SINGAPORE, July 21, 2019 /PRNewswire/ -- In June 2019, STARY, creators of the fiction reading mobile app Dreame, successfully paid percentage shares to authors through its "payment and clearing system". Many authors responded positively to the move. "We are fully aware that the access to track revenue has been our authors' concern, which is why it has also been at the top of the company's agenda," said Samuel, STARY CEO. "So far, more than 100,000 dollars have been sent to authors through our 'payment and clearing system'."
Authors grant the rights for STARY to display their brilliant stories on its platforms, but what does STARY do? Powered by internally developed smart recommendation algorithms, STARY helps authors obtain direct support from readers with its diversified monetization methods, such as "pay-to-read" program, monthly subscriptions, and all-book subscriptions. At the same time, STARY invests heavily in advertising and is always looking for the most suitable channels through which to promote authors' books. With the exponential growth of new readers arriving at Dreame, steady revenue for authors looks promising.
According to STARY, the "payment and clearing system" consists of three components:
a. Daily Coins Report
It allows authors to keep track of the number coins received from each book listed in the "pay-to-read" program. Through the number of purchases, authors are able to find out which book is well-received, and which may need some editing to maintain support from readers.
b. Monthly Revenue Report
It lists multiple kinds of revenue generated in any single month, including "advance payments", "signed story payments" and "daily-update payments", letting authors know where the revenue comes from.
c. Payment Table
This is where authors can get a clear view of net revenue generated and understand how it is calculated based on the type of contract they have signed with STARY.
STARY is also trying to provide more support through its data analysis tools, letting authors know what has been trending on and outside STARY's platforms, thus enabling them to create or edit their stories to meet the needs of the market. These data analysis tools will also be available to publishers and E-book aggregators who partner up with STARY. During the 2019 BookExpo, many potential partners expressed their interest in STARY's data analysis tools devoted in its business models. And as of now, nearly one-hundred industry institutions have reached a cooperation intention with STARY.
"We firmly believe that at our current rate of development, STARY will be able to help more and more once-obscure authors to monetize their content. It is our ultimate aim to create a sound and organic ecology where readers can easily find stories they love, and where authors can obtain the support they need to keep creating and sharing great content with their readers," said Shaw Suen, Dreame Chief Editor.
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 to 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 since 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.
Enjoy your reading now on iOS and Android!
Official website: https://www.dreame.com/
Facebook Community: https://www.facebook.com/DreameStory/
Instagram Community: https://www.instagram.com/dreamestory/
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