Tag: average income for self-published authors

news from the self publishing world, self publishing news, Uncategorized

Self-Publishing News: 7.2.2018 – The Company Files!

july

And now for the news!

Some highlights from this month in the world of self-publishing, specifically news from or regarding self-publishing companies!

Like it or not, there’s a widespread cultural assumption right now that because bookstore chains are struggling, therefore so too must authors be. Mercy Pilkington of The Good e-Reader is here to complicate that picture with an article that opens with the above provocative question, and sets out to disentangle common misconceptions about the lives of self-published authors as well as their traditionally-published counterparts. So, what, exactly, “does the industry hold for the traditionally published authors, the ones who’ve managed to snag the Holy Grail of writing and find both an agent and a publisher?” Pilkington goes on to answer: “Here’s a hint: the clearance bin at your local dollar store is filled with books that had a traditional publishing deal.” Being traditionally published is no insulation against common market pressures, she infers. Being an author has always, except for the ultra-rare zero-point-one-percent-likelihood blockbuster breakout success, been more about the art than the money for obvious reasons. And Pilkington’s closing thoughts are just as hard hitting. She writes:

But is this a chicken-egg scenario? Are publishing contracts paying authors literally minimum wage because all deals are getting smaller, or are the deals getting smaller because authors are shunning publishers and they aren’t earning as much as they once did? Either way, this situation sheds light on the increased professionalism and credibility that now surrounds the indie author space, indicating that this is (still) a great time to self-publish.

What do you think?

If you haven’t heard about “book-stuffing” … well, don’t worry. Neither had we, until this latest Amazon controversy blew up. Apparently, the self-publishing wing of the website (Kindle Direct Publishing) quietly rolled out some new rules to prevent authors from bundling their books together to get around the page limits of its subscription reading service, Kindle Unlimited. But that’s not where the controversy stops. (This is Amazon after all.) In a turn which surprises no one, Amazon has failed to enforce any of these rules, according to a number of leaders from within the self-publishing community who are pushing for the industry giant to put some weight behind its regulations. The simple fact is that there’s little incentive for the company to do so; its sheer size and its often-accused-as-exploitative author contracts insulate it from many of the ill side effects that the authors themselves will face. The way that Kindle Unlimited is set up, everyone who elect to offer their books through the service is paid out of one shared pot, which is allocated proportionally to its most-read texts. Book-stuffing makes it possible for some authors to exploit loopholes at other authors’ expense, and is therefore not a neutral or mildly problematic activity; it actually threatens livelihoods. Here’s hoping Amazon listens to its detractors and does some enforcement on this issue.

Self-publishing is an emergent opportunity for game design companies these days, with Frontier (above), Bungie, and NieR Studio all making noise in the last few weeks over their intentions to start self-publishing games. Frontier, a British game design company, recently launched an entire self-publishing division after closing down its less successful work-for-hire division. Writes Christopher Dring of GamesIndustry.biz, “It completed its contract with Microsoft (which included the 2015 game Screamride and incubation work on HoloLens), built its own publishing team and now answers only to itself and its shareholders.” The company is now in the process of deciding on how to go about offering third-party publishing to game designers who want to break from the traditional games publishing process. “‘It has to speak to our values,’ [Frontier CCO] Watts says. ‘The games that we make, we want them to be remembered.'” The CEO and CCO of Frontier discuss the elements which make for successful video games, which sound an awful lot like the ingredients for a successful self-published book: authenticity, ambition, attempting something new, and attention to detail. The article serves as a deep dive into the history of one game design company which is “going indie,” but it might just serve as a template to follow for other such companies in the near future.

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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.

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elizabeth speaks, in your corner, Uncategorized

In Your Corner: Crossing the Streams!

… the income streams, of course. Not the proton streams, of course! That’s just dangerous.

No, the kind of streams we’re talking about today are revenue streams–those avenues through which you as an author make your money. Because–here’s a fun fact!–the self-publishing experience is neither monolithic nor straightforward when it comes to making money, even though it may be simpler than the alternative. You might just be surprised where they money actually comes from! Most authors will say that the majority of their money comes from one of the following five sources, which include …

  • … the books themselves: In an article for The Write Life, Alexis Grant writes of how UK-based author Mark Dawson has made a fortune off of selling his books–books which have sold upwards of three hundred thousand copies as of the article’s publication. It may seem a bit cliche to mention yet another self-publishing success story like Dawson’s, but we’re nothing if not thorough here on Self Publishing Advisor. Blockbuster success is still an exception instead of the rule, but many authors make a comfortable margin off of their self-published books these days.
  • … the digital books: Says Joe Konrath, a “name” within the self-publishing world: “I’m outselling a bunch of famous, name-brand authors. I couldn’t touch their sales in print.” The parallel evolution of self-publishing and ebooks has seen the two threads of the publishing industry become deeply entwined, and it seems like a crime to conflate the importance of ebook sales with those of print when it comes to self-publishing! Many authors find niche success through digital sales that they wouldn’t in print for a variety of reasons. It really is a separate revenue stream!
  • … the movie?! This is a thing that can happen!? In real life?! According to Drew Mackie of People, indeed it can, and has, to a number of self-published works–including The Martian, Still Alice, and even Legally Blonde! (Now that is a range I can get behind, for sure.) Indie filmmakers especially have a deep appreciation for indie books (as in Still Alice) but genre films (like the rom-com Legally Blonde or the space-based science fiction masterwork, The Martian) also have put roots down into the world of self-published books which should not be discounted. And while in many cases the books are then picked up by traditional publishers after the film rights have been optioned, this is not the only format worth looking into. You can self-publish, remain self-published, and retain full rights during the film optioning process. This could even be a significant revenue stream for you!
  • … merchandising: We’ve written about this elsewhere and in great detail on SPA, but here’s the summary version: merchandising matters, and it’s both a money-making endeavor in and of itself as well as a way to boost book sales and therefore your primary revenue stream. Don’t ignore the merchandising!
  • … speaking engagements and book tours: “For many writers,” writes Alexis Grant, “marketing is the most difficult part [of the self-publishing process], either because [authors] don’t have the skills to pull it off or simply don’t want to. But the truth is, if you want to make a living as a writer, you have to be more than a writer. Figuring out how to promote your books is the only way you’ll sell copies.” And while not everyone may feel qualified or cut out for a speaking engagement like a book reading, signing, or tour, there’s a chunk of change to be made in building up your profile as a public speaker. For many authors, this eventually becomes a primary revenue stream and not some fiddly thing on the side. This seems especially true of authors of self-help and lifestyle or fitness books, but it is often true for authors in other genres too. Think about it!

The key to success isn’t in any single one of these revenue streams, but rather in a combination. And for every author, that combination will look a little different. Take a moment and think about it: what kind of revenue do you expect to see from your life as a self-published author? And how can you diversify those streams to create a more long-lasting, rewarding experience?

You are not alone. ♣︎

Elizabeth

ABOUT ELIZABETH JAVOR: With over 18 years of experience in sales and management, Elizabeth Javor works as the Manager of Author Services for Outskirts Press. The Author Services Department is composed of knowledgeable publishing consultants, pre-production specialists, customer service reps and book marketing specialists; together, they all focus on educating authors on the self-publishing process to help them publish the book of their dreams. Whether you are a professional looking to take your career to the next level with platform-driven non-fiction or a novelist seeking fame, fortune, and/or personal fulfillment, Elizabeth Javor can put you on the right path.
Jodee Speaks, Uncategorized

How Much Do Self-Publishing Authors Earn?

How much do self-publishing authors earn?

There is no one size fits all answer.

What an author earns varies greatly. Income is based on a variety of factors, including the author’s goals, intended market, and marketing strategy.

One of the main reasons author income varies so greatly is because many authors don’t self-publish to make money. They never intend to market and promote their book, so they earn very little. For these authors, success is not defined by the amount of money they make or the number of books they sell. Instead, it is simply based on whether or not they accomplished their goals.  Some common definitions of success among self-published authors include:

  • Sharing their story with family and friends
  • Reaching a niche market
  • Finishing and publishing their manuscript, regardless of how many books they sell
  • Gaining fame
  • Earning an income
  • Increasing their business
  • Building their following of readers
  • Adding to their resume
  • Getting picked up by a traditional publisher
  • And many, many more

I assume you ARE interested in earning money if you asked this question. For those of you who want to make a profit, here is what you need to know:

  • Depending on the trade discount set by you or your publisher, you can expect to earn royalties on average of $2-$7.
  • Some self-publishing companies offer more flexibility in setting pricing and royalties, so it is important to select a company that meets your needs.
  • Marketing is key to financial success! If you want to earn money from your book, be prepared to dedicate your time, money, and effort to marketing and promoting your self-published book.
  • Quality is also extremely important. You must offer readers a professional, well-written book.
  • A dynamic cover and professional editing are a must.

A great way to learn more about how much self-publishing authors earn and how they define success is studying other authors. Read interviews and books by successful authors. Network with writer’s in your area. Join professional writing groups. Talk to people who have self-published. Learn about the industry. All of this research will not only give you an idea of how much self-publishing authors earn, but will also offer excellent tips and advice for making your book successful.

ABOUT JODEE THAYER: With over 20 years of experience in sales and management, Jodee Thayer works as the Manager of Author Services for Outskirts Press. The Author Services Department is composed of knowledgeable customer service reps and publishing consultants; together, they all focus on educating authors on the self-publishing process in order to help them publish the book of their dreams. Whether you are a professional looking to take your career to the next level with platform-driven non-fiction or a novelist seeking fame, fortune, and/or personal fulfillment, Jodee Thayer can put you on the right path.
Uncategorized

How Much Do Self-Published Authors Make Per Year?

You want to become a self-published author, but you also have bills to pay and a lifestyle to maintain. So you pull up Google (or your search engine of choice), and search for “average income for book authors” or “average income for self-published authors”. You skim the results but can’t find any solid statistics. There’s a good reason why. Ready for it? Authors aren’t paid a salary. They earn royalties based on the sales of their book. These royalties are paid to them on a set schedule – usually provided that they meet the agreed upon “minimum earning threshold”.

So, will I be able to pay my bills if I become a self-published author? That’s an excellent question. Unfortunately, there is no “one size fits all” answer to it. When you publish a book, you are essentially taking a “gamble” on yourself. Many authors keep their day jobs until they are able to earn enough to support themselves on their book sales alone. One dedicated Outskirts Press author made $100,000 in only 180 days (6 months). However, there are some authors who don’t earn anywhere near this amount in a year. Furthermore, there are some authors who may not sell even one book over the course of a year.

How do you know where you fall? Self-publishing is all about investing in yourself. Given that successfully publishing a book involves 20% writing and 80% marketing, you should naturally spend most of your time/money on promoting the book after you write it. If you need help, you may consider enlisting the services of a book marketing consultant.

The income of a self-publishing author is 100% in their own hands. No one can “predict” how much you will earn as that is only a result of two things:  the quality of your book and substantial effort in marketing it to the right audience.

What level of success have you seen as a self-published (or traditionally-published) author? Have you been able to maintain your lifestyle on royalties alone? We’d love to hear from you in the comments below…