Paid Stories Update ft Nick


#144

Earlier applications made before changes still count for consideration?


#145

I think this may be an idea to look into. I do like the idea of writers being able to make money off of this for sure though. Since I’ve joined in 2014, I have been wondering when this sort of change would happen on wattpad. I also remember though, when I was younger my parents would never let me pay for anything like this; they’d just tell me to go to library. :joy:


#146

Opens mouth then closes Darn it! Although I brought a :cow2: instead :joy:


#147

Okay. That’s good to know. Makes not to self to avoid controversial threads for the next month or two. XD


#148

I’ve looked at the reader’s page and the writer’s— not much real info. Here’s a screenshot from the reader’s page:

paid

The more coins one buys at a time the lower the rate (in USD or Canadian?):

9 coins @ $0.99 = $0.11 each.

66 coins @ $2.99 = $0.0453 each.

120 coins @ $4.99 = $0.0415 each.

230 coins @ $7.99 = $0.0347 each.

Didn’t see anything on the rate of payment to writers: coins to dollars. But if the rate paid to WP decreases by the quantity purchased, how does that affect what the writer gets? Or is there a single rate for payment (and what is it?)

Most standard publishing contracts have sales threshholds: 5% up to 10,000 copies; 7.5% for 10,000 to 25,000; above 25,000, 10%. Does the WP writer’s share increase according to the number of coins/reads?

Can we get this sort of hard info (always provided in a publishing contract) without signing up?


#149

Yes, they count :slight_smile: You can read Nick’s post here-


#150

Why would the percentage for the writers be so low? 5%? Most publishers print books and hire people to advertise for them and so on. This seems more like a self-publishing set up. (If I’m wrong, someone please correct me) I don’t see as much overhead cost going into this company, at least where the books are concerned.

The percentage should favor the author. In fact, unless Wattpad is advertising these books elsewhere, and acting as agents, the authors should get the gross profit.


#151

You forgot some zeros there :thinking:

9 coins @ $0.99 = $0.11 each.

66 coins @ $2.99 = $0.0453 each.

120 coins @ $4.99 = $0.0415 each.

230 coins @ $7.99 = $0.0347 each.


#152

Thanks.


#153

I imagine due to copyright any sort of fanfic would automatically be disqualified as they cannot make money off of someone elses characters and worlds etc.


#154

You can read Nick’s post regarding fanfic here-


#155

@nick
Hello, again! :giggle:

Twice! In such close succession! This is crazy stuff!

It has been no secret that I have supported finding a way of donating on Wattpad. Many authors use Patreon, and I have always thought that it would be more beneficial to Wattpad itself (gaining a percentage of the profits) as well as authors if Wattpad had its own system and users did not have to rely on third parties. But I was wondering if Wattpad would implement Coins as a system of donation, too - not only as a way of unlocking stories.

For example, what if a reader unlocked all of the chapters of a story and simply wanted to give their author more?

This concept could possibly even reach beyond the Paid Stories program to authors all over Wattpad, allowing readers to donate to any author they love, regardless of whether or not the author has been accepted to the Paid Stories Selection. I do see a possible conflict here, though, as other authors are not contracted by Paid Stories to have their material only on Wattpad, though with this being a donation system concept, perhaps that is less of a problem.

I would love to decrease the amount Wattpad users have to rely on third parties. Just as the Paid Stories has kept authors here and maintained revenue for Wattpad, a donation system could replace Patreon and other third parties for similar results.

Food for thought?


#156

I believe something like that was already being discussed. Isn’t that essentially what others had brought up as “tipping”? Maybe I’m wrong, but I thought that was the suggestion that they were referring to as tipping.

There’s a little more reference to it in comments toward the top.


#157

Oh, that’s fantastic!

I didn’t know if the connection between Coins and a tipping system had been made yet, though. :sweat_smile:


#158

Where is the Urban Fiction? @nick

I know there is an application process put in place, but I have query about this long before that process was introduce and was told urban will be included. The second round of beta books debuted and there was no urban fiction in that line up. There are folks in the program with two books but an entire genre has yet to grace the support stories line up.


#159

@Karin had posted about coin donation a couple of months ago. Don’t know if it is still valid. You can read her post here-


#160

I’m glad to know it is already on the “proverbial table.” :giggle:

Sorry for bothering you, Nick! I am sure you have other things to worry about than repeated queries!

I’ll go read that area of the threads right now, Nablai. Thank you! :hearts:
And thank you, too @LailaLiliana! :hearts:


#161

Nope I can’t get into payment specifics, sorry. Though those publishing splits always depress me with how low they are


#162

Those kinds of numbers are pretty normal in publishing. Our split is majority to authors so they don’t look anything like that.


#163

There’s Urban Fiction in there currently, though there’s also some stories still being added. I don’t know how to count Girls Who Dreamt of Castles, that story is very unique and while it may not be classic Urban, it’s also worth looking into.