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Nigerian Start-up Publiseer Records $10,877 Profit in Q1 2018

By Dipo Olowookere

Digital publishing platform, Publiseer, has posted an impressive performance in the first quarter of 2018.

According to a statement issued by the Nigerian firm, in the period under review, it recorded a profit of $10,877.58, surpassing its expectations.

The company said it added over 200 new releases in the past 30 days and more are expected within the year.

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.

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Nevertheless, old and new clients can still use its ‘Freemium Distribution Service’ that gives Publiseer a 25 percent commission on sales.

It has taken just 8 months for Publiseer to become a money-making company.

The digital publishing company reported its first profitable quarter today, 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.

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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.

Commenting on the results, CEO of Publiseer, Mr Chidi Nwaogu, stated that, “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 is good building something that meets a growing need, and which eventually makes lots of money.”

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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.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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