Overview
This lecture covered the evolution, practices, and financial aspects of indie (self-) publishing compared to traditional publishing, including contracts, royalties, and strategies for breaking into the publishing world.
History & Evolution of Indie Publishing
- Indie publishing was once equated with vanity publishing, often requiring high upfront costs and resulting in large unsold inventories.
- The 2010 digital revolution, spearheaded by the Kindle, made indie publishing accessible and profitable.
- Today, most indie sales are digital; print is usually print-on-demand with lower royalties.
- Indie publishing has lost much of its previous stigma and is now a respected route for authors.
Advantages of Indie Publishing
- Offers flexibility in content, release schedule, pricing, cover design, and series length.
- Authors retain control over rights, often receiving 70% of sales (minus platform fees, e.g., Amazon).
- Indie authors with a niche or dedicated audience can outperform traditional deals financially.
- Examples of successful indie authors include Jennifer Peale and Becky Monson (six-figure incomes).
Breaking Into Indie Publishing
- Platform model: Using personal blogs or communities to drive sales works but is challenging.
- Rapid release model: Publishing several books quickly is the best marketing tool for previous titles.
- Authors recommend joining online groups (e.g., 20 Books to 50k), attending indie conferences, and approaching publishing as a business.
- Invest in professional cover design ($500–2000+) and editing; standard rates for copyediting, content editing, and proofreading are per-word.
Indie Publishing Tactics & Challenges
- Choose between Amazon exclusivity (better royalties, Kindle Unlimited) or wide distribution (all platforms).
- Pricing: $2.99–$9.99 for optimal Amazon royalties; first book may be offered cheap or free as a marketing tactic.
- Scams targeting indie authors are common; be wary of services asking for large upfront fees.
- Amazon now relies heavily on paid ads for discoverability, reducing organic recommendations.
- Marketing requires paid ads, author cross-promotion, email lists, and a professional online presence.
Traditional Publishing: Contracts & Royalties
- Print royalties: 10–15% of cover for hardcovers, 6–8% for paperbacks, based on retail price.
- Ebooks and audiobooks: Typically 25% of net (after retailer cut), which can disadvantage authors.
- Advances (upfront payment): May not reflect real sales; calculated to “earn out” over years.
- Traditional publishing is advantageous for wide print distribution, genres unsuited to rapid indie releases, or for authors preferring less business responsibility.
Marketing for Traditional & Indie Authors
- Both require personal marketing (social media, website, email lists).
- Traditional publishers offer some bookstore placement and limited advertising, but debut authors often self-promote.
- Author events (signings, tours) are rarely profitable directly, serving instead to build audience and store relationships.
Hybrid Approaches & Other Notes
- Hybrid publishing (mix of indie and traditional) is a viable strategy.
- Niche genres often do better indie; rapid, short books suit indie trends.
- Short stories rarely sell as standalone ebooks; novellas fare better if priced above $2.99.
Key Terms & Definitions
- Indie (Self-) Publishing — Publishing books independently of traditional publishers, usually via digital platforms.
- Vanity Publishing — Paying a company to publish your book without quality or distribution guarantees.
- Print-on-Demand — Printing physical books only as orders come in, avoiding large inventories.
- Advance — Upfront payment by a publisher, recouped from future royalties.
- Royalty — The percentage of book sales paid to the author.
- Net Sales — Sales revenue after retailer/platform deductions.
- Rapid Release Model — Publishing books in quick succession to boost sales and visibility.
- Platform Author — An author leveraging an existing audience from another area (e.g., blogs, forums).
- Hybrid Publishing — Combining indie and traditional publishing strategies.
Action Items / Next Steps
- Submit your presence in the forum for Q&A next week.
- Research online author groups (e.g., 20 Books to 50k) and local indie publishing conferences.
- Begin budgeting for professional cover design and editing if planning to self-publish.
- Consider creating or updating your professional website and email list.
- Prepare questions on publishing for the final class Q&A session.