V! Studios to Launch GlobalDig.com
Posted on November 10, 1999V! Studios, Inc. of McLean, Va., has announced that it will spin-off its GlobalDig.com website, which will become a publishing portal. The site, which houses the secure Global Digital Media system (GDM), will allow authors, and other owners of documents and files, to publish their works. The system is designed to guarantee the copyrights of authors, and allow them to earn royalties for every copy sold. The system also allows out-of-print authors to return to print. The site will be unveiled at the beginning of the year 2000.
"We believe that authors deserve the majority of the royalties for their hard work and risk," said Maurice Benesch, President of V! Studios. "Internet technologies have made it possible to radically reduce the costs associated with the traditional publishing process. These savings should be passed-on to consumers and authors. The technology not only creates new and better revenue streams for authors, but for any and all individuals and corporations that own content."
The system's other features include services of digital conversion, graphic color cover design, and marketing. Authors/document owners control the prices of their documents and also receive feedback about the customers who buy their works through aggregate information about the demographics of his or her readers.
"Technology has changed the rules in publishing. The current way of publishing is ineffective for millions of talented writers and for millions of books that are out-of-print," said Dyung Le, an MIT-trained Director of Technology at a major e-commerce company. "GlobalDig.com is about using the very best technology to empower the individual author as well as the innovative publisher."