It appears Amazon has stolen the march on competitors by announcing plans to launch a crowd-sourced publishing program that will see participating authors receive US$1500 plus 50% royalties on net eBook revenues.
The revolutionary publishing progam comes hot on the heels of Amazon’s Kindle Unlimited (KU) initiative, which offers KU subscribers unlimited eBook borrows and which is predicted to further change the publishing landscape – and change it dramatically – if it hasn’t already.
While crowd-sourcing may not be new (feature films have been crowdsource-funded with much hoopla and fanfare) it’s a fairly new phenomenon in the publishing game. Certainly, other publishers have tried it – two others if our sources are correct – but there’s no doubt Amazon’s crowd-source funding will be highly visible. And, if our experience with the publishing giant is anything to go by, it will be highly successful.
The Digital Reader had the best summary of the new…
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