Crowd-funded publisher Inkshares announced significant changes to its platform in an effort to publish more books and grow the company at a faster rate. Changes consist of a new funding goal structure and a refined credit system.
The new structure will implement changes on October 30th, and.clients who are already funding a project with the company have the option to stick with the previous structure. All other projects, though, will automatically convert to the new model.
Changes in structure include replacing funding goals for copies pre-ordered over the previous dollar requests. A limit was also set on the number of copies an individual could buy with the pre-order price per copy being set at $10, which will cover ebook production and provide a discount on print books.
After consultation with various authors, Inkshares decided to implement the following changes: the ebook-only tier will be removed; every author who hits the new pre-order goal will receive a trip to San Francisco to sign copies for backers; pre-order prices for trade paperbacks will be set at $20, trade hardcover at $30, children’s books at $30, and graphic books at $50; the new pre-order goal will be 750 copies for all books; a $15 fee for international shipment will be charged while domestic shipping will remain free.
In an effort to help authors who cannot reach 750 pre-orders, the company is offering a new, dual funding tier that will allow pre-orders that reach the 250 mark to qualify for “light-publishing.” This option will allow books to receive a light edit, an ISBN and limited distribution.
Credit system changes will be implemented immediately with the following changes: $5 for any new reader to Inkshares, $5 for any reader’s first review of a project, $10 for any referral of a project that leads to a purchase with a cap of one redemption, and $10 for backing any project that hits 2,000 copies ordered as well as $10 if the project hits 5,000 copies ordered.
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