What a terrific article! I met with author Michael Angel over the weekend we discussed this very issue. The publishing legacy has become so unmovable on their book pricing that, IMO, they are pushing people away from “their” authors and encouraging them to move to self-published authors instead. Honestly? I have found that some of the self-published authors write more interesting, stronger books than the “name” authors. Stephen King and Dean Koontz seem to be writing the same books over and over again, much like a machine stamping out the same thing over and over again. And as much as I get frustrated with self published authors who are sloppy with their editing, the fact that I am finding so many editorial errors in legacy books means that it really doesn’t “pay to pay” for legacy book authors any longer. I download a ton of self-published books and, while I am often disappointed, especially with editorial issue, I am often thrilled to find SP authors who are absolutely amazing writers who I then begin to follow and read consistently.
I find it interesting that they consider ““Making money” here means selling more than one million e-book copies in the last five years.” to be the line. As this article points out extremely well, there are hundreds of thousands of authors out there, publishing on Amazon. That problem, getting your book out there and getting it noticed, is to me the most difficult issue with self-publishing. The “40 author” phenomenon will be hard to break until SP authors are able to learn, and take advantage of, all the marketing possibilities in a consistent manner.
I look forward to watching what happens in the coming years!
The cat is out of the bag, finally we know exactly how many self-published authors make it big: 40.
Yes, that’s not a typo.
40 self-published authors “make money”, all the others, and they number in the hundreds of thousands, don’t. This interesting statistic, recently revealed in a New York Times article, applies to the Kindle Store, but since Amazon is in fact the largest digital publishing platform in the world, it is a safe bet that self-published authors are not doing any better elsewhere.
“Making money” here means selling more than one million e-book copies in the last five years. Yes, 40 authors have managed that, and have even gone on to establishing their own publishing house, like Meredith Wild. Her story is fully reported in the New York Times, here, and well worth pondering over.
That story reveals some further nuggets about the current…
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