'Wattpad Originals,' a new freemium model to balance author earnings and story growth

Wattpad, the social storytelling platform, has recently announced "Wattpad Originals", a new freemium model, different from their previous "Paid Stories" program. This new model enables authors to monetize their content while also growing their non-paying readership. Authors have the option to place specific chapters behind a paywall, while still providing some content for free.

"Wattpad Originals" is an exclusive selection of high-quality content that is handpicked by editorial experts using reader engagement metrics. Readers can support authors by purchasing coins to unlock chapters, which are priced according to word count, or by subscribing to https://www.wattpad.com/premium/ for $7.49 monthly, so it will work as a content-suscription service similar to Kindle Unlimited, from Amazon Kindle. Paywalled chapters will also become available for free after a week or more.

The paywall will only apply to the most recent ten chapters of a series, helping readers anticipate when they can access free content. Despite "Paid Stories" generating millions for authors, it restricted story growth compared to free stories that had the capacity to go viral more quickly. The new model aims to benefit authors and readers by growing the free reader base and offering early access to paying supporters. Over 1,600 Wattpad Originals will be available at the launch of the new model starting on October 3rd, initially for English-language stories.