The friendly folks at Author Earnings have taken it upon themselves to measure how much we’re making-at least if you’ve published anything, which I have not (yet- stay tuned, yung’ns). And a look at this says that if you’re an Author Going On Your Own (AGOYO), the bag is mostly good, but some data is still incomplete, IMO.
First, the bad: Indie book sales per title dropped from a high of $4.26 in October 2014 to $3.87. Some people might say this is great, lower prices=more sales, even if you give away the occasional freebie.
BUT (and there’s always one of these) the average e-book sale price of:
small/medium publisher- $9.53, down from $10.81 in October 2014
Amazon Imprint- $4.29, up from $3.95 in February 2015
Big 5 publisher: $9.83, higher than $9.58 in February 2015.
So while the authors who actually had their book published “legitimately” saw there average price per sale go up, indie sales went down. This isn’t great, because this is the average price for what people actually paid, sans freebies. A lot of this is due to authors who can “box” their books, 3 for 99 cents. This may drive total sales, but the cost per e-book is dropped way down. So what’s the actual sales volume?
Small and medium indie publishers really took it here!
This chart is significant. For the first time ever, 2015 saw the year where Indie sales actually surpassed the collective sales of the “Big Five”. But this is what happens when you charge $12.99 for an e-book, which is merely a digital file. B&B understands the need to pay for more than one editor, book cover designer, etc., but that is a LOT for an e-book. The authors least bothered? Those who earned success in the pre e-book era (pree-book)
This is one of the charters I was looking for. Rather than a pie chart which just compares slices of pie versus the total sum, this one shows that every day, indies are selling about 370,000 books, about 100,000 more than “Big Five” published authors. Figure in the high pricing of the e-books.
Author Earnings has their own take on it, which you can read on your own. Here’s the B&B spin:
First, AE is missing one thing- total sales split between the bestsellers and total. The reason we need to see this is to know how much bestsellers are bringing up the market. While 370,000 a day is insanely good, what if the top 25 indies are selling 60% of that. Suddenly the numbers don’t look so appealing to the rest of us. The same with the other published- how many sales are by the bestsellers, versus the rest? I’d like to see that. I have a feeling more than half of total Big Five sales are from the big names and not the midlisters.
Now, to play devil’s advocate, the trad-pubs still have a lot to offer. Since many people still buy print books, medium and larger publishers still have that market cornered since most indies are not very good at handling their own shipping and distribution network. Book translations? Big pubs can take care of that faster than you can, and at no immediate cost to you (though the QUALITY of translation remains to be seen). Want to see your movie on the big screen? While a small number of indies have made it, the largest share of books-to-movies comes from trad-pubbed books. The biggest blockbuster franchises, besides 50 shades, are all trad-pubbed. Indies make a lot of money by quantity more than the other models have.
But the reality is in: cheaper, affordable e-books, written by people who have great stories and were simply not given the time of day by lit agents or publishers, are what readers crave. Authors who can connect with a loyal audience do much better than those who barely acknowledge their fans, except maybe for the occasional retweet or Facebook like. Authors who offer some promo item, whether a “buy 2 get 1 free” deal or a piece of merchandise with every print sale, can engage much faster and more efficiently than when your work is being managed by someone who has one too many authors to promote, and all of them are more famous and respected than you. Also, I am still amazed by how incompetent the publisher’s marketing is. The number one challenge is not to redistribute the wealth, but grow that pie of people reading for pleasure. Put me in charge and you will see book sales increase as I go out to engage kids and adults who might try a book 5 hours a week instead of more Netflix shows.
Finally, to quote from Author Earning’s October 2014 report:
“What the data tells us, then, is that self-publishing is just as viable as any other form of publishing. Perhaps more so. No one can halt your career because an early title underperforms expectations. You get to hire the editors and cover artists you want to work with. You get to write whatever you want and publish whenever and however often you like. And you can publish every which way. Self-publishing used to close you off to other avenues, now it simply opens them up. Many authors publish in several ways simultaneously.”
“Every author will need to find their own path. There is no one right answer. If there’s anything the data tells us, it’s that readers are starving for great stories at fair prices, and whoever can deliver that consistently has a chance at earning income doing something they love. Maybe not a great chance at earning a full-time living, but a better chance than at any other time in human history. And that must be celebrated, however you crunch the numbers.”
So if you are indie or represented by a small/medium publisher, you could pop the bubbly right about now. While I do not cheer for the demise of the larger publishers, they had it coming. Without being able to tell the reader why one story was better than the other, their high-priced model faltered. Without being able to properly measure quality and an author’s ability to generate sales volume, rather focusing on the already-built “platform” which the author had without the publisher’s help, they struggled to move books. Without the appearance of customer-friendliness as opposed to selling to bookstores and wholesale distributors, they saw their numbers fall.
So if you’re indie, congrats. If not…I sincerely hope your book is getting turned into a movie or tv show soon. Like this author, whom I like a lot.
all graphs in this blogpost were originally published by AuthorEarnings.com