Crowdfunding helps authors get published(2)

Crowdfunding makes it easier for would-be authors to raise money and get their books published.

Recently, a book named Crowdfunding: The Revolution and Innovation of Traditional Funding, published by China Machine Press, received wide attention.

The book, written by three Internet observers and Internet company executives, discusses the history of crowdfunding in both China and abroad, as well as describing classic crowdfunding cases and how to do it successfully yourself.

Significantly, the book itself is a result of crowdfunding.

In April, the publisher set up a fundraising page at Zhongchou.com, and offered to provide various rewards, including the final books and a membership that gives holders access to resources of the publishing house, according to different amounts of money backers pledge, which can range from a single yuan to thousands.

In two weeks, the publisher earned more than 80,000 yuan, meeting its financial goal and generating news coverage with its success.

Li Xin, an editor with Chemical Industry Press who has overseen the company's book crowdfunding projects, says that for publishers, the promotion effect is "way more important" than the cash crowdfunding can generate.

Li Yaohui, an executive with the crowdfunding website, agrees.

In mid-2013, he suddenly noticed that nearly all of his friends on WeChat, a popular instant-messaging service in China, were talking and posting about a book titled The Benefits of Social Network, which talks about the online networking.

At that time, few people had heard about crowdfunding, and the book was among the very first crowdfunding programs, to raise 100,000 yuan.

The author offered backers signed books and an opportunity to have afternoon tea with him.

The book and his author soon made news headlines and became famous even before it was published. In two weeks, the book got 3,300 pre-orders.

Within a month after publication, the book sold 100,000 copies.

Besides being a promotional tool, Li Yaohui concludes, crowdfunding can also help book producers to better understand potential readers, and to predict the market response.

"It is very useful for a publisher if there is a way to better know how many copies a book should be published on first round of print," Li Yaohui says.

"Crowdfunding certainly can help with that."

Meanwhile Li Yang, the college student, is still waiting for his dream to come true with the help of crowdfunding website users.