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Crime Writer Makes a Killing With 99 Cent E-Books

sparkchaser

Administrator and Stuntman
Staff member
Interesting article on Slashdot: Crime Writer Makes a Killing With 99 Cent E-Books

Joe Konrath has an interesting interview with independent writer John Locke who currently holds the coveted #1 spot in the Amazon Top 100 and has sold just over 350,000 downloads on Kindle of his 99 cent books since January 1st of this year, which, with a royalty rate of 35%, is an annual income well over $500k. Locke says that 99 cents is the magic number and adds that when he lowered the price of his book The List from $2.99 to 99 cents, he started selling 20 times as many copies — about 800 a day, turning his loss lead into his biggest earner. 'These days the buying public looks at a $9.95 eBook and pauses. It's not an automatic sale,' says Locke. 'And the reason it's not is because the buyer knows when an eBook is priced ten times higher than it has to be. And so the buyer pauses. And it is in this pause—this golden, sweet-scented pause—that we independent authors gain the advantage, because we offer incredible value.' Kevin Kelly predicts that within 5 years all digital books will cost 99 cents. 'I don't think publishers are ready for how low book prices will go,' writes Kelly. 'It seems insane, dangerous, life threatening, but inevitable.


"...within 5 years all digital books will cost 99 cents..."

Seems like a really good idea to combat piracy.
 
I know that if they all cost 99 cents I'd buy a Kindle tonight. As long as most ebooks cost more than paper backs I'll just keep getting most of my books from the library.
 
As these indie publishers come along and sell their e-books for 99 cents, the list of best selling authors are going to slowly change. And existing, larger publishing companies will have to consider changing their strategy.
 
As these indie publishers come along and sell their e-books for 99 cents, the list of best selling authors are going to slowly change. And existing, larger publishing companies will have to consider changing their strategy.

Or lower their quality. Likely both. :sad:
 
Or lower their quality. Likely both. :sad:

That's my fear.

I have come dangerously close many time on buying a 99 cent SciFi eBook from an unknown author because hey, it's only 99 cents. Then a little voice in my head reminds me that I am not at a point where I am actually looking for new authors and so I buy something off of my list.
 
hopefully there will be some brighter 'cheaper' future for ebook readers....the prices are probably why I do not have a Kindle any more - always cheaper to get them! :confused:
 
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