Startup Publisher Gives Readers Control Over What Books Get Printed

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read Name: Unbound

Quick Pitch: Unbound crowdsources funding for books.

Genius Idea: Ending the hunt for the next bestseller and the innovation bottleneck that comes with it.

The book publishing industry, says Unbound co-founder Dan Kieran, is broken.

“Publishers spend huge amounts to secure potential bestsellers, but only a very small number of those work out,” he says.

In the quest for the next big seller, authors who are known for one kind of book are encouraged to continue publishing that kind of book. Covers are designed to be eye-catching rather than beautiful. And innovative ideas that haven’t yet proven themselves as sellers can get left in the dust.

Kieran and his two co-founders, who are all authors and/or publishers, decided to rethink publishing in a way that shifts its focus from what might sell onto what readers have already declared they will read. Unbound, which launched on Sunday, allows authors to pitch their ideas directly to readers instead of editors. If enough readers support it — usually between 1,500 and 5,000 — the book will be published. If not, they get their money back.

Readers can pledge their support in different denominations. At the first level, they’ll receive an ebook edition of the book if it is published. At the most expensive, they’ll receive two invites to the launch party, lunch with the author, two signed first editions of the book and two ebook editions.

All supporters get their names printed in the back of the book and access to the author’s “shed,” where they can read updates about the book’s progress, draft chapters and other extras.

So far the platform only has five book proposals listed on it. Former Monty Python team member Terry Jones has pitched a comic book of “cautionary fables” involving machines and novelist Tibor Fischer has pitched two stories. Less than a week in, none of the proposals are anywhere close to gathering enough support to publish. Jones and Fischer have had the most success, each achieving 2% of their goals.

All of the proposals are from somewhat established authors with fan bases that have provided much of the support. Eventually, however, the platform hopes to be more like Kickstarter, which allows anyone to post a project for potential crowdfunding. But then why don’t authors just take advantage of Kickstarter’s already established user base and put their book pitches there?

Kieran says that Unbound provides all of the editing and distribution services of a publishing house, which the more broadly focused Kickstarter obviously doesn’t. That makes forking over 50% of book profits — much less than Kickstarter project leaders take home (95%), but much more than the typical publishing house pays its writers (about 7% to 15%) — worth signing up for. That, and the creative freedom that advance sales create.

“The difference is that because the books have already been sold, it gives an opportunity to change the way they’re made,” Kieran says.

Series Supported by Microsoft BizSpark

The Spark of Genius Series highlights a unique feature of startups and is made possible by Microsoft BizSpark, a startup program that gives you three-year access to the latest Microsoft development tools, as well as connecting you to a nationwide network of investors and incubators. There are no upfront costs, so if your business is privately owned, less than three years old, and generates less than U.S.$1 million in annual revenue, you can sign up today.

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