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Yes, but if you're querying US and UK agents/pubs, what gets bought and sold in the US and UK is relevant.
As you've said, you can't get picked up by one of the Asia-based publishers. I have very little idea how they work, but I'd guess you'd have more success querying there given the larger market, even if it is an uphill battle. Every so often, writers with an interest in light novels ask for help here and about the best advice I've seen is to try querying in Japan. It isn't particularly easy to query anywhere, so best to go where you have the largest potential readership.
To get picked up anywhere by any publisher you will need a high quality book. That means not just a couple hundred people online saying they'd like to buy it. That kind of engagement doesn't translate to sales, which is why, at least for physical copies, brick-and-mortar distribution matters. And distributors care about what the local customers are reading. Ergo, less market for light novels in the US = less chance of your light novel getting picked up in the US.
Personally, I'd kind of side with spottedgeckgo--I've seen some people develop a decent following for online zines with both art and story components. There seem to be a zillion different types. Success can be a bit random and takes time. Usually you'd set up a Kickstarter or Patreon. Start small, with a basic issue--basic art, basic story. Calculate your cost to make, print, and pay the contributors and then try to raise that money.
Finally, the reason people are warning you about the contracts is that a lot of ad hoc contracts for these sorts of creative endeavours don't hold up in court. Which is why you need contracts reviewed by an actual lawyer (not found here, or anywhere else online). The contract isn't for when things are going well, it's for when things are going badly. When one of your co-authors decides to pull out of the project, the contract figures out who owns what. You want a contract that's airtight, not something both parties agreed to in an email.
A lot of your responses here, frankly, seem like you're either looking for a reason to be told this is impossible or looking to be told everything is against you. Which is the same refrain a lot of frustrated authors ring out: I can't get a book deal because I'm not Stephen King. Well, no. You're not Stephen King. And selling a book isn't easy. But it does happen, the business works in particular ways, and you can learn how to navigate it if you really want to do this. Or you can abandon the whole idea. Up to you, really, at this point.
As you've said, you can't get picked up by one of the Asia-based publishers. I have very little idea how they work, but I'd guess you'd have more success querying there given the larger market, even if it is an uphill battle. Every so often, writers with an interest in light novels ask for help here and about the best advice I've seen is to try querying in Japan. It isn't particularly easy to query anywhere, so best to go where you have the largest potential readership.
To get picked up anywhere by any publisher you will need a high quality book. That means not just a couple hundred people online saying they'd like to buy it. That kind of engagement doesn't translate to sales, which is why, at least for physical copies, brick-and-mortar distribution matters. And distributors care about what the local customers are reading. Ergo, less market for light novels in the US = less chance of your light novel getting picked up in the US.
Personally, I'd kind of side with spottedgeckgo--I've seen some people develop a decent following for online zines with both art and story components. There seem to be a zillion different types. Success can be a bit random and takes time. Usually you'd set up a Kickstarter or Patreon. Start small, with a basic issue--basic art, basic story. Calculate your cost to make, print, and pay the contributors and then try to raise that money.
Finally, the reason people are warning you about the contracts is that a lot of ad hoc contracts for these sorts of creative endeavours don't hold up in court. Which is why you need contracts reviewed by an actual lawyer (not found here, or anywhere else online). The contract isn't for when things are going well, it's for when things are going badly. When one of your co-authors decides to pull out of the project, the contract figures out who owns what. You want a contract that's airtight, not something both parties agreed to in an email.
A lot of your responses here, frankly, seem like you're either looking for a reason to be told this is impossible or looking to be told everything is against you. Which is the same refrain a lot of frustrated authors ring out: I can't get a book deal because I'm not Stephen King. Well, no. You're not Stephen King. And selling a book isn't easy. But it does happen, the business works in particular ways, and you can learn how to navigate it if you really want to do this. Or you can abandon the whole idea. Up to you, really, at this point.