News New report suggests self-published authors earn more – and their incomes are rising substantially

[Rachel Caldecott]

A new report from the Alliance of Independent Authors (ALLi) claims authors who self-publish currently earn more than traditionally-published authors. In addition, their incomes are rising, while in the traditional publishing sector they are falling.

The ALLi survey questionnaire went out to the organisation’s members and subscribers, plus “other key self-publishing and author organisations” in February 2023. There were more than 2,000 respondents – 60% in North America, 21% from the UK and 8% respectively for Australia/New Zealand, and for Europe.

Based on those replies, median revenue for independent authors in 2022 was found to be $12,749 (£10,229). This suggests self-published authors’ average incomes are rising, with a 53% increase in 2022 over the previous year, the ALLi said.

In contrast, a report into traditionally-published authors’ earnings commissioned by The Authors’ Licensing & Collecting Society (ALCS), published in December 2022, suggested that median writing earnings for these authors were approximately $8,600 (£7,000). This meant there had been “a sustained fall in professional writers’ real terms income from writing over the past 15 years of around 60%”. This had pushed their median earnings down to minimum wage levels, the ALCS said.

The ALLi has commissioned further research from the UK Copyright & Creative Economy Centre, CREATe – which conducted the ALCS survey. Its brief is to expand analysis of the preliminary ALLi findings, particularly in relation to “key demographic groups and factors that contribute to higher incomes.” A full report from this analysis, including demographic data, is to be published in June 2023.

In addition to what I've said before, Amazon offers authors wonderful percentages. Or at least it seems that way. However, back in the real world... Yesterday, for example, I sold a (one) book (Blown out of Proportion) in the UK. The retail price is £9.50. I receive... wait for it... £1.86! But earlier this month someone read it for free with Kindle Unlimited (the author receives a tiny amount per page read), so I earned a further £1.31. Which make my earnings for this month £3.17!! That is pretty pathetic, I admit. Don't worry I can also sometimes earn in double figures (low double figures).
Having said that, I hear of memoir authors who make a ton of money, and much of it is from page reads on KU. They are all authors with multiple books out there. Generally I find those writers the worst. They churn out a book for every single 'event' in their lives (for example we bought some chickens) and it is quite sad, really.

In general fantasy, though, the same thing applies in order to make money. Write to market. Quantity over quality. I left a FB group called 20BooksTo50K because it was too depressing. Those authors have multiple books out and pay off mortgages, buy their kids cars, go on holidays. Ho humm. I encountered a chap there who does very well, he releases a new book every two months. When I asked how he and his editor managed to keep up the pace, he told me he doesn't edit his books ever because his writing is so good it doesn't need any revision. I nearly threw up.

 

[Jake E]

In general fantasy, though, the same thing applies in order to make money. Write to market. Quantity over quality. I left a FB group called 20BooksTo50K because it was too depressing. Those authors have multiple books out and pay off mortgages, buy their kids cars, go on holidays. Ho humm. I encountered a chap there who does very well, he releases a new book every two months. When I asked how he and his editor managed to keep up the pace, he told me he doesn't edit his books ever because his writing is so good it doesn't need any revision. I nearly threw up.

I'd love to know what his marketing strategy is outside of spamming the market with books (or is that it?)
Coupled with actually well written books, it could be a great formula for success. (Unless his strategy is literally just bombardment, then forget i said anything)

 

[Rachel Caldecott]

I'd love to know what his marketing strategy is outside of spamming the market with books (or is that it?)
Coupled with actually well written books, it could be a great formula for success. (Unless his strategy is literally just bombardment, then forget i said anything)

I suspect the latter. But maybe I'm being mean. Perhaps he is a genius.

 

[SarahC]

This is an interesting discussion and certainly piqued my interest re self publishing, which I'd never really considered before. However, I did have to Google "BookTok" so I may not give up my day job just yet . I feel like if I didn't know what it was, I shouldn't be on there (assuming I understood HOW to be on there, which I don't).

I'm not even that old, I was just busy doing other stuff when the good ship social media sailed by in the late 2000s. Now it's too far out to sea and frankly I'm not convinced the world wouldn't be a better place if it were to quietly sink.

 

[E G Logan]

Re: the self-publishing debate, "to self-, or not to self-...?"

I thought I'd check out some advice from practitioners – ideally people making a living from self-publishing – ahead of making a decision.

I read Write. Publish. Repeat. (The No-Luck-Required Guide To Self-Publishing Success) by Sean Platt, Johnny B. Truant with David Wright.

I don't doubt their method is the way to make money from genre fiction; I recommend reading this book. Even better if you can borrow it or consult it in a library.

I salute their work ethic – making money this way takes a real effort, make no mistake – their originality and their willingness to share and advise. But there is no way I will ever be writing anything to compare with Unicorn Western (the first of a nine-book saga), or consulting with my online readers as to how my WiP should end, and encouraging them to vote on it.

 

[Rachel Caldecott]

I thought I'd check out some advice from practitioners – ideally people making a living from self-publishing – ahead of making a decision.

I read Write. Publish. Repeat. (The No-Luck-Required Guide To Self-Publishing Success) by Sean Platt, Johnny B. Truant with David Wright.

I don't doubt their method is the way to make money from genre fiction; I recommend reading this book. Even better if you can borrow it or consult it in a library.

I salute their work ethic – making money this way takes a real effort, make no mistake – their originality and their willingness to share and advise. But there is no way I will ever be writing anything to compare with Unicorn Western (the first of a nine-book saga), or consulting with my online readers as to how my WiP should end, and encouraging them to vote on it.
View attachment 15341

In addition to what I've said before, Amazon offers authors wonderful percentages. Or at least it seems that way. However, back in the real world... Yesterday, for example, I sold a (one) book (Blown out of Proportion) in the UK. The retail price is £9.50. I receive... wait for it... £1.86! But earlier this month someone read it for free with Kindle Unlimited (the author receives a tiny amount per page read), so I earned a further £1.31. Which make my earnings for this month £3.17!! That is pretty pathetic, I admit. Don't worry I can also sometimes earn in double figures (low double figures).
Having said that, I hear of memoir authors who make a ton of money, and much of it is from page reads on KU. They are all authors with multiple books out there. Generally I find those writers the worst. They churn out a book for every single 'event' in their lives (for example we bought some chickens) and it is quite sad, really.

In general fantasy, though, the same thing applies in order to make money. Write to market. Quantity over quality. I left a FB group called 20BooksTo50K because it was too depressing. Those authors have multiple books out and pay off mortgages, buy their kids cars, go on holidays. Ho humm. I encountered a chap there who does very well, he releases a new book every two months. When I asked how he and his editor managed to keep up the pace, he told me he doesn't edit his books ever because his writing is so good it doesn't need any revision. I nearly threw up.

There are self-published authors who take a very businesslike approach (I'm not one). Here is a recent example of what I mean. I should probably take notes.

 

[RK Wallis]

The answer to this, I firmly believe, is to group together. Particularly if you’re a genre writer, you should be collaborating with other writers in your genre to build a collective audience. We’re not in competition with each other, and we don’t have to invent and support our our individual marketing infrastructures, it doesn’t make sense

@Hannah F, want to group together? Any other YA fantasy writers want to group together? We need to start marketing before our books are finished. I know someone with great marketing ideas for Instagram.

This thread is so interesting!

 

[Rachel Caldecott]

@Hannah F, want to group together? Any other YA fantasy writers want to group together? We need to start marketing before our books are finished. I know someone with great marketing ideas for Instagram.

This thread is so interesting!

@Hannah F, want to group together? Any other YA fantasy writers want to group together? We need to start marketing before our books are finished. I know someone with great marketing ideas for Instagram.

This thread is so interesting!

Not me as it isn't my genre, but our own Litopian, @Nikky Lee, could give classes. She did an excellent job of promoting her book.

 

[Jake E]

Could we make some SIG like areas for genres?
So that we can find others in our genre more easily for collaboration?

 

[RK Wallis]

Could we make some SIG like areas for genres?
So that we can find others in our genre more easily for collaboration?

@AgentPete?

 

[Hannah F]

@Hannah F, want to group together? Any other YA fantasy writers want to group together? We need to start marketing before our books are finished. I know someone with great marketing ideas for Instagram.

This thread is so interesting!

Yeah, I'm happy to group. I don't wish to market my book until 6 months before publication. Otherwise marketing gains run stale. Longer than that loses prospective buyers' interest.

However, I'm happy to help promote others' work when they get to the marketing stage.

 

[AgentPete]

@AgentPete?

and @Jake E ...

Of course, and a great idea.

If you want to create an “!?*”…Genre SIG, you can do that right away, just go ahead. Let me know, and I’ll promote it.

Or would you prefer a genre-container area here, with genre-related forums inside?

 

[RK Wallis]

and @Jake E ...

Of course, and a great idea.

If you want to create an “!?*”…Genre SIG, you can do that right away, just go ahead. Let me know, and I’ll promote it.

Or would you prefer a genre-container area here, with genre-related forums inside?

Good question. Can we create genre-containers with genre-related forums inside (a great idea) in SIG?

 

[Peyton Stafford]

Would these forums best be within SIGs rather than Writing Workshops? They are not social groups. Thoughts?

 

[RK Wallis]

you're right, @Peyton Stafford

 

[Hannah F]

Yeah, I wouldn't put it in SIG. It'll get overlooked.

 

[Nikky Lee]

Not me as it isn't my genre, but our own Litopian, @Nikky Lee, could give classes. She did an excellent job of promoting her book.

Coming up for air in the midst of a ridonculous May schedule (she says as she gasps and claws her way to the the light at the end of the tunnel), but I could probably link the spreadsheet (or a streamlined version of it) I used to plan the launch somewhere. Also, this free course also helped a lot and gave me a really useful checklist to go through to make sure I didn't miss something important: Starting From Zero

 

[Jake E]

Coming up for air in the midst of a ridonculous May schedule (she says as she gasps and claws her way to the the light at the end of the tunnel), but I could probably link the spreadsheet (or a streamlined version of it) I used to plan the launch somewhere. Also, this free course also helped a lot and gave me a really useful checklist to go through to make sure I didn't miss something important: Starting From Zero

Just signed up and downloaded the free book. Very friendly and knowledgeable guy, but he strongly recommends getting a copy editor, which I simply can't afford.
He says to think of it as an investment, which is fine if you don't have to choose between editing services and eating that month.
Might have to rethink this whole self publishing endeavour

 

[Hannah F]

Just signed up and downloaded the free book. Very friendly and knowledgeable guy, but he strongly recommends getting a copy editor, which I simply can't afford.
He says to think of it as an investment, which is fine if you don't have to choose between editing services and eating that month.
Might have to rethink this whole self publishing endeavour

That's where I'm at too. I can't afford to do a good job with the self-publishing, one that will sell many books, so trad is presently the only route for me.

 

[Jake E]

That's where I'm at too. I can't afford to do a good job with the self-publishing, one that will sell many books, so trad is presently the only route for me.

I mean, part of me wonders how hard copy editing can be. There's a 'for dummies' for it. Perhaps it'll be cheaper to just learn copy editing

 

[JohnBertel]

Perhaps it'll be cheaper to just learn copy editing

- or you could try chagtGPT. This guy claims it is very good if you give it the correct prompt.

How to use ChatGPT to Copyedit Your Book - Bookfox

Goldman Sachs estimates that 300 millions jobs will be replaced by AI in the coming years, and one of those jobs will be copy editor. In 1 – 2 years, the vast majority of freelance copy editors will be out of work. Yes, most publishers will retain copy editors to make sure everything is tip-top, […]

thejohnfox.com

 

[Jake E]

- or you could try chagtGPT. This guy claims it is very good if you give it the correct prompt.

How to use ChatGPT to Copyedit Your Book - Bookfox

Goldman Sachs estimates that 300 millions jobs will be replaced by AI in the coming years, and one of those jobs will be copy editor. In 1 – 2 years, the vast majority of freelance copy editors will be out of work. Yes, most publishers will retain copy editors to make sure everything is tip-top, […]

thejohnfox.com

Not sure I want to trust an AI with my work. Too unpredictable

 

[Rachel Caldecott]

- or you could try chagtGPT. This guy claims it is very good if you give it the correct prompt.

How to use ChatGPT to Copyedit Your Book - Bookfox

Goldman Sachs estimates that 300 millions jobs will be replaced by AI in the coming years, and one of those jobs will be copy editor. In 1 – 2 years, the vast majority of freelance copy editors will be out of work. Yes, most publishers will retain copy editors to make sure everything is tip-top, […]

thejohnfox.com

Boo, hiss!

 

[Bloo]

Not sure I want to trust an AI with my work. Too unpredictable

I don't trust the writer of this article, either...

 

[Hannah F]

I don't trust the writer of this article, either...

View attachment 15575

Oh dear! Says it all really.

 

[JohnBertel]

I don't trust the writer of this article, either...

Well Goldman Sachs actually made that prediction, so ...

PS Sorry if my serious and well-meant advice derailed the thread

 

[Chris Yugay]

I'd love to know what his marketing strategy is outside of spamming the market with books (or is that it?)
Coupled with actually well written books, it could be a great formula for success. (Unless his strategy is literally just bombardment, then forget i said anything)

I am skeptical of people who claim a spectacular success. Makes me think about those bonzos on TikTok who teach other guys how to play stock markets. "See this awesome car I am driving? You, yes you, too can have a car just like that!"

 

[AgentPete]

It’s a very complex and opaque issue at the moment.

ChatGPT etc will undoubtedly lead to job losses, quite possibly a great many. However, untangling the reality from the hype at this stage is impossible. Two big confounding factors:

(a) Lots of people are looking to raise billions atm on the back of the buzz. It’s the latest crypto / tulip thing, all over again. Fear and greed guys, fear and greed.

(b) The current big players – Google, MS, OpenAI – are extremely vulnerable to next-gen AI… stuff that could literally run on your phone. The billions they have invested could be in jeopardy. They have a direct interest in protective legislation that favours themselves and discourages, or outright forbids, new entries to the market. That’s why OpenAI’s CEO begged Congress the other day to regulate the industry. It’s protectionism. And to get that on the books, they gotta scare us a lot…

 

[Dan Payne]

Not sure I want to trust an AI with my work. Too unpredictable

Out of interest I fed ChatGPT a chapter from one of mine. In about 2000 words of text the AI found about 20 clauses where it wanted to add a comma. Of these I adopted two, because all of the rest either changed or outright broke the meaning, intention and feel of the line. I personally feel that while the rules of grammar, syntax etc. are vital for producing good, readable text, it is in the flouting of these conventions that Voice arises, so AI copyediting is always going to result in its loss.

 

[JohnBertel]

it is in the flouting of these conventions that Voice arises

AI copyediting is always going to result in its loss.

Given the first statement, it would seem that all copyediting, AI based or not, will result in a loss.