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It has been very popular among some authors that I've noticed. While I haven't seen an exceptional success, some do have minor success.
What I've seen is that these authors like publishing the books in what is essentially a chapter at a time. It breaks it down for them and they get input as they go. Usually, they publish it as a novel once they're done with the serial story. It's an effective strategy for those who like to write that way.
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