E-BOOK ROLE PLAYING
Right. So I promised I’d chime in with my understanding of the role that e-books play in current publishing models:
As I stated in my last post – when I refer to an “e-book,” I’m referring to the Kindle version, and since I’ve not had a thousand hate emails complaining that the Kobo and Nook should be included, I guess we all agree.
Most Kindle books run between $.99 and $2.99. 70% of that price, minus a “delivery” fee (in most cases coming out to about $.15 – it depends on the size of your file) charged by Amazon, is what the author/publisher retain in the end. Now, you might be thinking that selling a book for $.99 and making back roughly .$54 isn’t a very good return on investment.
In some ways you’d be right. It’s not a very good return. However, think about it this way.
Reader ‘A’ – we’ll call her the “casual reader,” has never read any books by a certain Mid to Low List Author. However, in browsing the types of books she likes, she comes across a novel by that certain Mid to Low List Author that has a dozen or more five star reviews behind it….
The print version of that book is $9.99. If she buys that book, the author may see as much as two to three dollars back in profits.
However, what is the likeliehood of her buying that book for ten bucks if she’s never read the author before, and there are different, cheaper choices available that might be just as good?
That’s right. The chances aren’t good that she’ll buy it.
On the flip side, if Reader ‘A’ is searching for the kinds of books she likes and she comes across a certain Mid to Low List Author’s book backed by positive reviews that’s less than a dollar? A book that she can have electronically delivered in the next five minutes?
The chances are much higher that she’ll take a chance.
My mindset, and the mindset of my new publishing venture, is that we’ll offer Kindle versions of our titles for the lowest possible price – usually $.99 – so that everyone can be easily enticed to give us a try. Seventy percent of $.99 is a hell of a lot more money than seventy percent of nothing.
At the same time, we’ll offer all the titles in print so that those of you who truly enjoy my books, or those of you that just really, really prefer print titles, are able to get a copy. Also, if the opportunity arises, print books will allow you to get a personalized copy.
At this point in my career, it’s most important to get as many copies of my titles into the hands of as many readers as possible. If I can make a small profit while doing it, well, that’s just money in the bank.
I think the general degradation of the small presses has been caused in no small part by the desire to “get rich quick” on untested authors. Small presses should remain small in the sense that they don’t really have the ability to foster and kindle the careers of more than a handfull of young authors at any one time. Once they’ve brought on board the absolute best authors they can find, authors that they believe in, authors that they know are doing important work, then they should stand behind those authors and do just what I stated above – getting those authors into the hands of as many readers as possible.
Only then, when the readership comes to the same realization that the publisher already has, that the author is very much worth reading, that the author is mandatory reading, then and only then can and should the prices be eked up so everyone can enjoy a larger profit margin.
My philosophy of course. Take it or leave it.
Here’s a great Q&A with Joss Whedon from Nerd HQ 2012.
