Wednesday, January 26, 2011

The Ebook Gold Rush

Lee Goldberg here:

I've got a new guest post up on Joe Konrath's blog charting my Kindle experience...and the complete change in my thinking about ebooks. What changed my thinking? The money, pure and simple.
This January, if sales continue at the current pace, I will sell about 3100 books this month and earn $6600 in royalties.

That’s a 166% increase in sales and a whopping 751% jump in royalties.

In just one year.

On out-of-print books that I wrote years ago that were earning me nothing before June 2009.
If those sales hold for the rest of the year, I will earn $77,615 in Kindle royalties, and that’s not counting the far less substantial royalties coming in from Amazon UK, Smashwords, Barnes & Noble and CreateSpace.

Even if my sales plummet tomorrow by fifty percent, I’ll still earn about $38,000 in royalties this year…and I’d be very, very happy with that.

My most profitable title, in terms of hours worked and pages written, is THREE WAYS TO DIE, a collection of three previously published short stories. In print, it’s a mere fifty-six pages long, but it’s selling 24 copies-a-day on the Kindle, earning me about $1500-a-month. That means I could potentially earn $18,000 this year just from those three short stories alone.

That is insane.

But what would be more insane is if I took my next, standalone, non-MONK book to a publisher instead of “publishing” it myself on the Kindle.

That’s right. I’d rather self-publish. This from a guy who for years has been an out-spoken, and much-reviled, critic of self-publishing. But that was before the Kindle came along and changed everything. I was absolutely right then…but I’d be wrong now.
Yes, it's happened. I have become a complete convert to self-publishing and the Kindle. Find out more...and why I think Top Suspense is so reading the whole post on Joe's blog.

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