If they have good product, many first time indie novelists can and do
make trad pub advance numbers.
LK — A lot of agents and publishers are
making trad pubbed authors do this stuff.
So as I survey the landscape, I'm thinking to myself, if I have to do all the work myself anyway, what
makes trad pub such a great draw?
Not exact matches
I
make my living from writing, actually, with a mix of indie and
trad pub stuff, but there are people who are far more skilled than me who don't, and people who stink who
make a lot more.
For example, if you are dead - set on going
trad -
pub, the chances of you
making enough money in the beginning is fairly remote.
This is how I sold my first several books and how many of my
trad -
pubbed friends broke in to publishing and I have long believed it's the best way to
make contacts.
When you think about it, it
makes sense: back when
trad pub limited us to one book a year per author, there were still plenty of people who became fans of Terry Prachett, Mercedes Lackey, Patricia Briggs and David Weber.
When authors stop signing contracts and then announce they are
making as much, if not more, by selling direct to their customers (via Amazon / iTunes / etc), will those remaining
trad pub authors still toe the line and defend their masters at all costs?
Trad pub authors also used to
make it very clear that they didn't consider ebooks «real books».
If you wrote and published just a little bit more and did some of these as self -
pubbed books at a lower price range to go along with your
trad pub deals, I'll bet you could
make a lot more.
And the Ilona Andrews self
pub book has done well, but likely has not
made as much as advances on Ilona Andrews
trad published books.
I know of very few
trad pub authors who
made six figures on their first novels.
My latest idea: (1) query agents because I already wasted all of that time on those days I had writer's block researching agents & writing a synopsis, query letter, book proposal THEN (2) if I don't get any takers at
trad -
pub within a reasonable period, I self -
pub because I already wasted all of that time on those days I had writer's block researching book bloggers & reviewers, building two websites,
making or editing videos & writing tweets, Facebook posts, blogs.
Your
trad -
pubbed book may only
make $ 1000 - $ 3000, but it can be a «loss leader» like those indies» perma - frees.
The difference in income between successful traditionally published authors and successful self - published authors is getting narrower each day, with many self - published authors now
making much, much more than their
trad pub counterparts.
Editors being let go by
trad pubbing houses are
making better livings working free lance for self - pubbers — and God knows the
trad pubs» offerings need them back.
It would also be great if Author Earnings could study this, and compare the money
made by a
trad pub author in libraries vs an indie author's, and also the raw numbers of books
trad published in libraries vs indie published.
Pretty sure I'd choose to
make a black and white change from the
trad pub titles to my own
pubbed titles.
In other words, the above graph should not be ostensibly read as whether
trad pub or other markets are more profitable to the author, or whether
trad pub is an altogether losing deal, but as which economic model —
trad pub or otherwise —
makes the most business sense.
I'm solidly mid-list, and I have
made more in royalties than my
trad -
pubbed friends even with their advances.
I've self -
pubbed 8 works and
made more money than I had been offered by
trad pubs in the past.
What's more likely is that they focus on their own Thomas and Mercer brand,
making it successful, and push the offerings of the
trad pub world, because they
make more, and because those are likely higher quality than most of the indie stuff.
But fact is, Amazon is the only game in town for most right now, and until that starts to change, a modification of the algorithms favoring
trad pub like that just
made is ominous, and will carry immediate business consequences for most.
Now that
Trad Pub capitulated, problem solved, and everyone can return to
making money —
Trad Pub still can retain the power as gatekeepers that will maintain their effective monopoly over content, Amazon gets to
make lots of money and satisfy their lower priced segment with its own offerings, and indies can scrounge for pennies.
It's like the
trad -
pub midlist, only the indie midlist author (typically)
makes more money.
But more importantly, indie authors have forever to
make that money, whereas
trad -
pub authors have a few months to Launch Big or get pulled from the physical shelves.
Since then, it would appear that the
trad pub houses are playing ball with Amazon, so Amazon doesn't need an ocean of indies
making nice livings anymore.
So I know things will take a dive when I
make the move out of Select... but it's okay, I'll be ready because I'm building deep with developing a loyal, engaged reader base and capturing them on my email list,, building broad by reaching into new markets (audiobooks,
trad pub deals, film and tv) and high by developing new projects in new genres.
Pulp fiction was where authors started out because it paid less than «traditional» markets (they were mostly short stories), but with indie novels, I think (some) authors are
making more money than comparable traditional publishing contracts (and I see some
trad -
pub authors supplementing their income with self -
pub, which is also similar to some of the pulp fiction writers of the past).
It's interesting that the
trad -
pubs didn't want anything to do with indies until we started gathering followers and
making money.
Anyway — thanks again for writing such a good article, it's certainly food for thought; and has
made me even more glad that I decided to stick with the self - publishing instead of chasing the
trad pub dream, ha ha!
I second the points
made by Ramez Naam about the
trad pub income streams that aren't reflected here.
It might also be interesting to take one genre (because of the amount of data) and use a larger depth to see if indies at the lower end are
making more than
trad pub authors at the lower end of the rankings (since many of us sit down here too!)
Every author, depending on popularity, needs a different number of titles to
make and maintain a living doing this, whether they are
trad pubbed or indie.
My point is that self - published writers aren't posing any threat to traditionally published writers, but
trad -
pub tend to
make self -
pub feel very bad when their paths cross.
Pricing self - published books under $ 5 gives them an advantage over
trad -
pub books on price, which helps
make up for the disadvantage of being a relatively unknown author.
My feeling is that the connectivity between authors and readers is improving (just by my «recommended for you» list)-- which means that those without much connection... which is not a small number (both indy and probably moreso,
trad pub) will be «disposable» — but those who
make connection with readers — not publishers — will not be.
Amazon's Scout program
makes it easy for newbies to give the whole
trad -
pub contract thing a whirl and has a far - higher conversion and success rates than others, like the now - defunct Harper Collins Authonomy.
It does
make me wonder though, how eager were the
trad pubs to adopt electronic manuscript submissions and take advantage of electronic distribution of advance reader copies?
I'm a little late to this party but... this is one of the things the self -
pub committee is working on for SFWA: we want to
make the organization a brand where people can go to find
trad, hybrid, and indie writers with proven track records, writing in the genres they already know they love.
Even long - time
trad -
pubbed authors who think they know the ropes can
make fatal errors because self - publishing has a different set of rules.
A well established company in the publishing industry who does professional reviews for free (they might
make money otherwise) for
trad -
pubbed work but ask for over $ 400 to review Indies.
With midlist advances plummeting,
trad pub novelists need to sell several novels per year to
make that, these days.
Interesting tidbit — almost as many SP writers
make this amount as
trad pub writers.
A growing number of
trad -
pub new books sell less than 1,000 copies in their first year (which usually means in their lifetime, since print books
make most of their sales on the first couple of months since release).