Hugh Howey’s done it again. He’s been championing the self-publishing cause and, the valid business case behind it, for years but now he finally has the bullets to feed his ‘publishing industry’ facing canons. If you’re a writer, or even thinking about writing, then you need to read this website:
A mystery statistician has contacted Hugh with a goldmine of information regarding the entire publishing industry. For years, the problem with any self-publishing validation has been the numbers to back it up. As a writer, it’s been unclear if you should self-publish or go the traditional route and the decision-making has been based on anecdotal evidence. Finally, two days ago, this has changed.
The attached website has used all sorts of data from Amazon to build assumptions on how much an author is likely to earn on average via the various routes to market. I encourage you to go to the website and read exactly how this was achieved but suffice to say that the conclusions are eye opening.
You will draw your own conclusions from the report but, for me, the most encouraging statistics were the following:
- Genre Fiction (Mystery/Thriller, Sci-Fi/Fantasy, Romance) makes up 69% of ebook sales on Amazon; Non-Fiction is 22%. The rest is just small change.
- Out of that 69%, the majority (35%) of these are from indie authors.
- 86% of genre bestsellers are sold in ebook format
- In all price brackets, indie authors earn more on average than ‘big five’ authors.
- An author is likely to make more money being self-published than traditionally published. FACT.
That last one’s the big one. Self-publishing in it’s newest form is only a few years old really. Just imagine what these numbers will be like in ten years time when indie authors have back catalogues of ten/twenty books to their name. Boom.
All of the statistics that have been drip-fed so far have been so heavily skewed by traditional publishers that it’s been hard to feed off the statistical scraps from the table. This analysis is a real game changer.
I like the fact that Hugh, in his report, has reiterated that self-publishing is certainly not a ‘get rich quick’ scheme, but if you persevere you simply have more chance of making it on your own. That has to be good news for any author.
Until next time…