Today is huge day in the history of Firebrand Technologies! Today, in cooperation with Rosetta Solutions, we are formally announcing the formation of joint venture company called NetGalley LLC. For more information about this joint venture, please see our press release.
NetGalley is a product that was created by Rosetta Solutions to help publishers manage the 'galley' process in an electronic way. Galleys are books that are printed in advance of the formally published book. Generally, they are sent out to reviewers and key customers prior to their formal publication so they can be reviewed. NetGalley is a tool that manages this process electronically, by creating a secure environment where reviewers can either read or download electronic versions, or request a hardcopy of the 'netgalley' and then post their reviews online.
The product was formally launched last Spring during BEA. Since then it has garnered much attention, but has not made a significant impact in the market. At least not yet... We are definitely hoping to change that!
The concept of NetGalley is a very exciting one for everyone in the industry who recognizes how much wasted money there is in the current 'galley process'. Publishers waste significant money sending galleys out via the mail to people who either never get them or never read them. Reviewers are often inundated by publishers to review their books, and need to create makeshift tools to manage their workload.
To, me, there is a tremendous opportunity to help publishers save money in this process. The amount of money wasted on sending galleys to bad addresses is enough to make any publishing CEO wince! By providing reviewers with rich bibliograpic data (which of course is Firebrand's forte), they can choose to opt-in to either read a galley electronically, or have one sent to them. Savvy publishers will connect this system directly to their print on demand printer of choice and have a galley custom created for the review.
In later entries, I'll be talking more about this, and how we intend on:
- Making NetGalley completely integrated with Firebrand's Title Management and eloquence databases.
- Improving the workflow for both publishers and reviewers
- Changing the business model from a price per title to a subscription model