There’s a new Author Earnings report out this month, and for me, that’s a chance to reassess everything you’re doing as a writer, and perhaps, to readjust your plans for the future. It’s hard to obtain reliable information about the publishing business, and every source has flaws, but I believe the information collected by Author Earnings is the most reliable we have, and certainly better than the info from AAP or Bookscan or other sources that don’t track Amazon sales. Granted, that’s tough to do, since Amazon doesn’t release its sales figures. But any accounting that ignores the retailer that sells more than 50% of all books sold in the US, and an even greater percentage of all eBooks, is inherently untrustworthy. Authors Earnings, using its advance computer-bot data-gathering techniques, counts everything.
Here are the three main takeaways from this month’s report:
One: In the five primary English-speaking countries, indie self-published books outsell the Big Five New York publishers.
When you’re doing the math, remember to add the sky blue (indie books) to the cyan (uncategorized, probably self-published). Independent authors are doing better worldwide than most people realize. Also note the increased growth of Amazon’s imprints. Amazon is the fastest growing publisher in the world.
Two: eBooks are still selling, and they sell far better at Amazon than anywhere else.
eBook sales did dip around May of last year, but they rebounded and are slowly growing again. As this chart makes clear, Amazon sells far more books than anyone else, but the other three are not insignificant. Which leads to the third topic…
Three: The answer to whether it’s best to have your books exclusively with Amazon, or to “go wide” (my wife calls this, “playing the field”), is still unclear. Amazon sells more books, and exclusivity does have benefits, the most significant of which is participation in Kindle Unlimited. KU allows members to “borrow” your book at no additional charge. The author gets paid based upon pages actually accessed by the borrower.
The plus is that many will borrow who would not buy. According to Author Earnings, “KindleUnlimited has grown into a Top-3 ebook retail channel in its own right; KU is now paying indie authors twice as many dollars as Barnes & Noble’s Nook is paying to all publishers combined.” That said, you have to wonder how many of those people would’ve bought the book (at full price) if they couldn’t borrow. Even if it’s only a fraction, you might make more in royalties.
And there are always risks in being dependent upon a single market. What if Amazon’s eBook sales dip again, even more precipitously? Or Amazon changes its policies on author compensation? Being visible, and taking advantage of promotions, on a variety of platforms may increase your visibility. It will also increase your ability to get value out of marketing promotions like Bookbub. I have friends who have told me they are getting something like a quarter of their sales from B&N.com or a combo of non-Amazon sites. (Of course, that only comes with active promotion.)
I wish I had a definitive answer here, but I don’t. My recommendation? Experiment, and see what works best for you and your books.