Social storytelling platform Wattpad has made Wattpad Paid Stories and Wattpad Premium now available to users globally. The Toronto-based media startup announced the rollout last week.
As the company’s exclusive paid content program, Wattpad Paid Stories enables writers to receive payments from users who purchase their stories on Wattpad. Currently more than 150 exclusive stories are available on the platform for purchase by chapter or as full stories.
For the first time, writers have the ability to earn money on Wattpad, which has been a proven conduit for writers seeking to ink deals with global entertainment companies such as Netflix and Hulu. The company reports that the program has been a success, with users logging more than 5.5 million minutes of Wattpad Paid Stories in the past month alone. Wattpad has a virtual currency called Coins, which are sold in packs.
Wattpad Premium, the platform’s ad-free subscription tier, caters to readers seeking interruption-free reading. These subscribers receive bonus Coins with every purchase of any Wattpad Coin package.
“Our vision at Wattpad is to entertain and connect the world through stories, creating the best platform and community on the planet for every type of reader and writer.”
“Our vision at Wattpad is to entertain and connect the world through stories, creating the best platform and community on the planet for every type of reader and writer,” sWattpad general manager, Jeanne Lam, told TechCrunch. “Every innovation and initiative at Wattpad supports that vision while improving the experience for users. Wattpad Premium and Wattpad Paid Stories give users everywhere more control over their Wattpad experience and options to enjoy the platform in new ways — whether it’s uninterrupted, ad-free reading or the chance to support the writers who make those stories possible.”