And now for the news!
This week in the world of self-publishing:
This week, Publisher’s Weekly gave some predictions for self-publishing in 2017. According to this article, a 21% increase in ISBN registrations between 2014-2015 alone will definitely make some alterations to the self-publishing market. “New services have made it easier than ever to launch self-publishing projects,” says Alex Daniel, author of this piece, “and as the landscape gets more crowded, it becomes more difficult for authors to stand out and make a profit.”
However, this isn’t just a problem for self-published authors, but authors in general. The rise of the Kindle and other ebook readers has lead to an increase in supply of ebooks, and not necessarily an increase in demand. Daniel says that Amazon “requires participating authors to publish e-books exclusively with Amazon and allows titles to be eligible for Kindle Unlimited—a program that provides unlimited books for readers who pay a monthly subscription fee.” This means that authors are not compensated for how many books they sell online, but rather how many pages of their books are read by online subscribers.
As you can imagine, author’s reaction to the struggle in the online book marketplace has been to retreat from a sole focus on ebook business–to try and get their paperback or hardcover books back into bookstores and libraries, and to expand into other sectors such as audio books and television. Further, Daniel predicts that self-published authors will begin to beef up their business cards by “adding such words as consultant, publisher, and marketer[…], passing on lessons for success to other authors.” This is huge because it means that authors can make some money on the side helping others fulfill their dream of publishing just by sharing their first-hand experiences with self-publishing.
Where the internet seems to be helping authors in 2017, is of course, with marketing. Tapping into exactly who your audience is and what they are looking for has become immensely easier thanks to data from online readers. Not only that, but through social media, authors can directly sell their books to the readers that follow them. This serves a dual-purpose: ease of sales, and the establishment of a more personal connection with you reader base.
We will all have personal, political and business related challenges arise in 2017, however it is not the challenges that will define this year, but how we overcome them. Self-publishing authors are known to utilize their creativity and perseverance in the face of adversity. When a publishing company says “No,” we do not sit quietly and toss our manuscripts aside. If ebook sales are not satisfying our goals, we will find other means to get our work out there. The internet may have its share of flaws, but we can use it as a tool for our success, and this year I challenge you to do just that.
As a self-publishing author, you may find it helpful to stay up-to-date on the trends and news related to the self-publishing industry. This will help you make informed decisions before, during and after the self-publishing process, which will lead to a greater self-publishing experience. To help you stay current on self-publishing topics, simply visit our blog every Monday to find out the hottest news. If you have other big news to share, please comment below.