Ukrainian company Booknet is making its way to the UK with the help of Literally PR. Booknet comprises a literary social media network, self-publishing platform and a Bookscription service, and is popular in Latin America and Eastern Europe.
Booknet
The company is based on the concept of gradual ebook publication - authors share their books chapter by chapter as they write them. Readers, unified in their knowledge of not knowing how the plot will unfold, pay per ebook, typically the same price they would be charged for the full and completed story.
In Latin America, Booknet has been in operation since 2018 and has more than a million users a month. A Spanish language book typically makes more money during its 'Bookscription' phase than in the first one to two years of the book being available for sale. The company intends to change reader habits, helping them become invested in the development of a story as they consume it in short bursts.
Readers typically access multiple Bookscription stories at a time, and writers and readers can connect with each other through blogs and comment sections. Authors can monitor data around their book, such as how many regular readers they have. Commercial authors get 70% royalties on book sales.
The company founders and almost all of the team members are from Ukraine. The closest big market for the company was in Russia, where it launched in 2015, but has ceased sales in Russia and Belarus in March 2022 when war broke out. Since then, the team has focused on building Booknet and the Bookscription model in the UK, North America and other English-speaking countries.
Ceo Sergiy Grushko said: "Bookscription isn't really a new concept - serialised novels being published weekly/monthly in newspapers and journals, while readers eagerly awaited the next instalment, was commonplace decades ago. What we've done at Booknet is take the concept and monetise it in a way that benefits readers and writers., and we can't wait to see what happens next for our readers and writers."
Article Source:
https://www.bookbrunch.co.uk/page/article- detail/booknet-launches-in-uk
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