Inkshares, a platform that bills itself as a crowdfunded publisher, is seeking authors to create and promote new works for community feedback. Unlike similar social platforms for writers like Wattpad, Inkshares also offers publishing services. The platform is also inviting independent bookstores to get behind titles they believe in in a new way.
Writers must submit an idea, then follow through on it by uploading a draft of the work onto the site for feedback from the community. If 750 people pre-order it, Inkshares will publish it as an e-book; if 1000 pre-orders come through, the work will be published in print and distributed in stores. “We’ll edit, design, print, distribute, and market your book. You’ll make 50% of gross revenue for each printed book we sell, and 70% for each ebook,” copy on the website explains.
According to author Alan Jacobson, “Typically, an author can expect to receive the following royalties: Hardback edition: 10% of the retail price on the first 5,000 copies; 12.5% for the next 5,000 copies sold, then 15% for all further copies sold. Paperback: 8% of retail price on the first 150,000 copies sold, then 10% thereafter. Exceptions…include sales to warehouse clubs (like Costco or Sam’s Club), book clubs, and special orders; the royalty percentages for these can be half the figures listed above. …eBook royalties through traditional New York publishers are 25%.” Self-publisher Mill City Press claims authors receive 10-30% of royalties from most self-publishing services.
Through Inkshares’ “Collections” program, independent bookstores can function as imprints. First, they have to seek an author’s permission to publish and promote his/her title, and can “choose to take a share of author royalties”, presumably, on top of revenue from books sold, according to terms explained on Inkshares.com.
Publishers Weekly reports, “Inkshares has published nine books to date, and has another 46 that have reached their funding goals. …It recently joined the American Booksellers Association and will be including its first book in an ABA white box this summer, Gary Whitta’s debut novel Abomination (July), which received a starred review in PW.”
If you have personal experience with Inkshares, please share.