The water cooler talk around ebooks and self-publishing is that revenues for self-published authors are falling and it’s not just for authors in the Kindle Unlimited program.
For those who don’t know: Kindle Unlimited works like Netflix Streaming. Readers pay a set fee and can read as many books available in the KU program as they like. One fee, limited choice, unlimited reads.
One of the reasons that self-publishing took off as well as it did was because there was a bunch of voracious readers out there who could tear through a book a day, and they liked buying cheap books. With the sales commission that Amazon took (do not speak to me of “royalties” from Amazon), authors could do pretty well with this readership. Some did very well indeed.
And those authors grew to love Amazon and Bezos himself for fixing the distribution issues that have long limited self-published work. But of course, that quote in the subject header is from Bezos himself, and everyone knew the sweet payouts that Amazon’s been turning over to indie authors would come to an end soonish.
Now it appears to be happening. Instead of taking a commission, Amazon has started setting aside a pot of money, and dividing it between authors. Bringing new readers into your series by making book 1 permanently free isn’t really viable any more, since so many of those readers are in KU. Instead, self-publishers are releasing shorter and shorter works–or serializing their novels–to increase the number of shares they get in that pot.
Still, it appears that Amazon has skimmed off self-publishers’ most fervent readership. Instead of taking commissions, they offer what they like. So much for our margins.
I’m not sure how this affects me. I’m not really aiming for the readership that likes them cheap and disposable. I can’t; I’m not prolific enough. I have to price my work a little higher and hope to attract readers who see my books are more of an event. If I’m aiming for the “This is affordable; I might as well” crowd, I’m doomed. (Those readers are welcome to give my books a try, I encourage it! but I doubt they will in great numbers.)
Not that there aren’t other options: Nook, Kobo, iBooks, Indiebound, etc etc. Right? Except that, speaking for myself, the majority of my sales come through Amazon’s Kindle program. (I should do a post on that.)
The problem, I think, is not that there’s a glut of terrible books. There’s also a glut of really good books. I’ll never be able to read all the awesome books in the world, even if I did nothing else for the rest of my life. Even if your book is great, it can be difficult to catch the attention of new readers.
Which means it comes back to discoverability, and reaching the “early adopters” of the book world–those readers willing to try an author for no reason other than they like the cover or the title. If those readers are giving their credit cards a vacation by turning to Kindle Unlimited, some new way must be found.
At the moment, the only genuinely reliable method is reader word of mouth, which is the least-new thing about new developments in publishing.
Read more on this.