Toronto-based storytelling platform Wattpad is replacing its Paid Stories by introducing a freemium model known as Wattpad Originals.
With this new offering, Wattpad offers dual advantages to authors: the opportunity for monetisation and the expansion of their readership among non-paying consumers.
Wattpad Originals operates as an exclusive enclave, accessible only by invitation. Within this elite realm, content is curated by editorial experts who rely on reader engagement metrics to identify top-tier works. Authors will have the flexibility to conceal select chapters behind a paywall, all while providing readers access to the complimentary content, enabling them to sample the narrative before making a financial commitment.
In a show of support, readers can unlock chapters using virtual coins, with costs aligned with word count, or opt for a Wattpad Premium + subscription, priced at $7.49 per month. Additionally, readers can exercise patience and wait for a week until the chapters in question become freely accessible — for instance, the addition of a new chapter results in the preceding one for unrestricted access.
Wattpad underscores that the paywall’s ambit remains confined, as only the first ten chapters will remain behind the paywall. For Wattpad Originals with multiple parts, the previous season will become free, or at least 10 parts will be paywalled.
“It was harder for a story to go viral or suddenly pick up new readers at the same rate as a free story. So, for some authors, the program created a difficult choice between quickly growing the readership for a free story or monetizing and accepting the potential of slower audience growth.” Nick Uskoski, head of content and creator development at Wattpad, told TechCrunch.
Upon its debut, Wattpad Originals will feature over 1,600 literary creations.
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