Eat Your Serial I would never stray from our core ideals of serialization and writer control and ownership. We have shifted our focus to pushing one book at a time on Thursdays along with a great variety of other content. We just finished a title that is now getting ready to go to print and go for sale in print and e-book formats.

    Thanks again, and keep checking back! We have new content everyday and a new novel starting soon!

  2. I wonder if the serials that become published by big publishing houses have to stop their serial. This is something I’ve been thinking about a lot, now that the new “Watchmage” novel is almost done.

    1. In SU Pacat’s case -(“Captive Prince”) yes. She pulled her entire livejournal down but left all comments for her various volumes intact. She gave everyone fair warning though… and honestly most of her readers should have gone ahead and bought either her self-pub ebook or the official ebook/paperbacks IMHO. She wrote that novel series for ten years for free and generally asked for nothing…. so… I don’t see much grumbling or push back with that decision. .

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