Posts
MYTH #1:
INDIE BOOKSELLERS are endangering traditional publishing.
Ah, not so much. Writers on the other hand are in a fix.
Even best selling authors like Rupert Thompson,
whose The Insult David Bowie chose as one of his 100 must-read books of all times,
is facing grim financial times.
Mid-list writers can no longer find publishers to support them.
authors struggle to make a living, and
more than 60% of 18-to-30-year-olds would rather watch a DVD than get their nose in a book.
MYTH #2
THE DEATH OF THE BRICK & MORTAR BOOKSTORE is hurting traditional publishers.
Ah, not really.
The challenge isn't digital:
it is how do you tell people about the next great book.
They have to get to know their readers:
"Where do they hang out, what do they like, how do we talk to them?"
Enter Twitter and Goodreads and Facebook.
All those urban myth stories about Amazon wanting to swat publishers from existence
somehow ignore the fact that
Amazon is only marginally profitable, while the publishers are making a fortune.
Publishers are making more money than they ever have done before.
MYTH #3
TRADITIONAL PUBLISHERS need bookstores.
True,
publishers were finding it increasingly hard to sell in print and to sell right across their front lists.—
But it soon turned out that they didn’t have to, either, or not the way they used to.
The huge margins they made on ebooks more than made up for the loss of print revenues.
The equally huge margins they made on their backlist ebook titles made up for the struggles of the frontliners.
MYTH #4
GOOD eBOOK SALES lead to good print sales.
No.
Why pay $25 for a hardback that you read for $9.99?
Is signing up with an eBook only contract with a traditional publisher wise?
Depends.
The going rate is 25% royalty as opposed to 70% going straight to KDP.
True, traditional gets you a higher profile.
But with a little extra hustle on your part, you will end up with more in the long run.
MYTH #5
SELF-PUBLISHED AUTHORS are “dominating traditionally published authors,”
Sometimes myths are true.
Especially are they dominating in sci-fi/fantasy, mystery/thriller, and romance genres but —
and here is the surprise —
they are also taking “significant market share" in all genres.
MYTH #6
99 cents is the Hot Price.
$2.99 and $3.99 are currently the pricing sweet spots for most e-book bestsellers.
In general, authors who price their books modestly earn more than those whose average price is higher.
By the way, Series Books outsell Stand Alone books.
WHAT DO YOU THINK
SOME INDIE PUBLISHING URBAN MYTHS ARE?
Interesting post!
ReplyDeleteCathrina:
ReplyDeleteThanks for re-tweeting it! You made my cold evening warmer!! :-)
I'm not surprised by the facts, even though the myths can be confusing and contradictory. As you know, Roland my dear, I'm trying now to simply enjoy writing which I can only do by ignoring the publishing end of things, at least for the time being. But I wish you all the luck with your own wonderful books--may they sell like hotcakes.
ReplyDeleteHelena:
ReplyDeleteMyths usually are contradictory and confusing -- like reality!!
Enjoy writing for the process and the pleasure of it. Marketing changes with the seasons.
My books are languishing, but I have had fun writing them. :-)
I don't know any indie myths. Seems like books will always sell regardless of the medium. Music did not stop selling when CD replaced record and cassette.
ReplyDeleteThanks for such an informative article. It gives lots to consider and look into.
ReplyDeleteThank you for visiting and telling me about French Quarter Nocturne.
I would love to review it.
wismomworks @gmail .com
Donna:
ReplyDeleteBut music stores died with Amazon and iTunes ... :-( And for me, jazz will always sound better on vinyl. :-)
Laura:
I'm glad you enjoyed my article. Makes me feel as if my efforts were not in vain. :-)
I have sent you the Kindle of FRENCH QUARTER NOCTURNE ... as well as the audio version of it. Charlie James did a masterful performance of it with all the accents and voices. You can listen on your computer, your smart phone, or iPad. I hope you enjoy it. :-)