Self Publishing - Page 8 of 36

New Media Meets Old Media

March 22, 2011 by Lee Goldberg

From Publisher’s Lunch:

On the same day Barry Eisler turned down half a million dollars from Minotaur Books to self-publish, news emerged publicly that Amanda Hocking appears to be doing the exact opposite. Yesterday afternoon the NYT finally caught wind of what many in the industry have known about for weeks now, which is that agent Steve Axelrod is shopping a new four-book series to publishers, attracting bids “of well over $1 million for world English rights,” according to two unnamed publishing executives who spoke with the paper, and that the auction may be complete by today. Sources in turn tell us that Penguin and St. Martin’s are no longer in the running, and that the series is entirely new an previously unpublished.

The Game Has Changed

May 1, 2013March 21, 2011 by Lee Goldberg

My friend, the huggable spy, Barry Eisler has announced that he's walking away from a $500,000 advance from St. Martin's Press to self-publish his books. Eisler explains his thinking in a long and fascinating interview with — who else? — his buddy Joe Konrath:

I know it’ll seem crazy to a lot of people, but based on what’s happening in the industry, and based on the kind of experience writers like you are having in self-publishing, I think I can do better in the long term on my own.[…]I’m not the first example, though I might be a noteworthy one because of the numbers I’m walking away from. But there will be others, more and more of them.

He's right. Just a few weeks ago, Terrill Lee Lankford made headlines by rejecting a high, five-figure deal. By now, the publishers must be doing so much head-scratching that they have no scalps left.

But the reason established authors are doing the previously unthinkable — saying no to big-money advances — is simple. In exchange for that advance, the publisher is, essentially, buying the book out-right and forever (since it's unlikely to ever go "out of print" with the advent of ebooks) and yet are only offering a 25% royalty on ebooks.

But ebooks cost almost nothing to produce. There's no printing, no warehousing, no distribution. The only costs are editing, formatting, and cover art. So why give authors so little? The truth is, what the author will get is even less than 25%, as Barry and Joe explain:

Barry: […] a 25% royalty on the net revenue produced by an ebook equals 17.5% of the retail price after Amazon takes its 30% cut, and 14.9% after the agent takes 15% of the 17.5%.

Joe: Yeah, that 25% figure you see in contracts is really misleading. Amazing, when you consider that there’s virtually no cost to creating ebooks–no cost for paper, no shipping charges, no warehousing. No cut for Ingram or Baker & Taylor. Yet they're keeping 52.5% of the list price and offering only 17.5% to the author. It’s not fair and it’s not sustainable.

Which is why we are going to see more and more A, B and certainly C-list writers opting to forgo publishing contracts in favor of self-publishing.

Where does this leave print publishers? Domestic print publication will become for an authors a nice ancillary market, much the way audio and foreign editions are now, where limited rights are sold for a negotiated fee. The benefits would be distribution to brick-and-mortar stores (those that are still left). Or perhaps, as one blogger predicted, a retailer like WalMart or B&N might make exclusive deals with authors to sell the print editions in their stores.

But even in that negotiation, authors will have strong, self-publishing alternatives to help them leverage the best possible deal.

I found that out for myself this weekend. I was astonished to find the CreateSpace print editions of my self-published ebooks available for sale at the Virginia Festival of the Book alongside my Penguin-published MONK books…and being gobbled up by readers.

The readers saw no difference between my self-published novels and my published ones (granted, I hired a professional cover artist and formatters, so they looked very slick). But I am seeing a difference: much higher royalties and more money in my pocket. And if I, a mere mid-list author, is seeing that, imagine how much better a guy like Barry could do.

But you won't have to imagine it. Soon you will be able to see it for yourself. Barry's new John Rain novel, The Detachment, will be self-published by Father’s Day. My prediction — it will be a huge Kindle bestseller.

Floored and Flattered

May 1, 2013March 16, 2011 by Lee Goldberg

Bruce Grossman at Bookgasm praised THE DEAD MAN today, saying, in part:

THE DEAD MAN: FACE OF EVIL, a short novella from the very prolific authors Lee Goldberg and William Rabkin, is the first step in an intriguing series, for which this lays the groundwork. […] I've not seen a writing tandem like this since the glory days of Richard Sapir and Warren Murphy.

We are extremely flattered by the review. The comparison to Sapir & Murphy means a lot to us. We were not only big fans of the "Destroyer" novels, but we had the good fortune of working with Warren Murphy many years ago on the TV series "Murphy's Law," which was loosely based on his "Trace" and "Digger" novels. We have remained friends, and admirers, of Warren's ever since.

The Man with the Lousy Title

May 1, 2013March 13, 2011 by Lee Goldberg

THE MAN WITH THE IRON-ON BADGE is by far my most critically-acclaimed book, but the ebook sales aren't as good as I think they could be. My theory is that the clunky title is to blame. So I'm seriously considering retitling the book and coming up with a new cover. The stage play version of the book was called MAPES FOR HIRE, but I'm not wild about that title, either.

If you've read the book, and have some ideas for a new title, please let me know!

Publishing Leprosy Cured

May 1, 2013March 9, 2011 by Lee Goldberg

Mid-list novelist Beth Orsoff talks on her blog about how she turned a disappointing (and all too familiar) experience at a big six publisher into success as a self-published author:

My first book, “Romantically Challenged” was published in April 2006, approximately six months after the chick lit markettanked. I had a small print run, no publisher support, and, not surprisingly, my book was not a huge success (massive understatement)[…]While I was waiting for “Romantically Challenged” to be published I wrote another book, also chick lit. NAL elected not to option it and my agent started sending it to other publishers.

When that book, and a couple of others, failed to sell, she got the rights back to "Romantically Challenged" and put it,along with several of her unsold manuscripts, on the Kindle and the Nook.

Thanksgiving weekend I uploaded all three books to B&N via their PubIt program. I sold 9 books at B&N in November. In December I sold 500 books at B&N. In January 2011 I sold almost 7000 books at B&N. Between Amazon and B&N, I sold over 13,000 books in January. Will I continue to sell books at that rate? I don’t know. But I’ve already had much more success as a self-published author than I ever did as a traditionally published author, plus I get to write the books I want to write, choose my own covers, and publish on my schedule, not someone else’s.

I am hearing stories like hers every day…especially in the wake of my first "Midlist to E-List" post… and its inspiring. It used to be that when a midlist author was dropped, it was a living hell getting published again because your lukewarm sales figures would follow you wherever you went. Reinventing yourself with a new novel and a new voice was also a steep, uphill climb.

But now, for the first time ever, midlist authors not only have an alternative, but one that could actually be more lucrative and perhaps more creatively fullfilling, than sticking with their publishers. For the first time, a midlist author doesn't have to take a crappy deal just to stay in print…or feel like a literary leper when they have been dropped.

These are exciting times.

Amazon Spotlights THE DEAD MAN

May 1, 2013March 8, 2011 by Lee Goldberg

Amazon is featuring the story behind The Dead Man original book series today on their Kindle blog:

I grew up loving those "men's action adventure" paperback novels of the 60s, 70s, and 80s…series like The Destroyer, The Ninja Master, Nick Carter: Spymaster and The Death Merchant. You could find them in finer supermarkets, gas stations, 7-11s and bookstores everywhere. They were the male equivalent of Harlequin romances, though the only romance was often between a man and his AK-47.

The books were short and tightly-written, with hard-boiled heroes, outrageously sexy women, and gleefully over-the-top plots. Nobody would ever mistake them for great literature, but they were enormous fun to read…and to write. I know, because I broke into publishing in the mid-1980s writing one of those series–357 Vigilante by "Ian Ludlow"–while I was still in college.

Sadly, the "men's action adventure" series novels are virtually extinct now, early victims of the narrowing of the paperback marketplace.

But the Kindle offers the perfect medium for the revival of the genre..

Please spread the word. Amazon was kind enough to offer me the opportunity to post on their blog and I want to thank them by bringing as many new readers to their blog as I can!

A Dose of Reality

March 7, 2011 by Lee Goldberg

Amanda Hocking may be single-handedly responsible for driving thousands of newbie authors to self-publishing, eager to replicate her astonishing success. But today she gave them a dose of reality. I just wonder how many of them will listen…

Everybody seems really excited about what I'm doing and how I've been so successful, and from what I've been able to understand, it's because a lot of people think that they can replicate my success and what I've done. And while I do think I will not be the only one to do this – others will be as successful as I've been, some even more so – I don't think it will happen that often.

Traditional publishing and indie publishing aren't all that different, and I don't think people realize that. Some books and authors are best sellers, but most aren't. It may be easier to self-publish than it is to traditionally publish, but in all honesty, it's harder to be a best seller self-publishing than it is with a house.

I don't think people really grasp how much work I do. I think there is this very big misconception that I was like, "Hey, paranormal is pretty hot right now," and then I spent a weekend smashing out some words, threw it up online, and woke up the next day with a million dollars in my bank account.

She goes on to talk about the years of hard work she put into it…and the difficulty of finding good, professional copyeditors…and the huge amount of time she's spent marketing. And yet, she acknowledges that a lot of her success comes down to simple luck (she points out other self-published writers she thinks are every bit as good as she is and yet still have not broken through). Then she makes this point, which I'm sure few newbies want to hear:

I guess what I'm saying is that just because I sell a million books self-publishing, it doesn't mean everybody will. In fact, more people will sell less than 100 copies of their books self-publishing than will sell 10,000 books. I don't mean that to be mean, and just because a book doesn't sell well doesn't mean it's a bad book. It's just the nature of the business. Self-publishing and traditional publishing really aren't that different. One is easier to get into but harder to maintain. But neither come with guarantees. Some books will sell, some won't.

Great advice…and I applaud her for giving it.

Midlist Becomes the E-List

March 6, 2011 by Lee Goldberg

Daily Finance reports that the shuttering of Borders, and the dire situation facing bookstores in general, make it even harder for mid-list authors to break-through, much less even stay in print. A Borders sales exec says that even if the company manages to survive, mid-list authors are facing doom.

· Borders will likely be even more cautious about investing in midlist authors. While their new loans from GE Capital will allow them to finance, among other things, the purchase of new stock, Borders is not in any position to gamble. They're likely, in my opinion, to skipmore midlist titles than usual and to only spend their money on names they know they can sell. This will be exacerbated by the aforementioned store closings.

· Publishers may offer lower advances, especially on midlist titles.The industry has depended on Borders as a major market for new titles. If the publisher can't trust Borders to take a sufficiently large number of copies of a given title, this will factor into their profit and loss statements. As a result, they may advance less money to authors in order to increase the odds that any given acquired title will earn out.

Publishers are going to double-down on their bestsellers and their established, successful franchises — and so are bookstores. That's already the case at the biggest booksellers of all, the big-box general retailers like Wal-Mart, K-Mart and Costco, where mid-list authors are already barely represented on their limited shelf space.

It's no wonder that more and more midlist authors like me are opting to self-publish — which can be far more lucrative, and far less risky, that a publishing contract, especially if you can get back the rights to your backlist.

Hocking Self-Published Books

March 2, 2011 by Lee Goldberg

Amanda Hocking's astonishing success with her self-published ebooks, which made big news after USA Today started tracking ebook sales on their bestseller list, is getting her noticed by the media all over the world. Now the media, suddenly aware of what's happening with ebooks, is turning their spotlight on other authors who have also scored big on the Kindle and Nook.

The London Observer recently featured the story of Stephen Leather, a mid-list UK author who is doing great with 99 cent ebooks of his unpublished work on Amazon UK, earning him the title of "UK's leading independant author."

Leather, who celebrated his seventh consecutive week at the top of the Amazon chart with his novella The Basement, about a serial killer in New York, also occupies fourth place with Hard Landing, another thriller, and 11th place with Once Bitten, a vampire novel.

He is one of many authors increasingly turning to ebooks as an alternative way to the top. Capitalising on the popularity of e-readerssuch as the Kindle, a new generation of writers is bypassing agents and publishers and using the flexible pricing model of ebooks to offer their work directly to the public at rock-bottom prices. Some, like Leather, are achieving huge sales, which, not surprisingly, is striking fear into publishers.

Leather enjoys a successful parallel career writing "big international thrillers" for Hodder & Stoughton. But last August, when Amazon.co.uk opened its Kindle store, he saw an opportunity: "I was lucky, in that I had three novellas Hodder had turned down because they were in a different genre from my other books and too short to work as conventional paperbacks. But I realised they might work for the Kindle."

I see more and more established, professional authors following the same path as Leather…and they'd be fools not to be. The publishing world has changed dramatically in the last few months, upending all the old paradigms. Whoever thought a year ago that it would be possible for a mid-list author to make more money, and reach more readers, by self-publishing than going with a major, established publisher? I certainly didn't.

And there's Amanda Hocking who, with no previous publishing experience or any kind of promotional platform, has become an overnight sensation, all on her own. Did I see that coming? Hell no. What she has accomplished is nothing short of amazing.

Leather's achievements are dwarfed when set against the scale of independent publishing in the US, where ebooks are estimated to be 20% of the total market. The most spectacular example of an author striking gold through ebooks is 26-year-old former care assistant Amanda Hocking, a Minneapolis-based writer of paranormal romances. She had completed eight novels but had failed to acquire an agent when, last April, she decided to publish them herself via the Kindle store.

"I sold 50 books the first month. It picked up over the summer, then really took off in November," she said. Hocking is now the world's bestselling ebook author, selling more than 450,000 titles last month alone.

It's an exciting time to be an author.

(Thanks to David Cunningham for the heads-up)