Given my handle, it's no surprise that Wattpad has not been a website I've been all that interested in. After all, writing takes a lot of time and effort... why just put that up on a website if there's no way to turn a profit from it? Because sure, you might make a big splash and get your work noticed, but that's a big gamble to make. Fortunately for those who want to both entertain the masses and pay their bills, Wattpad is trying out something new. It's called Wattpad Futures.
|What is that, you ask? Well, that's what I'm here to tell you.|
How Does It Work?
The idea behind Wattpad Futures is pretty simple, really. Authors in the program have their stories enrolled, and between every chapter the site displays an ad. So the more people read, and the more those ads get seen, the more the writer makes from it. Not only that, but the Futures program uses a PPM setup (which is a fancy way of saying you receive a set dollar rate for every 1,000 ads that get seen by readers). These futures are paid out every quarter, assuming the author amasses at least $100. If you don't make at least $100 a quarter (and that's easy to do, assuming you haven't written a hugely popular story on a site crammed with other fiction), then it's saved until the next time around.
Also, stories that involve copyrighted characters, settings, etc. are not eligible (though stories about real people as characters are, it seems from the FAQ).
How Do I Get In On This?
Well, at the moment, you need to wait. Wattpad has been messing with this program for a while, and it's currently in a closed beta. Only Wattpad Stars who are 18 years of age or older were invited to participate, and the first quarter of the program recently ended back in March. However, it doesn't seem the program blew up, and it's possible that in the future it will be open to more writers than are currently participating in it.
So, if you're already on Wattpad, you should keep an eye on this program. However, if you're not on Wattpad, you should ask if you want to start building your base there in the hopes that the doors will open for you. This could be especially problematic if you write stories that don't come in multiple parts, as the transitions are where you get your money's worth with these ads.
If you're looking for alternative programs where you could submit your work, and get paid based on the number of reads you get, then you might want to take a look at my coverage of both Vocal and Infobarrel. I've used both of them, and at least as of time of writing, they're pretty reliable income streams for writers willing to put the effort into them.
That's all for this week's Business of Writing installment. Hopefully this has caught a few writers' eyes, as Wattpad becoming a potential income stream is pretty big news. If you'd like to check out more work of mine, you should stop in to take a look at my Vocal archive. To stay on top of all my releases, follow me on Facebook, Tumblr, and Twitter. Lastly, if you want to help me keep doing what I do, consider dropping a few coins over on The Literary Mercenary's Patreon page, or just Buying Me A Ko-Fi.