Crowdfunding: what is it? Crowdfunding is a collection system through which interested parties, backers, can fund different projects. Examples of popular crowdfunding platforms are Kickstarter, Indiegogo, and Pozible.
So why crowdfunding? Crowdfunding has had a significant impact on the publishing industry, particularly in respect to self-published authors and small or niche presses. Basically, it’s made it possible for self-published authors to fund and create higher quality books without having recourse to traditional publishing. Crowdfunding has also lead to the development of “hybrid authors”, writers who publish both with traditional publishing and self-publishing. Small and niche publishers have also benefited from crowdfunding campaigns; the freedom and stability provided by crowdfunding has enabled smaller publishers to undertake riskier projects. Additional publishing models are also emerging with crowdfunding: publishers like Unbound combine the use of agents, the quality and expertise of traditional publishers, and the input of readers to create new books.
This blog will focus primarily on the indie and small press side of crowdfunding, but I’ll address other relevant material as well.