Wattpad is an leisure startup targeted on writers of authentic tales, and it’s saying the Wattpad Subsequent beta program for customers within the U.S., the place readers can assist writers with purchases of digital foreign money.
The brand new program gives a choice of unique tales for buy on the platform, permitting Wattpad readers to assist their favourite writers. A beta for Spanish-speaking areas will observe, and this system might be out there globally on a number of platforms in 2019.
Wattpad Subsequent will open unique tales to the corporate’s 13 million month-to-month U.S. customers. Whereas the Wattpad Subsequent (beta) program provides a choice of unique paid content material to the platform, a whole lot of hundreds of thousands of Wattpad tales stay free for readers.
Wattpad rolled out early testing for Wattpad Subsequent (beta) in October in Canada, Nice Britain, Mexico, and the Philippines.
“Wattpad customers around the globe have overwhelmingly embraced the prospect to assist their favourite writers by the Wattpad Subsequent (beta) program,” stated Allen Lau, CEO of Wattpad, in a press release. “This program is a part of our dedication to serving to writers earn cash from their tales, monetizing tales each on and off of Wattpad.”
He added, “Together with alternatives to attach with manufacturers, and work with Wattpad Studios to show their tales into books, TV reveals, movies, and digital initiatives, writers can now earn a living immediately from the followers which have supported them since their first web page. The beta part of Wattpad Subsequent is only the start, as we have a look at new methods to assist assist Wattpad writers around the globe.”
Wattpad Subsequent (beta) tales can be found for buy utilizing the corporate’s new digital foreign money, referred to as Cash. U.S. Wattpad customers can now buy collaborating Wattpad Subsequent (beta) tales by chapter or, for completed works, as a whole story. A spread of Coin packs can be found, from 99 cents to $8.
There are 50 unique tales out there in this system, although the corporate plans so as to add a brand new spherical of writers and tales in early 2019. Wattpad Subsequent (beta) is at the moment an invitation-only program for writers.
Wattpad Subsequent is the corporate’s newest transfer in its plan to monetize content material each on and off of the platform, whereas additionally incomes cash for storytellers. In October 2017, Wattpad launched Wattpad Premium, its first-ever subscription tier. Wattpad Premium permits customers to unlock an ad-free expertise.
Past Wattpad Subsequent, Wattpad additionally helps writers monetize their work with Wattpad Model Partnerships and Wattpad Studios, the place Wattpad tales are tailored for different mediums. Around the globe, practically a thousand Wattpad tales have been revealed as books, or became TV reveals, movies and digital media initiatives.
Globally, Toronto-based Wattpad has 70 million month-to-month customers. In January of this yr, Wattpad raised $51 million in new funding from Tencent Holdings and different worldwide buyers.