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Bringing books into the TikTok era: Amazon's Kindle Vella and the rise of the new 'story platforms'

Bringing books into the TikTok era: Amazon's Kindle Vella and the rise of the new 'story platforms'
geekwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from geekwire.com Daily Mail and Mail on Sunday newspapers.

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South Korea's Naver Completes Its Acquisition of Canada's Wattpad

Naver’s US$600 million acquisition of Wattpad, announced early this year, is completed just as potential competition arrives from Amazon’s new Kindle Vella and Seoul’s Kakao.
In Seoul, a line of bus passengers and their cell phones during the coronavirus COVID-19 pandemic. Image – Getty iStockphoto: Wonseok Jang
South Korea’s Kakao Is Also a Buyer: Radish and Tapas
In January, as you’ll recall, it was announced that the Toronto-based Wattpad was to be acquired by Naver, a South Korean Internet search engine conglomerate, the home of Webtoon, a digital comics platform.
In its messaging overnight (May 10), the Canadian company has reiterated its earlier citation of the acquisition being a cash and stock transaction valued at more than $US600 million. It also restates that Wattpad’s co-founders Allen Lau and Ivan Yuen will continue their direction of Wattpad, and that the company will remain based in Canada. Lau, who is CEO, is to report to the Jun-koo ....

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The one where writing books is not really a good idea

The Novelleist
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The New York Times caused a stir recently when, in an article about pandemic book sales, it disclosed that “98 percent of the books that publishers released in 2020 sold fewer than 5,000 copies.”
Though this statistic was shocking to many, it is not new information. People don’t read books and the ones that do aren’t buying them. To make matters worse, “books that publishers released” are only the “success stories” those books that scored hard-won Big-Four publishing contracts and those are already a small piece of the book publishing market.
According to Bookstat, which looks at the book publishing market as a whole, there were 2.6 million books sold online in 2020 and only 268 of them sold more than 100,000 copies that’s only 0.01 percent of books. ....

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This Week in Apps: An Apple event, more Clubhouse clones and an app store antitrust hearing – TechCrunch

This Week in Apps: An Apple event, more Clubhouse clones and an app store antitrust hearing
Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry is as hot as ever, with a record 218 billion downloads and $143 billion in global consumer spend in 2020.
Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3.7 hours of live TV per day, but now spends four hours per day on their mobile devices. ....

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