Real Publishing Numbers…How do you make millions as a writer?
[image error]How do you make money in publishing? What is the best publishing option for you?
I recently read a post by author Nathan Bransford, Amanda Hocking and the 99-cent Kindle Millionaires, where he talks about the numbers.
What really is happening in the publishing world and who's making the real money?
He made some good points about why eBooks are priced higher for traditional publishers (hint: it's not the cost of paper, it's the overhead, which is the same regardless of distribution…), how print books are still big sellers and how traditionally published authors are still the biggest money makers.
"It's not as exciting a story to remember that traditionally published franchise James Patterson made $70 million between June '09 and June '10, but it's still worth keeping in perspective."
That's quite a perspective!
He doesn't appear to be anti-selfpub or anti-Big6. He's just putting some thoughts out there.
I appreciate that.
However, I do have some thoughts on this myself.#shocking #Iknow
One, there aren't any examples of NEW traditionally published authors who are getting great contracts now! You hear about the authors who are turning down contracts to go indie. (J. A. Konrath)
You hear about successful indie authors who take a sign big contracts. (Amanda Hocking)
But where are the Stephenie Meyer stories? I'm not seeing 'em. So I'm wondering how viable the traditional path is for unpublished authors. See what I mean?
Publishers are hurting. Revenues are going down. Bookstores are closing. Yeah, the James Patterson's of the world are rolling in the dough, but what about the rest of us? (Please contradict me on this, if you have examples of unheard of never-before-published-authors who are CURRENTLY getting big contracts and making big sales!)
This article also points out that paper books still make up the majority of sales, even as ebooks are on the rise. Ok yeah, I've never argued that paper books are obsolete. But most indie authors I know DO publish a paperback version for those who like to hold real books.
Right now CreateSpace & Lightning Source are the big hitters in Publishing on Demand (POD) for indie authors. CreateSpace does paperback and Lighnting Source offers both paperback and hardcover if you want all options.
So how is this a detraction for indie authors? So many articles speak of indies like they only [image error]sell eBooks. I have both paperback and eBook versions of my book "Bits of You & Pieces of Me" and my YA fantasy books will likely have a hardcover option as well.
If you want to make the argument that indie authors aren't seen in brick and mortar bookstores, I would argue that most authors (even traditionally published authors) aren't seen in brick and mortar bookstores. Have you been to one of those lately? It's like a ghost town. Very depressing. Most of them are going out of business.
And not because of the indie movement. Likely because I can get anything I want online. I can find things easier by genre, read excerpts and get it delivered instantly or very quickly. Last time I tried to find a new book at a real bookstore, I left empty handed.
So I'd say getting into an actual bookstore, while nice for the ego, isn't great for the pocketbook. Especially when the bookstore takes 50% or so of the profits! YIKES!
And finally, this post fails to break down the true numbers regarding the percentage of eBooks vs. paper books being sold. I recently read a very compelling article (which I cannot find at the moment) that showed the real numbers. Certain genres sell MUCH higher in eBook than paperback, and vice versa.
Fiction does better in eBook than non-fiction. In fact, people buy MOST of their non-fiction in book form. So if you write in that genre, make sure it's available in at least paperback. This is especially true in self-help books and reference books.
Fiction does well in eBook format. Especially romance. If you write romance, you're gold in the ebook world. But John Locke writes thrillers and was the first Kindle millionaire to sell over 1 million ebooks. He even wrote a book telling everyone how to do what he did.
"How I Sold 1 Million eBooks in 5 Months." I just bought it. I'll let you know how it is after I read it.
When you smoosh all these numbers together, you get a very skewed picture of what really is selling in what format!
What do you think? Do you read more eBooks or paperbooks? Do you buy more books online or at stores? Inquiring minds want to know!
