Edda Pay

"I don't think you'll find an author that doesn't want this." ..said an author during our guerrilla testing of the Edda platform at Bokmässan in Gothenburg this weekend. We, as founders, couldn't agree more (unsurprisingly). But we believe it's true for publishers as well. Both need better tools. Both publishers and authors need better real-time insights into book their sales across different channels. Both publishers and authors would benefit from knowing their estimated book sales months into the future. Authors need the ability to access royalties whenever they want, giving them financial security and stability. This, in turn, allows publishers to reduce high advances and foster better relationships with their authors. If we didn't catch you at the bookfair and you believe in a better future for publishing, let’s talk. eddapay.com #EddaPay #GothenburgBookFair2024 #FutureOfPublishing #PublishingInnovation

De kommer från ledande positioner på ljudboksjätten Storytel, titlar de lämnade för att göra något eget. Resultatet heter Edda Pay – ett nytt betalbolag som ska rädda en krisande bransch som vilar på spelregler från 1800-talet. Redan sex månader efter start och innan tjänsten lanserats så har Edda väckt investerarnas intresse.

We are so thrilled to be at Bokmässan in Gothenburg this weekend, meeting authors and publishers and showcasing the Edda platform. #publishing #authors #eddapay

Authors should have real-time insight into their book earnings and be paid on-demand. We had a great conversation with Svensk Bokhandel about the challenges many authors face— low transparency into their book sales and waiting forever for their earnings. We're working on a solution that, powered by an algorithm that predicts sales in real-time, lets authors know how their books are doing across all sales channels and allows them to payout their royalties whenever they need them. We’ve already seen promising results in our pilot with Lind & Co, and we’re excited about what this could mean for both authors and publishers. It’s just the beginning, and we’re learning every day! #publishing #authors #royalties https://lnkd.in/d8-_KQ7c

💥 Edda is at TechBBQ 💥 We’re beyond thrilled to be in Copenhagen and talk about innovating the publishing industry. If you see our CEO Sofia Svärdh, say hi!

A powerful quote from a frustrated author. Read the full The Bookseller article on how the financial exploitation affects authors' mental health, damages trust in publishers, and perpetuates inequality in the industry. A perspective we recognise and are actively working to better. https://lnkd.in/dYvWm-c9 #publishing #eddapay #innovation

How being a published author and working 10 years within product and design have lead our CCO and co-founder Angel Kirkegaard to start Edda. ❓ Can you share a bit about who you are and what your background is? "I originally studied literature, books and writing have been a huge part of my life since I can remember. Simultaneously, I have always been interested in technology and the services that make up our world. That led me to a master in digital design and interactive technology and I have worked within design, innovation and product for the last 10 years. Most recently I worked at Storytel as design lead, and my tenure there will always hold a special place in my heart, because I got to work with two of my favorite things: literature and technology. Currently, me and my partner Emil live in Barcelona with our two kids, but our “real” home is in Copenhagen. I don’t write as much as I used to do, but I read a lot, I knit a lot and I run a lot" ❓ What inspired you to start Edda, and what's the biggest lesson you've learned on your entrepreneurial journey so far? "I was fortunate enough to get a book published when I was 16 so I have received royalty reports for many, many years and have first handedly felt the challenges that authors experience with in-transparency and uncertainty. When the first initial idea of Edda was being shaped, I got chills. I knew that we were on to something that was significant and what we wanted to do could help reshape an industry. The biggest learning so far has been to just do it. We have a “go-go-go” GIF in our Edda Slack and I feel this is very much where we are with things at the moment. Doing, reiterating and doing again" Read the full interview here: https://lnkd.in/dvNTZ-Yx #eddapay #publishing #fintech

Can the literary industry survive its current challenges? Like many in the industry, we've been closely following the recent discussion about the state of the literary world, highlighted by insightful voices like Anders Rydell in Svensk Bokhandel and author Stefan Lindberg in Dagens Nyheter. They paint a picture of an industry grappling with financial instability, outdated compensation models, and the disruptive forces of technology and digitalisation. And the reality authors face is troubling. 🔴 Financial instability is rampant. 🔴 Authors who once lived comfortably off their writing are now barely scraping by. 🔴 The financial strain is taking a heavy toll on creativity. Traditional compensation models, with royalties paid out once or twice a year, create long periods of financial uncertainty. 🔴 Authors are often left in the dark about their sales and earnings, making financial planning nearly impossible. There's a growing concern about the impact of AI and digital platforms on intellectual property rights and fair remuneration. This is a global issue. Currently, the literary community in the UK are calling for greater support from policymakers to address the profound challenges they face. What’s our take as a company that is driving innovation within the publishing eco-system? We see these challenges and believe it's important to recognise the opportunities that digital disruption brings. Edda Pays mission is to leverage technology and innovation to provide both authors and publishers with more transparency and empowerment. 💡 Offering real-time sales insights: Provide authors and publishers with up-to-date sales data, enabling them to make informed decisions and plan better. 💡 Delivering clear and actionable data: Help authors and publishers understand market trends and adapt swiftly. 💡 Providing on-demand book earnings: Ensure that authors can access their earnings whenever they need, reducing financial uncertainty. Can the literary industry survive its current challenges? We think so, but it requires rethinking how we support authors and publishers in this new consumer landscape without reverting to old systems. Collaboration between government bodies and the industry is essential to creating a sustainable publishing future. ---- #eddapay #publishinginnovation #digitaldisruption #creativeeconomy #futureofbooks #publishingtrends #digitaltransformation #techinpublishing

Our CEO and co-founder Sofia Svärdh used to be a a songwriter and audio producer before working over a decade in tech. Dive into her journey, vision, and how her background was the driving force behind Edda Pay's mission to transform the royalty ecosystem. ❓ Can you share a bit about who you are and what your background is? "I’m originally a songwriter and audio producer. But the struggle to live on music royalties led me to a gig editing audiobooks for Storytel, a Swedish pioneer in the book industry and at that time back in 2013 sort of a startup actually. My journey there spanned over a decade, during which I led their Production department, first here in Sweden and then globally, expanding to 25+ markets. Eventually, I moved into Product and Tech leadership, focusing on creating the tools, services, and compensation platforms for the creators' side of the business. " ❓ What inspired you to start Edda, and what's the biggest lesson you've learned on your entrepreneurial journey so far? "With Edda, we’re addressing the very challenge I had and that brought me here — with transforming the royalty ecosystem. I’m obviously very grateful for the journey that this problem led me out on, but when realising that problem can actually be solved, and that I’m in a position to actually contribute to solving that, together with two people I know are both great humans but also rarely suited to tackle this particular challenge, I just had to. And one of the key lessons I’ve learned so far is about the balance between conviction and adaptability. Staying true to our vision and beliefs, but also being responsive and open to all the things we learn along the way. I’ve found that sticking to and often reminding ourselves about our vision keeps us purpose driven, but to reach our goals we also need to stay agile and embrace change." 🔗 Read the full interview here: https://lnkd.in/dpDRxyhx #MeetTheFounders #Leadership #PublishingIndustry #Innovation #EddaPay

Wondering who's behind the tech at Edda? Meet Daniel Bodner, our Co-founder and experienced CTO, driving tech innovation and transformation in the publishing industry. ❓ Can you share a bit about who you are and your professional background? What experiences or skills do you bring to the table as a co-founder of Edda? - My background is in computer science, software development and leading software development teams and departments. In the last few years I have not done a lot of programming, but in the last few weeks I have been coding a lot, and it’s really fun. I live in Vienna with my wife and our 2 kids. ❓ What inspired you to start Edda, and what's the biggest lesson you've learned on your entrepreneurial journey so far? How has this lesson influenced the way you approach building Edda? - Teaming up with 2 colleagues I know who are great. Being able to stay in the book industry and trying to improve something by creating win-win situations. ❓ Looking ahead, what are some of the key initiatives or milestones that you hope to accomplish with Edda in both the short and long term? - Short term, prove that the idea works and we can deliver sales data with high accuracy. Long term, be known as the author-facing payout method for book royalty. -- Dive into Daniel's full story and see how Edda is changing the financial landscape of publishing from Daniel's perspective: https://lnkd.in/dxvraWBg #EddaPay #PublishingInnovation #TechLeadership #AuthorEmpowerment #CTOInsights