Lecture Notes: Indie Publishing and Traditional Publishing Contracts

Class Introduction

• Next to last class; focus on indie publishing
• Q&A session next week; students to submit questions in advance
• Special thanks to Jennifer Peel and Becky Monson, professional romance novelists

Indie Publishing Overview

• Historically difficult; often confused with vanity publishing
• Vanity publishing involved self-funding physical books, often without sales success
• Success in the past required unique sales platforms like expos or niche markets
• 2010 digital revolution changed the landscape with the Kindle
  • Massive shift to digital; noticeable changes in royalty statements
  • Audiobooks presently growing; print and ebooks have stabilized in market share
  • Genre and format influence sales trends

Advantages of Indie Publishing

• Flexibility: Quick market targeting, control over series length, book length, etc.
• Control: Author decides cover, summary, pricing, sales timing, and promotions
• Financial: Higher share of profits; typical platform takes 30%, author keeps 70%
  • Pricing sweet spot between $2.99 and $9.99 for optimal royalties

Success Stories and Indie Publishing Model

• Examples: Jennifer Peel and Becky Monson
  • Jennifer: 30 books, six-figure income
  • Becky: 7 books, high five-figure income, with a movie deal
• Popular indie genres: Fast-paced, genre-specific fiction (e.g., romance, thriller)
• Notable authors: Bella Forrest - quick, serialized releases

Challenges and Market Dynamics

• Amazon as a pay-to-play market; advertising costs impacting royalties
• Importance of understanding scams and maintaining up-to-date industry knowledge

Methods of Breaking Into Indie Publishing

• Platform Writer: Build an audience through a blog or niche community (e.g., Larry Correa)
• Rapid Release Model: Publish frequently to market current and previous books

Self-Publishing Steps

• Joining online communities for knowledge-sharing
• Conferences and conventions for networking
• Treat writing as a business; invest in editing, cover design
• Two main publishing approaches: Amazon exclusive vs. go wide

Traditional Publishing Contracts

• Royalty Rates:
  • Hardcover: 10-15% of cover
  • Paperback: 6-8%
  • Trade Paper: around 10%
• Ebook & Audiobook:
  • Typically 25% of net revenue, defined by what publishers receive
  • Advances against royalties

Comparing Indie and Traditional Models

• Indie authors can price lower but retain higher percentage of sales
• Traditional publishing offers potential for wider physical distribution
• Choice depends on personal priorities: control vs. broader reach

Marketing and Self-Promotion

• Importance of social media, websites, and email lists
• Author cross-promotion and blog tours
• Professional presentation and branding

Conclusion

• Hybrid approach recommended for new authors
• Research both indie and traditional methods to determine fit
• Prepare for both self-publishing and traditional submissions

Final Remarks

• Keep learning and adapting to industry changes
• Submit questions for next week's Q&A session