I’m caught in a squeeze play and it isn’t even opening day! That’s how I feel because the cost of my book has gone up 27 percent while the royalty payment has plummeted 30 percent. This financial debacle has taken place since December.
What’s the reason? Ah, that’s a great question. There’s no straightforward answer. It’s evolved as I’ve exchanged emails and phone calls with the publishing company. I rarely converse with the same person twice. My account manager, who was supposed to be my go-to gal, seems to be AWOL much of the time. When she does respond her answers don’t specifically address my question. She merely replies with something easily found under the company’s FAQs. Frustrating? Hell YES.
Bottom line, the company I signed with in October to publish my book, announced soon thereafter that it was morphing into another company to better serve ME. My costs were supposed to go down, my royalties up. When the one company became the other, the transition didn’t move seamlessly. The responsibility fell to me to reauthorize the distribution of my book. This is why it has taken so long for distributors to show my book title among their listings. Many things were unstated prior to the transition or even now. My account manager who was supposed to work FOR me is anything but proactive. I’d say she’s inactive. More characteristically: UNRESPONSIVE.
As to the financial squeeze play let’s look at the numbers. My book sells on Amazon.com for $15.99. The printing of the book NOW (it was less in quotes back in December) costs $4.71. The publishing company takes $5.68 and gives me a royalty payment of $5.60. (BTW it takes them an extra month to pay this to me. I don’t get a royalty payment until March for books sold in January) I’m not upset about the 50/50 split since the publisher is in charge of shipping and handling. Just for the record it’s going to take a lot of book sales before I break even. I’m talking more than a 1000 books. That’s means recouping prepublication and promotion costs, not time and expense for researching and writing.
Here’s the shocker: If the book is sold through a bookstore or any organization that buys through the “ independent distribution channel” my royalty is only $1.68!!! I’ve been tearing my hair out to get my book listed on this channel without realizing that while there is potential for additional sales, there is a veritable cliff from which returns plummet.
Here’s the math. The book buyer gets a 40 percent discount. Their cost is $9.59. The printing cost remains constant at $4.71. The value left in the book is $4.88. The publisher takes $3.20 leaving me with $1.68. There’s been no explanation why the split is 50-50 when the book is sold on Amazon and only 65/35 when sold through other channels.
Obviously my earlier posts that tell people to write because they love to write and not because they expect to make money are on target. I am aware that mine is but one experience. I’d like to find a self-published author who can relate a success story.
People tell me to be patient. After all, my book only made its debut on January 11. Let’s see what happens. There may be a success story down the road. I’m certainly working hard enough.
I’ve got a friend who’s just beginning her own indie published journey. I’m going to ask to relate her experiences in a future blog post.
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My other blog is Living in the Heartland.