Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
Make money from short stories
Reading Time: 3 minutesThis post is sponsored by Penpee.com
Penpee.com is a creative community like Airbnb for a global network of writers, and readers to make money from short stories.
The platform launched by the founder T.J Penpee, in a bedroom, somewhere in Greater Manchester, UK in 2016, connects a growing network of writers & readers to share, read, write, and get paid for short stories, and even earn donations from fans for your exciting stories.
The idea is to encourage people to start reading and writing while helping them to monetise their content, with an exclusive focus on short stories.
The straightforward model gives cash rewards to writers, from all over the world, for every qualified page of their stories that are read.
It works by giving every new member welcome credits which are then charged as they read your story, and split between the platform and the writers.
The credits, when charged as you read the monetised (paid) stories are converted to cash to writers which can be deposited into their bank accounts or PayPal, depending on membership type.
There is an extended social element to it: To connect with writers, to rate, and review stories, invite friends to read your stories, see who viewed your profile, and all sorts of different things.
Donation is an additional option to support writers’ work, although it is not a substitute for normal earnings. Writers will continue to earn whenever qualified pages of their stories are read. Users will be able to choose to donate to you of their own volition.
How to write on Penpee.com:
You need to be a member and be logged in to write on Penpee.com. Then you will be able to select from Royalty-free or a (monetised) Paid story to write.
Royalty-free stories are free to read and writers do not get paid for them. Monetised stories on the other hand require credits to read and writers get paid for them. Every writer can post a Royalty-free story without a reader’s token. One reader’s token will be required to post a paid story if you are a free member. Prime members can publish unlimited paid stories without a reader’s token.
Membership:
Penpee.com offers both free and Prime memberships and anyone anywhere in the world, age 16 and over can be a member. Prime membership comes with an opportunity to earn up to 90% more commission than free membership. In addition, Prime members can write up to 12,000 words – 20 pages, a maximum of 600 words per page. Free members can only write up to 3000 words – 5 pages, a maximum of 600
words per page.
The platform recommends Prime membership to established writers and anyone with more than one story to be monetised.
Credit:
All members get 4 welcome credits at registration while the Prime members get in addition, up to 450 free credits to read stories. Additional credits can also be purchased from the dashboard. The platform offers 1 free daily login credit to everyone.
Reader’s token:
While you can publish your first Paid story (Monetised story) for free, a Free member will require a Reader’s token for every additional story they wish to be monetised.
Reader’s tokens are free and can only be earned when you have read at least 80% of a completed monetised story with a Reader’s token label on it. Reader’s tokens are not credits and cannot be used to read stories, they are only used to publish stories.
Note that, Prime members can publish an unlimited number of monetised stories without a Reader’s token.
Penpee.com was launched in a bedroom, somewhere in Manchester, UK in 2019, and serves a global network of writers and readers. They constantly ask for feedback from members and have incorporated the relevant ones to shape the platform and continue to do so. So, feel free to check them out and give your suggestion too. For Investors & partnership opportunities, contact at [email protected].
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.
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