Blogger: Mary Keeley
Location: Books & Such Midwest Office: IL
The continuous evolution of e-book publishing and its surrounding causes and effects warrant occasional updates. What do the latest shifts mean for authors and publishers? Here are two newsworthy comments:
- As of its post on May 2011, Amazon now sells more e-books than print books, according to Jeff Bezos, Amazon’s CEO. They were hoping for this but never expected it to happen in less than four years.
- Steve Haber, president of Sony’s digital reading unit, predicted in 2007 that it would take ten years for e-books to outsell paper books. Last year he said, “Three years ago, I said within ten years but I realized that was wrong – it’s within five.” I’ve seen several other quotes that corroborate his revised estimate.
When charting new waters, it’s to be expected that there will be some reluctance, maybe even distrust, and that certainly has been true with e-books. For example, authors generally are disappointed in the 25 percent royalty rate that has become the standard in the industry for e-book sales. Perceptions are that publishers are unfairly claiming the bulk of savings in creating e-books rather than print books.
But wait, the publishers see the situation differently. Brian Murray, CEO of Harper Collins, is quoted on TheBookseller.com: “When we looked at our print royalties, we saw they averaged about 16%-18% so we knew we could afford to pay a higher royalty rate [for e-books]. That was almost a 40 percent increase in the royalty rate. There is a lot we can do to give readers additional value, such as enhanced e-books. Because they sell for a higher price that is, in turn, going to raise the pay for authors.”
A lot of authors would argue with Mr. Murray’s perspective, and publishers are under pressure by agents to increase the e-book royalty rates. It’s all a roller coaster.
Rachel Kent posted an important series of blogs last week about putting the C (Christian) back in CBA. As Christian publishers: 1) observe the effect Amazon Publishing may cause for ABA publishers (which I wrote about in yesterday’s post); 2) respond to the competition with independent e-book publishers (55 such publishers listed in a Google search but surely more than that exist); and 3) uphold Christian ethics, I trust they will be motivated to make deals that are a win-win for both parties. Christian publishers are rushing to find a model that will keep them profitable through several waves of change taking place simultaneously, while also attracting—and retaining—authors. We look forward to that happening. They are the guardians that ensure the Christian message is told.
The thing that remains the same is the content. While the delivery method continues to evolve, great writing will always be in demand. Keep growing and writing great books, and you will have increasing options to get them out to readers.
How do you feel about the 25 percent royalty rate for e-book sales?
Have you signed a contract that has a higher or lower rate? (Don’t give the name of the publisher or disclose any contractual terms that are proprietary!)
In your dreams, do you still see your next published book in a print version?
Not until an hour ago did anyone (my editor) even inform me that my books are now available from Amazon in Kindle editions. I never signed a new contract concerning this. I better go back and see if my original contract included a contingency for this percentage!
The e-book roller coaster just adds to the roller coaster that the writing life already is. I don’t have an e-book contract (or any book contract), but the 25 percent sounds low. I get much more, or course, on my e-self-published non-fiction title. Also of course, I’ve got to personnally sell every copy that sells, just as if I were selling them out of my trunk. It’s hard slogging in the e-book world. At least for me it is.
I still hold to the dream of having a traditionally published, paper book. In a few days when I hold the proof copy of my CreateSpace non-fiction book, it will be a good feeling, but not as good as I hope to feel someday with a book of mine published through a royalty publisher. A dream, a daydream, or a fantasy?
Frankly it is a bit of an insult. If one self-publishes through the Kindle, Amazon takes between thirty and sixty-five percent of the sales, depending on how much the book is sold for. Which still offers a much, much higher return for the author even at the lower percentage royalty rate Amazon offers.
So in a scenario where an author sells their book at $2.99 or higher and gets twenty-five percent, Amazon takes thirty percent, which means the publisher takes forty-five percent for neither writing the book nor creating the retail service the book is sold through, earning that percentage on….making a nifty cover?
And the industry wonders why it is in trouble…
I think the question about a physical book depends on who is asked. If a person has a Kindle in their hands and are reading what I wrote, are they not holding the a physical copy, just not a paper version?
And since my latest projects are aimed at demographics more likely to own an e-reader, I feel that it is more important that the book is in their hands, regardless of the form it is presented in, than satisfying my own ego every time I look at my name on a book cover on the shelf.
I have also come to adopt this view by how literary journals are changing. “Online only” is the route many have recently taken, thus it is simply part of how one must interact with the publishing world already for writers like myself.
I agree that Christian publishers need to find out how to navigate this new era. The thought of Amazon, a publicly traded company, being the dominate e-book publisher and imposing self-censorship by deciding that certain content is “too Christian” and might upset certain interest groups and thus lead to boycotts is awful. Of course, not that the CBA is free of self-imposed censorship, but hopefully a better understanding of content in relation to context is one of the great changes that can come from the digital era.
My answer depends on what the book sells for. If it is 99 cents, 25% is pitiful; if it sells for $9.95, 25% is acceptable; if it is $16.95, 25% is great.
Philosophically, I don’t care in what form the book is sold in, as long as the revenue is reasonable.
Emotionally, I have a need to see my book in print; it makes it more real and viable.
Futuristically, I have a sense that a printed book will outlast it’s digital counterpart (despite an e-book requiring only virtual storage and being able to be backed-up). So if I am hoping for a legacy and seeking to affect future generations, I want printed books.
In my dreams I do see my book in real, live print.
As much as I love my kindle, I also love the feel of a book in my hands.
To me, 25% to the creator of the product does seem low. Since all of my work to date has been self-published in a digital format, I don’t necessarily long to see a book printed on paper (though I will admit that it’s been a kick to hold paper copies of the books I’ve helped illustrate).
I concur with others who have said that the goal is to minister and to tell stories. It seems possible to me that the “best” way to do that could vary depending on the material and the target market, and I’m open to whatever means will accomplish the goal.
I see my next… cough, cough – okay, my first book in the hands of readers. How it looks/feels in that space is kind of immaterial.
Sure, I’d like to hold a physical copy, sign my name on the opening page with a dramatic flourish and get lost in that smell of freshly printed paper. But how cool is it that blogs and social media allow us to connect us with our readers seconds after they’ve finished the work? Think about the incredible potential of enhanced ebooks, especially for kids and teens.
I’d also have to punch the numbers a little more before making a comparison (of print and digital royalties). Is marketing an e-book less expensive (no travel costs, time spent in bookstores, etc.)? Is the risk of loss less? A full look at both scenarios would be necessary for me… but honestly, 25 percent doesn’t sound too bad 🙂
@Rick – Gunner’s Run is available on Kindle??? Cool. I’m off to check it out.