It’s time for another monthly update. So far this year I’ve managed to complete two synthetic audiobooks, one for HOS and one for HOWB. Although both the digital and physical versions of these titles are complete, I cannot release them without first acquiring the necessary licenses. To cut costs I need to buy these licenses in bulk for all of this year’s projects, for a total cost of 5k euro. 5000€ is way outside of Siforia’s usual investment costs, so to finance these projects I explored the possibility of using crowdfunding.
Two crowdfunding campaigns were launched on Indiegogo, one for HOS and one for HOWB. Despite a lot of research and marketing effort, the campaigns have been unable to raise the necessary funds. They are still live, but it seems unlikely that they will reach their goals. As such, I will need to resort to plan B, which is to have Siforia pay for these projects on its own.
Raising 5k won’t be easy. Siforia’s budget is already strained as it is from the release of the six hardcover titles and the upcoming TPS copy editing. In the best of worlds, I may be able to raise this amount within the next 3 months through a combination of passive income, consulting work and some outside investment capital.
For now I will keep working on TPS. If all goes according to plan, I will release this book within 2-3 months.
Lest I forget, here are some pictures of the crowdfunding products: