Self-publishing: the good, the bad, and the ugly
March 24th, 2017 by Bob Bly
Whenever I mention that I prefer traditional publishing to
self-publishing, two things happen.
First, I get a slew of e-mails from writers telling me
traditional publishing is awful — small advances, low royalties,
and publishers not promoting their books.
Second, I get another flood of e-mails from authors telling me
that they or other self-publishers are “crushing it,” making
money hand over fist.
They often cite Amanda Hocking, who has sales of over $2.5
million for her self-published Kindle e-book.
But according to a survey of 1,007 self-publishing authors by the
web site Taleist, conducted by Dave Cornford and Steven Lewis in
2011 (yes, it’s a bit dated), the truth is quite different.
“The majority of the information out there is about the outliers,
whose success is inspiring, but as we can now confirm bears scant
resemblance to the experience of most authors,” said Dave
Cornford and Steven Lewis.
According to their survey, half of self-published authors make
less than $500 a year.
That’s because, as reported in a 2015 article by Chris McMullen,
the average self-published book sells less than 250 copies.
Derek Murphy, an expert in independent publishing, says, “The
average self-published author spends $2,000 to $5,000 to publish
their books, and few earn any money.”
If you spend two grand and sell 250 copies, you are losing a lot
of money on your self-published book!
By comparison, in traditional publishing, the money flows from
publisher to author, even though advances are much smaller today
than when I started writing books 25 years ago.
The mainstream publishers not only give you money up front; they
also pay for everything, from printing and cover design to
editing and proofreading — saving you a considerable amount of
cash.
The bell curve for self-publishing is skewed, with less than 10%
of self-published authors earning about three-quarters of the
total revenues from sales of self-published books.
The average self-publisher from the group surveyed by Taleist
earns just $10,000 a year.
Notice also that many self-publishers with good sales, from El
James (“Fifty Shades of Grey”), Robert Ringer (“Looking Out for
#1”), and Roger von Oech (“A Whack on the Side of the Head”)
either immediately or eventually look for and get a deal with a
mainstream publishing house.
Take note: I am not saying mainstream publishing is great or the
better way to go.
My purpose here is to just present some cold, hard facts for all
those self-publishing cheerleaders I constantly hear from to
ponder — and to inform the rest of us about the good, the bad,
and the ugly of being your own publisher.
This entry was posted on Friday, March 24th, 2017 at 9:26 am and is filed under General, Writing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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October 5th, 2023 at 1:58 am
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October 18th, 2023 at 3:03 am
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November 20th, 2024 at 12:57 am
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