So, good news: people are reading more! The bad news? Authors are earning less… Doesn’t make much sense right? Well, there are probably different reasons for why this is happening so you aspiring writers this might be helpful.
Forbes reported that HarperCollins sales have gone up 83 million from the last quarter and the UK publishing industry book sales have gone up by 5%. As of June 2018 author earnings have dipped down to 42% in the course of ten years. The rise of digital and ebook sales have been helping self-publishing authors; through Amazon over a thousand of authors were able to earn 100,000 dollars and 2,000 authors earned 50,000 dollars. Keeping in mind that Amazon keeps about 80% of the profits made from e-books.
The book publishing industry is not an easy route to follow mainly for all too many bumps on the road. Though it may seem that the publishing industry is thriving, Amazon has more power in the industry than we thought. Books are easily accessible through devices such as iPad, Kindles, and smartphones, so Amazon has gained some serious power in the self-publishing world, the conventional publishing companies. But one thing for sure is that people are still reading because it is becoming more accessible through technology.
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Like the music industry, piracy is a major problem, and the PDF file sharing website OceanofPDF has recently been shut down. So it can be said with confidence things are looking up for the book publishing world as companies continue to search for news ways to market new creative works.
Featured Image via The Reedsy Blog