Crowdfunding: A Viable Option for Self-Published Authors? [Part Two]

As discussed in Part One of this blog series, crowdfunding has recently exploded as a means for many authors—self-published, hybrid or traditional—to raise money for their creative projects. Besides some of the mainstays that have been around for a while, namely Kickstarter and Indiegogo, in recent years several literature-specific crowdfunding platforms have popped up, meant solely to support book publications in their various forms. Below are some of Midnight Publishing’s favorites to explore:

Pubslush

This company began in 2012 by a mother-and-daughter duo who felt that the publishing industry was, for many, too difficult to break into. By offering several services ranging from crowdfunding to facilitating a pre-order campaign, this site can assist authors in successfully funding and marketing a book launch (they even analyze important reader data for a better outreach strategy). You keep all rights to your book, and the site offers flexible funding: campaigners are allowed to set minimum and maximum payment goals, and even if they don’t reach their maximum, they can keep what’s been allotted (as long as it’s $500 or more). Various fees from Pubslush and credit card transaction fees are taken out of received funds before they’re transferred. Campaigners must offer rewards for backers, and Pubslush has a philanthropic side: they promise to provide a book to children in underprivileged areas for every book that’s sold through their site.

Patreon

This “subscription” site was founded in 2013 by musician Jack Conte and developer Sam Yam as a way to regularly support artists. Instead of “one time” campaigns that can be a lot of work for creators, Patreon allows its creators to set up profiles in which supporters can pledge to donate a certain amount every time they release their art (or monthly). Kickstarter phenomenon Amanda Palmer now utilizes Patreon, and her posted payout per “thing” she releases is approximately $36,000. Patrons can pledge a variety of amounts ranging from $1+ a month/“thing” to more than $1,000 per month, and Patreon takes a 5% commission (with additional credit card fees ranging from 2-4%). The most popular utilizers of the site so far are YouTube video creators, web comic writers and authors, but a variety of different projects are encouraged to sign up.