It's less expensive that the other subscription services, $4.95 v. $8.95 and up, and I suspect that will be a major plus. I can't see people paying as much to read ebooks as for Netflix.
It also has a business model that's likely to be far more viable. Here is their description:
If, during the month of July, Inkbok collected total gross proceeds of $100,000, Inkbok would give $10,000 (10%) to charity, distribute $60,000 (60%) back to authors/publishers, and Inkbok would keep $30,000 (30%) to run Inkbok.com.
1) If you had a book on Inkbok that received 150 reads in July, how much would you get paid?
Let's assume that in the month of July the total number of reads for all books on Inkbok was 15,000. First, authors of books receive 85% of the $60,000 for royalties, which is $51,000. Next, we divide that $51,000 by 15,000 reads to come up with $3.40 per read. Since your book had 150 reads, you would earn $510 (150 times $3.40).
2) If you had an article on Inkbok that received 200 reads in July, how much would you get paid?
Let's assume that in the month of July the total number of reads for all periodicals/short stories/poems on Inkbok was 15,000. First, authors of periodicals/short stories/poems receive 15% of the $60,000 for royalties, which is $9,000. Next, we divide $9,000 by 15,000 reads to come up with $0.60 per read. Since your article had 200 reads, you would earn $120.00 (200 times $0.60).
Per read royalties will vary each month depending on the month's total revenue, number of reads, and number of readers and writers. Inkbok is a community that is benefited by growing itself.
What constitutes a "read"?
A work is considered read when at least 20% of the work has been viewed by a reader.
They've yet to launch because the apps for iOS and Android won't be ready until probably March, but they are accepting ebook submissions. I've placed three of mine there, sending them exactly the same files (cover and epub) that I supplied Apple. That seems to be OK and it means no additional labor on my part.
It's certainly an option to consider. It's easy to join and you can quit at any time. If they end up with some sort of ranking scheme, getting in early might be a plus.
Oh, and they have something I've not yet seen the others offer--a free subscription level. If you've got a series of books, you could place the first one there and draw attention to your other books in the paid area for reading there or for purchase.
They'll also be offering a way to sell your ebooks online and, if I read them right, you'll get 80% of retail versus 70% at Apple and somewhat less than 70% at Amazon (due to Amazon's exorbitant download fees).
It certainly worth a try, particularly if you already have Apple-ready epub files. The upload procedure is much easier than Apple or Amazon and you aren't required to have an ISBN.
They'll also have an area for short stories and documents than can be done in installments. That might work well for serializing a story as it grows into a book. Earn while you write rather after it's all done.
And finally, you might want to set up as a publisher account rather than an author account. Doing that is a manual process. Contact them at:
I did that and it's not hard. It allows you to use multiple pen names or to publish for yourself and friends. You need a publisher name for that.
--Michael W. Perry, Inkling Books, Auburn, AL