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The economics of self publishing e-books

Hugh

Member
The Economics of Self-Publishing an Ebook

My prejudices against self publishing are being destroyed. There have always been a few cases of self pubbed authors able to make a living, but they were few and far between. Almost every day there is a story of a new self pubbed author hitting it big, mostly from Amazon's Kindle site, and I remember one story of an author hitting big on smashwords. It's obvious that a paradigm shift is happening in publishing, but it's happening faster than I thought it would. The above linked blog says that Amazon now sells more e books than print books. Maybe that's because the stats are skewed from the Kindle Christmas season, but even if it is, it still shows ebooks are gaining momentum very, very fast.
 
Hmm, I don't know, but it does say "sales". I doubt if they would include the freebies under that, but I'm not sure. I would imagine that many of the Christmas downloads were the freebies, that leads me to believe they are including them though.
 
Thanks for the link. :)

My prejudices (I did have them, honest) got eroded away over late 2009 and the first half of 2010.

I've been an indie software developer since 1996, full-time since 1999. I've had a couple nonfiction books about video games published the traditional way, but never had much luck with agents or publishers when it came to fiction. I don't do well with "hoops" that I'm required to jump through. The more inefficient the hoop, the more cranky I get, especially if my jumping effort doesn't seem to be getting me anything. I first considered selling my stories over the Web in 2006, but I couldn't see a way to do it profitably (or credibly) then. I couldn't see a real market for it. So I kept my eyes on the publisher route.

Late 2009, though, things had changed. Ereaders were becoming mass market. People were beginning to buy ebooks in quantity. And Amazon made it easy to get published and visible and purchased.

All the components were in place, but I still dithered a bit, waiting for The Girl Who Ran With Horses to get rejected by a handful of publishers before finally deciding it was time to add another "indie" to my list. :)

As of this week, I have released 3 novels, 3 collections of short stories, and 3 short stories, all as ebooks, some with print-on-demand trade paperback editions. I've learned a lot (some of what I've learned, I owe to Hugh; thanks!) and I'm enjoying the process.

Sales haven't been huge, but I'm not (too) worried about it. I like what I'm doing, and I plan to keep doing it for at least the rest of 2011.

-David
 
Now, here we go with the opposite. Amanda Hocking became a millionaire by self pubbing her e-books, and now she's signed a huge contract with St. Martins:

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March 24, 2011
A Successful Self-Publishing Author Decides to Try the Traditional RouteBy JULIE BOSMAN
If any writer proved that modern self-publishing could be a pretty sweet deal, it was Amanda Hocking.

In the past year Ms. Hocking, a 26-year-old from Minnesota, became an indie heroine in the literary world for publishing nine books that sold a total of more than one million copies, nearly all of them in e-book form, earning almost $2 million for her efforts.

But for Ms. Hocking, self-publishing has had its limits. On Thursday she announced that she had sold a four-book series to St. Martin’s Press, ending a frenzied weeklong auction that involved nearly every major publisher in the business, including Random House, Simon & Schuster and HarperCollins.

St. Martin’s, part of Macmillan, paid more than $2 million for the world English rights to the “Watersong” series, Ms. Hocking’s latest books in the young-adult paranormal genre.

“I’ve done as much with self-publishing as any person can do,” Ms. Hocking said in an interview on Thursday. “People have bad things to say about publishers, but I think they still have services, and I want to see what they are. And if they end up not being any good, I don’t have to keep using them. But I do think they have something to offer.”

Publishers, weary of hearing about their disposability in an age when writers can self-publish their work on the Internet and sell it on Amazon.com, said they were vindicated by the news.

Matthew Shear, the publisher of St. Martin’s Press, said that he wanted “pretty badly” to win the auction for Ms. Hocking’s books and that he would be able to introduce her work to a wider audience of readers. He first heard about Ms. Hocking six months ago from an editor at St. Martin’s, Rose Hilliard, who pressed him to read “Switched,” one of Ms. Hocking’s novels. (They are for sale at online retailers like Amazon and BN.com.)

“I think a lot of authors are looking at self-publishing as a way to perhaps make a certain amount of money sooner rather than later,” Mr. Shear said. “But a publisher provides an extraordinary amount of knowledge into the whole publishing process. We have the editors, we have the marketers, we have the art directors, we have the publicists, we have the sales force. And they can go out and get Amanda’s books to a much, much bigger readership than she had been able to get to before.”

That was what made Ms. Hocking seek a traditional publisher, she said, after months of hearing from readers who were frustrated that they couldn’t find her books in stores. She was also tired of spending time formatting her books, designing covers and hiring freelance editors — all tasks that fall to the self-publishing author.

The first book in the series is scheduled for release in fall 2012, a spokeswoman for St. Martin’s said.

Ms. Hocking’s legions of fans were so shocked by the news earlier this week that she was shopping her books to traditional publishers that she felt compelled to explain herself on her blog.

“I want to be a writer,” she said. “I do not want to spend 40 hours a week handling e-mails, formatting covers, finding editors, etc. Right now, being me is a full-time corporation.”



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Ms. Hocking’s legions of fans were so shocked by the news earlier this week that she was shopping her books to traditional publishers that she felt compelled to explain herself on her blog.

Some of her fans thought of Amanda as an author thumbing her nose at the traditional publishing industry. Now I wonder if they will abandon her, call her a sellout?
 
I've self published before. The first time was probably because I was young and impressionable and didn't know how to get an agent or attract a traditional publisher. The second time, I didn't even try to go traditional road... the self publishing process was just so darn easy I went with it again.

I basically broke even with the first and have a long way to go with the second, but I'm happy enough with what I've gotten out of it. It lets me do what I love and share finished products.

My next step is to look into self publishing with amazon.com.
 
Self publishing

I enjoyed this post you started Hugh - Thank you! I think if you've written something worth reading and find you're hitting brick walls with the traditional publishers (let's face it, supply exceeds the demand big time here) why not go the self-publishing option. If you have the marketing skills and are prepared to put the effort into getting your name and your book out there, go for it I say. Another option is joint venture contracts. I am on a joint venture contract with my publisher, where as soon as I hit the 100 pre-sales mark, the publisher markets the novel through their distributors - I'm very happy with this! I have actually enjoyed the process of learning all about marketing. It has inspired me to venture out of my comfort zone and get myself and my name out there. I have met many interesting people, other writers and have learned so much! :flowers:
 
The Economics of Self-Publishing an Ebook

My prejudices against self publishing are being destroyed. There have always been a few cases of self pubbed authors able to make a living, but they were few and far between. Almost every day there is a story of a new self pubbed author hitting it big, mostly from Amazon's Kindle site, and I remember one story of an author hitting big on smashwords. It's obvious that a paradigm shift is happening in publishing, but it's happening faster than I thought it would. The above linked blog says that Amazon now sells more e books than print books. Maybe that's because the stats are skewed from the Kindle Christmas season, but even if it is, it still shows ebooks are gaining momentum very, very fast.

I agree and I definitely want to maintain the standards of a reader. As a self-published author, sometimes I'm wondering how low I need to sell my book to make a sell. Something I'm not even sure.

Parker
 
I've recently ordered the new Kindle, but I've not yet read an e-book. The screen looks clearer than that of a computer and I believe its easier on the eyes. However, as I am also a writer of both short stories and novels I'd be interested to hear how one sets out on the path of publishing books on Amazon or any other e-book publishing site. This is a very new thing in South Africa and even long standing members of my writing circle don't know anything about it. ...So, is there anyone out there who can give me some pointers??? Zingi
 
self-published ebooks

I just purchased a nook at Christmas time and I found all these books that I love! I am reading Foolish Games by Leah Spiegel right now. I just got done reading Amanda Hawkins and Gammie Haliday. All great authors that are self-published.
 
Just a couple of years ago I felt absolutely certain that ebook self publishing would go nowhere. Then I started thinking that maybe a few people can make a go of it, and now here I go again conceding more ground - a significant number of people are able to make a comfortable living self pubbing ebooks. The lecturer who wrote this piece is even changing her lectures to reflect the changing landscape.

The New Midlist: Self-published Authors Who Earn a Living | Publishing Perspectives

I still ain't apologizing for all of the self published authors I derided back before ebooks started taking hold. A lot of them wrote pure and utter crap. They self-pubbed simply because no reputable publisher would touch their crap. Self pubbers of today are making a business decision, not a decision born of self denial and delusions of writing competency.
 
The Economics of Self-Publishing an Ebook
The above linked blog says that Amazon now sells more e books than print books. Maybe that's because the stats are skewed from the Kindle Christmas season, but even if it is, it still shows ebooks are gaining momentum very, very fast.
Ebooks is the future. It doesn't surprise me. The statistics will be including free books that pushes the sale numbers higher. So stats may not be skewed.
 
Another self pubbed e-book author scores a book deal:

Self-Published Author Scores Four-Book Deal - GalleyCat

Self-Published Author Scores Four-Book Deal

By Dianna Dilworth on August 4, 2011 4:54 PM


British writer Louise Voss had a hard time selling her novel Catch Your Death to literary agents, so she decided to self publish her book in the Kindle UK Store. Hoping to attract readers to an unknown author, Voss priced the eBook at the low price of £0.95.

The low price helped Voss’s book climb the Amazon charts. eBookNewser has more: “The eBook is currently No. 4 in the ‘Suspense’ category of the Kindle UK Store. According to the London Standard the book held the No. 1 position in the Kindle UK Store for the month of June where it sold 50,000 copies.”

These sales soon caught the eye of a major publisher. The London Evening Standard has more: “It attracted the attention of publishers HarperFiction, which offered her a six-figure, four-book deal. As a result, her ebook Catch Your Death will also be printed and stocked in bookshops in the traditional way.”

Voss wrote GalleyCat with with an important update: “The two thrillers were co-written with my friend Mark Edwards (@mredwards), and the HarperCollins deal is a joint one for us as a partnership. It was Mark’s idea to put the books on Kindle, and he came up with all the good marketing ideas! The recent press has been more focused on me as a press release went out from the Uni where i did my Creative Writing MA — but it’s been rather unrepresentative of the true facts: that we’re an equal partnership: Edwards and Voss. I feel bad he’s not getting the credit he’d due!”
 
A search for Darcie Chan turned up no results, so I'll just tack this post into this thread. She self pubbed The Mill River Recluse last year and it sold so well it made the NYT and USA Today best seller lists. I clipped an article about her in the Wall Street Journal last December and checked up on her book page at Amazon today. She has over 900 reviews now, 496 five star and 79 one star. Her book is still highly ranked in three different Amazon categories. The Mill River Recluse: Darcie Chan: Amazon.com: Kindle Store

I read the first few lines using the Peek Inside feature, and I have to say that I was not impressed, the prose smacked of someone trying to write elegantly. However, the results speak for themselves.
 
I've self published because I definitely have a unique perspective on things that people need to see but I wasn't about to beg a publisher for a chance
 
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