Nigerian startup, Publiseer reports over $10.000 Q1 profit

0
286
Chidi and Chika Nwaogu, Publiseer
Chidi and Chika Nwaogu, founders of Publiseer

 

Launch 8 months ago, Nigerian digital publisher, Publiseer, today reported a profit of $10,877.58 for its first quarter in 2018, saying the profit is 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 percent of their earnings. Nevertheless, old and new clients can still use its ‘Freemium Distribution Service’ that gives Publiseer a 25 percent commission on sales.

Advertisement

The reported profit is driven by a 20 percent 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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here