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.
Other news round-up
- Dianne Greenlay talks about her successes with Wattpad in finding an audience for her Young Adult Book. Of the many authors who jump into this program, this is one of the few posts where I’ve seen an author be able to make a decent argument for her free book on Wattpad selling other books. This isn’t altogether different from the same tactic on Amazon (Kindle) or other sellers, but it’s a rarer tale of success with the youth-oriented Wattpad.
- Panget, a young writer from the Philippines gets scouted on Wattpad and goes on to becoming a national bestseller.
- Wattpad introduces a book widget. If you are using this, let us know. I would love to see it in the wild!
- Blastmagazine experiments with serials as part of standard content
- Beth Raymond guest blogs on Tuesdayserial on what she’d do the next time around. This is a great idea perhaps worth stealing for a future blogpost
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