Alex Pham writes a great article, "Book Publishers See Their Role as Gatekeepers Shrink." Can't. Happen. Soon. Enough. Never has an industry been more overdue for the coming sea change.
Pham wisely focuses on money. Here's an example of one author's economics, midlist mystery writer J.A. Konrath's Whiskey Sour [[Kindle]].
Hyperion sells the 312-page paperback for $7.99 and Konrath earns 80 cents per copy.
Hyperion through Amazon's Kindle sells the e-book for $4.69 and Konrath earns $1.17 per copy.
Konrath self-publishes on Kindle at the enticing, take-a-chance price of $2.99 and earns $2.04 per copy.
The notion that Konrath will sell more physical books than e-files somewhat depends on the existence of physical bookstores to sell them. You've already seen most of the independents evaporate. Over the weekend, Borders announced it didn't have the money to pay publishers for their books. As a result, some publishers have stopped shipping to Borders. Hard to imagine how they're going to swing to a profit without new stock to sell.
Industry-wide, in the first 10 months of 2010, sales of print books fell 23% from 2009 levels.
Authors, in addition to Kindle, you can self-publish e-books for Barnes & Nobles' Nook via PubIt! and earn royalties of 40 to 65%. The royalty rate for self-pubbing via Sony's digital Reader Store is 70 to 85%.
Readers, please remember the free options. Although you may want to invest in a portable Kindle reader with wifi ($139), 3G + wifi ($189), or the whopping 9.7" version ($379), you can download the Kindle software for your Mac, PC, or phone, transforming them into Kindle readers for no charge. Likewise, the Nook apps are also free.
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