All that Glitters is Not Gold… in the Self-Publishing Industry
Just like in 1851, when the Australian gold rush began, authors in the past decade have been rushing out to self-publish on Amazon and ibooks and cash in on “the rivers of gold”. Except today, the people getting rich are more likely to be those providing the tools, extended self-publisher services like: videos and websites, formatting, author club memberships, review services, and advertising for books. In other words, the book marketing services industry. Meanwhile a third of published authors make less than $500 from their writing, says Digital Book World/Writers Digest. Surveying 1,839 authors (56% indie; 13% traditional; 31% both paths) who published books in 2014, they found widespread underwhelm with book sales and royalties. Indie publishers surveyed showed a median income of $500 – $999 per year, and traditional authors earned a little more overall, with median income of $3,000…
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