Nigerian Digital Publishing Star-Up, Publiseer, Reports First Profitable Quarter Of about $10, 877.58
Nigerian digital publisher, Publiseer, today, reports a profit for its first quarter in 2018, adding over 200 new releases in the past 30 days. The company posts a first-quarter profit of $10,877.58, comfortably ahead of its expectations. Following the profits, Publiseer has launched its ‘Premium Distribution Service’ that will distribute books and songs for an upfront fee, allowing its authors and musical artists to keep 100% of their earnings. Nevertheless, old and new clients can still use its ‘Freemium Distribution Service’ that gives Publiseer a 25% commission on sales.
It’s taken just 8 months for Publiseer to become a money-maker. The digital publishing company reported its first profitable quarter today, driven by a 20% rise in submissions and a faster reputation growth overseas. Publiseer has thrived since its launch in August 2017, and traction has grown drastically. Since its international popularity is growing exponentially, the company is making moves to expand its services outside of Nigeria. In response to this, Publiseer has distributed the works of Canadian Youtuber Heidi Shai, American Jazz musician Ragtime Joe, and Missouri producer ANB Beats. In Africa, Publiseer has distributed the books of Cameroonian writer Juan Gutied and Zimbabwean author Godfrey Masanga.
As of writing, Publiseer has distributed 92 books and 374 tracks by 73 authors and 154 artists, having received over 1,000 submissions since August 2017. Chidi Nwaogu, Publiseer’s CEO said: “Starting Publiseer, we weren’t focused on profitability as an early-stage company, rather, we were focused on customer satisfaction and retention. But at the beginning of the first quarter of this year, submissions doubled and thus our releases too. It’s good building something that meets a growing need, and which eventually makes lots of money.”
Publiseer is a digital publishing platform for unsigned and independent writers and musicians with low-income or from low-income families. However, the platform is open to well-established authors and musicians looking for new avenues to distribute and monetize their creative works on the World Wide Web. Publiseer has distributed the works of A-list Nigerian artists like CDQ, Klever Jay, Erigga, and DJ Jozenga of RayPower FM.