When was the last time an author made $6.25 per book on an $8.99 hardcover book?… NEVER!
But, self-published authors CAN realize that kind of money today…on Kindle DTP (Digital Text Platform)…A little improvement in the usual chickenfeed for authors.
I have been devoting some past posts editorializing about the eBook vs printed book race and the growth of the digital book market share…and I feel this press release from the Financial Post further demonstrates the burgeoning self-publishing digital book world (and the publishing-player-field-leveler, if you will):
Amazon.com, Inc. (NASDAQ: AMZN) today announced that the 70 percent royalty option that enables authors and publishers who use the Kindle Digital Text Platform (DTP) to earn a larger share of revenue from each Kindle book they sell is now available. For each book sold from the Kindle Store for Kindle, Kindle DX, or one of the Kindle apps for iPad, iPhone, iPod Touch, BlackBerry, PC, Mac and Android phones, authors and publishers who choose the new 70 percent royalty option will receive 70 percent of the list price, net of delivery costs.
Delivery costs are based on file size, and pricing is set at $0.15/MB. At today’s median DTP file size of 368KB, delivery costs would be less than $0.06 per unit sold. For example, on an $8.99 book an author would make $3.15 with the standard option and $6.25 with the new 70 percent option. This new option, first announced in January 2010, will be in addition to and will not replace the existing DTP standard royalty option.
In addition to the 70 percent royalty option, Amazon also announced improvements in DTP such as a more intuitive “Bookshelf” feature and a simplified two-step process for publishing. These features make it more convenient for authors and publishers to publish using DTP.
“We’re excited about the launch of the 70 percent royalty option and user experience enhancements in DTP because they enable authors and publishers to conveniently offer more content to Kindle customers and to make more money from the books they sell,” said Russ Grandinetti, Vice President of Kindle Content.
DTP authors and publishers are now able to select the royalty option that best meets their needs. Books from authors and publishers who choose the 70 percent royalty option will have access to all the same features and be subject to all the same requirements as books receiving the standard royalty rate. In addition, to qualify for the 70 percent royalty option, books must satisfy the following set of requirements:
•The author or publisher-supplied list price must be between $2.99 and $9.99.
•The list price must be at least 20 percent below the lowest list price for the physical book.
•The title is made available for sale in all geographies for which the author or publisher has rights.
•The title will be included in a broad set of features in the Kindle Store, such as text-to-speech. This list of features will grow over time as Amazon continues to add more functionality to Kindle and the Kindle Store.
•Under this royalty option, books must be offered at or below price parity with competition, including physical book prices.
The 70 percent royalty option is for in-copyright works and is unavailable for works published before 1923 (a.k.a. public domain books). The 70 percent royalty option is currently only available for books sold to United States customers.
DTP is a fast and easy self-publishing tool that lets anyone upload and format their books for sale in the Kindle Store (www.amazon.com/kindlestore). To learn more about the Kindle Digital Text Platform, visit http://dtp.amazon.com/ or e-mail firstname.lastname@example.org
Kindle is in stock and available for immediate shipment today at http://www.amazon.com/kindle.