SINGAPORE, March 14, 2019 — Stary, along with its online publishing platform Dreame, provider of practical solutions to help writers achieve content monetization, recently launched its new payment and clearing system. The new system will facilitate writers getting their E-book shares by shortening the payment cycle from 30 days to 14 days and by clearly showing writers their shares of the books they have published on Dreame. This enhances current management and operation policies and provides a new way for writers to monetize content.
Dreame aims to provide a new way for writers to monetize their books and strives to build a community where novel lovers can write, read and share great content. Users can upload their work for free, and if a book is recognized by Dreame’s editors and liked by readers on the platform, it will be offered a contract, including writing funds, among other perks. At the same time, for writers whose books have been listed in the “Pay-to-read” program, which enables readers to directly support their favorite writers by purchasing coins (a virtual currency on Dreame) to unlock the stories, there is further revenue generated.
Dreame welcomes not only experienced writers, but also those who are just starting out in the writing industry. With the recommendation engine applied on the platform, books featured on the website and App’s homepage are automatically listed based on the number of readers’ ‘likes’ they have. This gives writers, new or established, the opportunity to grow, to get followers and to earn revenue, as long as their stories are liked and supported by fans.
In 2018, more than a quarter of writers on Dreame were able to earn revenue by publishing their work on it. With a werewolf themed book, an 18–year–old writer from the United States managed to earn a share of more than 10,000 US dollars on Dreame after only two months of having published her book.
Apart from the organic traffic generated on Dreame, Stary also has a large digital marketing budget for writers and their books. In 2018, Stary invested 1.5 million dollars in online advertising. As a result, there were over 67 thousand downloads by the end of last year. Such investment is expected to grow to over 12 million dollars in 2019. Meanwhile, Dreame has already worked closely with dozens of influencers, including Youtubers and bloggers, and plans to collaborate with a further 200 influencers this year.
Stary also attended this year’s London Book Fair held on the 12th of March, where it sought to increase its cooperation with publishers, the results of which will soon be released.
“We are glad to see that a number of talented writers and their books are being generously rewarded on our platform. As a newly-established online platform, it is normal for some people to question our business model. We admit that there are still improvements to be made, but our aim remains to help writers at different stages of their journey by providing a new way to monetize their creative writing. If there is no profit to be generated, the industry simply cannot grow. We are proud to play a role in shaping a favorable environment for online publishing. And we will do our best to make the industry more dynamic,” Samuel Law, Stary CEO.
About Stary and Dreame
STARY is a private equity firm based in Singapore, a holding company for a fiction reading mobile app: Dreame. It strives to build an online platform where information technologies are applied to enable novel lovers to write, read and share great content and provide practical solutions to help business partners and writers achieve content monetization. After preparatory work started in 2016, Dreame was officially launched in August of 2018. It has gained more than 1 million downloads on both the Google Play and App Store as of March 2019. It is featured as the second highest reading App on the Google Play store, ranked by revenue.
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