This isn’t really a question for Ashleigh per se, but considering how writers are such a tiny percentage of the users of Wattpad, and then again how tiny the percentage of writers will be published, I’m would like to know how much focus in terms of budget, promotion and manpower Wattpad is putting into this publishing route, in comparison to site and app development?
Additionally, I’m interested to know if Studios and publishing is it’s own standalone department/company? ie,Does the rest of Wattpad fund it at present, or, if it is turning a profit, do those funds remain within studios or is it used to fund other parts of the business that are a loss (if there are any). Just asking out of pure curiosity, 'cos I’m nerdy like that Totes understand if you don’t answer it on privacy grounds or whatevs
At the moment, my understanding is that Wattpad feels it has a minefield of books and stories at it’s fingertips, that with the right data-mining algorithms and experienced readers, they can sift to the top content that has a good chance at being successfully represented to established publishing houses or production companies. So, instead of being a literary agent that waits for submissions, you find them yourself. Capitalising on this makes great business sense, since I’m guessing there’s more money in movies than in premium subscriptions and ad revenue. Am I correct in this assumption?
Now, I’m a company accountant, and I’m alllllllllllll for maximising profit, so don’t get me wrong, I’m totally on board with this venture. Totes am. Personally, I don’t care one bit about how you select the books, or what it takes to be selected in the Stars or Talent or whatever program, since I write as a hobby, not a career. I’m just a little concerned as to whether or not this will detract from the focus on the readers? I know the readers don’t really generate any income themselves, but they are our biggest ‘customer’. And when they are still unable to have decent search and filter functions, can’t arrange their private library and other basic tasks, I’m wondering if this is on Wattpad’s radar, and if there’s been any talk about what can be done to ensure that Readers are won’t get lost in the hype of Studios.
Again, I say all of this with no shade at all. I genuinely love Wattpad and want to promote it and see the site, and all the users singing praises all day long