Thursday, May 08, 2014

Writing and Making Money ...

A couple of people have asked me how much do you make as a writer?
In a few words - don't give up your day job!

Basically unless you are a 'known' author you are not going to make your fortune.

My publisher pays 40% on

books sold through their website and 50% on those sold through Amazon, Barnes& Noble, ITunes, Google+, etc. and 5% on physical ones - so unless you sell thousands and thousands you are not going to make much at all.

If you self publish it still isn't much once you take out your costs and the costs of 'buying' the books to sell.

If you have an agent they get about 15% of your takings.

In e-publishing the author usually does not to get an advance. There are a few e-publishers who do but it is usually much smaller.  But in compensation royalities are usually higher.  In theory, an e-book could make the same if not more than a print book.  They also pay their royalties quarterly.

If you go with a 'book' rather than an e-book you could get an advance rather than the royalties that e-publishers pay.  The average advance is $5000.

To pay back that advance the author would have to sell about ten thousand copies before they started to earn royalties.

Some publishers will keep a percentage of the royalties owed to you in case a large amount of book are not sold and returned.  That may be between 30-60%.  Of course that will depend on things like how similar books are selling, what genre, when your book came out.

For me - just the fact I am a published author is payment enough, anything extra I make is a bonus.

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