The much anticipated release of E.L. James new book The Mister, has many readers' eyes bulging out of their heads, and not because of the subject matter. The gasps came when they saw the $9.99 price of the e-book.
Their cries were heard throughout social media. "Why so much?" they wondered.
E-book prices used to be substantially lower than paperbacks. While a self-published paperback may cost $9.99 - $12.99, an e-book may roll in around $2.99 - $3.99, with traditional publishers coming in at roughly $13.99 - $15.99 for paperbacks, and somewhere in the $5.99 range for e-books. So why the sudden increase in price?
Well, I don't work in the tradional publishing sector, but let me try to shed some light on the subject and tell you what I think caused the price jump.
Making a book is not cheap and the profit margin is minimal at best. A book - a good book - isn't just written and immediately published. There are several costs involved. Each page has to be edited several times and formatted. Covers cost money. Depending on the designer, there may be a separate charges for e-book cover and the paperback cover.
If you use a stock photo, you run the risk of having the same cover as everyone else - something I'm going through now. I get tagged almost every other day in a photo on Facebook showing me another author has used the same photo for their cover. It's beyond frustrating, but that's a post for another time. The only way to avoid that pitfall is to pay a professional photographer, models, etc. to do a personalized cover. Not cheap and certainly not cost effective for most authors.
I asked an author friend to break down the costs of publishing a book. Here's what she said:
"[It] Depends on who you use for everything. Full editing, normally will rack out at about $1000 USD. Covers conservatively between $50-150 USD, although I've heard of people paying upwards of 700 for one cover. Marketing is easily your big money pit, costing anywhere from free, if you know how, to I would say $200 a month. So, added together, say $1500 as an easy starting number. Average $2 royalties per book on Amazon, and you are talking 750 sold in the first month to break even, with a continuing 100 a month after that, for as long as you keep up marketing." - Kathleen Eyke, author
750 books sold in the first month just to break even! And most authors I know don't make $2.00 a book. Books have to be priced over a certain amount for the author to make a 70% royalty. If it's priced below that, or they forget to check the proper box, an author only receives 30%. (Yes, you have to check a box to receive a higher royalty. No, you can't go back and fix it if you accidentally check the wrong box.)
Now let's talk e-books, break down some platforms, and discuss the problems with them.
People love e-books, and rightly so. They're cheaper, take up less room in the house, and they are delivered immediately. Let's hear it for instant gratification! Woo-Hoo! But e-books are more easily pirated.
Think about it. The people that pirate books are not going to take the time to retype an entire manuscript. But they will take a few minutes to upload a computer file if they can get their hands on it. That means the material has been stolen and the author and publisher are getting paid nothing for their work.
On to free book sites - Who doesn't want free books? The sites that offer them are a great way for new authors to get their names out there. An author may put one of their books on the site, permanently or temporarily, in an effort to reach new readers. The hope is that once a readers discover you, they'll become a fan and seek out other books and buy new releases.
But not only are these books often pirated, many people that download books from these sites usually won't consider paying for a book when there are so many - good or bad - available for free. They seem personally offended if an author wants to charge for a book. A book the author has worked 4-8 hours a day on every day, usually for six months to a year. Now add in all the costs mentioned above and essentially, the reader is asking the author to pay to have their book read. Imagine going into your work, busting your butt all day, only to have your bosses come to you at the end of the week demanding you pay them for being there. It wouldn't fly. Employees would feel unappreciated and walk out. Just like some great writers quit publishing. The thought being, why bother?
Now let's talk Kindle Unlimited. It's great for the reader, giving them the option to download tons of books for a monthly subscription. So they click on any book that might interest them, stockpiling each one on their Kindle, where they collect virtual dust.
Before, if consumers purchased a book, publishers and authors received royalties even if that book sat on someone's shelf or e-reader for years. With KU, authors and publishers are paid per page read. If a reader doesn't swipe each page individually, the author doesn't get paid.
And Kindle Unlimited requires KDP Select exclusivity. What's that you ask? It means the author cannot sell on any other platforms. No Kobo, Apple, Barnes and Noble, or any other market that caters to other e-reading devices, severely limiting the audience and potential profits.
So why offer books on Kindle Unlimited? Because it is extremely popular and is a great place to create buzz for a novel. But, much like the individuals loyal to free sites, some people won't consider picking up a book that isn't available on KU. Authors and publishers are left shrugging saying, "Some profit is better than no profit."
Are you starting to see why publishers are raising costs? And we haven't really touched on the cost of ads, trailers, book teasers or anything else which can cost thousands. Once a publisher distributes the agent their well-deserved commission and any royalties to the author, recoups expenses associated with the book, and pays their employees and the utilities necessary to operate a business, it's a wonder traditional publishers are still around. Prices are rising because publishers are desperately trying to find a way to bring quality material to readers and stay afloat doing it.
They're averaging down their costs on books of lesser known authors that may take longer to turn a profit by raising the price on books written by top authors with guaranteed sales. It's the only way they can subsidize their costs and continue to take chances on new authors hoping to bring readers the next Stephen King or J.K. Rowling.
And while you most likely won't see an e-book by an indie author coming in at $9.99, it's not because we don't think our books aren't worth that price It's because we can't compete if we do. Most indie authors don't make a dime. We publish books because we love to write. Yes, we want to make it big and have our books reach millions. But until we're backed by one of the Big 5, chances are, we're not going to be able to afford to write full-time for a living.
Most indie authors I know work one or two jobs and sacrifice any free time - dinner with friends, Netflix binges with the hubby, and downtime in general to be able get their words to you. I've seen estimates claiming most indie authors are lucky if they sell 250 books per release. You now know, that doesn't even come close to the amount it costs to publish a book.
Instead of vacations on beaches, they pay to attend cons. Yes, you read that correctly. If you see an author at a book con or signing, know they paid to be there. That money comes out of their pocket, as does any swag they provide. Authors attend cons and signings to interact with loyal fans and hopefully pick up some new ones that will also love their stories and follow their careers.
Turning a profit is a dream for a self-published author and a necessity for a traditional publishing company. I'm not defending high book costs, but if traditional publishers don't find a way to make more money, they aren't going to survive.
I know there are a lot of bad books out there and I understand readers don't want to pay for something they may hate filled with one-dimensional characters and plot holes. That's why they should feel comfortable paying a little more for a book knowing it has gone through the proper channels to be edited and formatted properly. You're paying for the blood, sweat, and tears (and possibly the psychiatric meds) of the author that writes 6-8 hours a day and is not getting paid an hourly wage to do it; you're paying for professionalism and the countless hours and manpower it takes to make a book come together; you're paying to escape reality for a while and be transported into another world.
Most people are willing to pay upwards of $4 for a cup of coffee from Starbucks because they know they will be getting something better than they can make at home or be served in a diner. That's what you're paying for with a good book - Quality (editing). Atmosphere (formatting and cover design). Entertainment (the author's ideas and prose). If you would rather read compelling novels with seemless plotlines, characters you feel connected to, and exceptional storylines instead of books laden with errors, plot holes, and sub-par writing, you have to reward the authors and the publishers that bring them to you.
I'm not saying the price hike is right or wrong, but I hope this fosters a better understanding between the readers and the industry. If you are a fan of good books and support our writing community, please know that we appreciate you. We aren't looking to gouge anyone. We're just trying to make enough to keep doing what were doing and bring you books you'll love.
Please click on the links below to check out my books The Rise to Fame and The Cost of Fame.
The Rise to Fame
CLICK HERE for Kindle or Paperback
CLICK HERE for Kobo, Apple, and other e-reading devices
The Cost of Fame
CLICK HERE for Kindle and Paperback
CLICK HERE for Kobo, Apple, and other e-reading devices
