http://www.digitalbookworld.com/2012...olders-letter/
Amazon CEO:
Quote:
Kindle Direct Publishing has quickly taken on astonishing scale – more than a thousand KDP authors now each sell more than a thousand copies a month, some have already reached hundreds of thousands of sales, and two have already joined the Kindle Million Club. KDP is a big win for authors. Authors who use KDP get to keep their copyrights, keep their derivative rights, get to publish on their schedule – a typical delay in traditional publishing can be a year or more from the time the book is finished – and … saving the best for last … KDP authors can get paid royalties of 70%. The largest traditional publishers pay royalties of only 17.5% on ebooks (they pay 25% of 70% of the selling price which works out to be 17.5% of the selling price). The KDP royalty structure is completely transformative for authors. A typical selling price for a KDP book is a reader-friendly $2.99 – authors get approximately $2 of that! With the legacy royalty of 17.5%, the selling price would have to be $11.43 to yield the same $2 per unit royalty. I assure you that authors sell many, many more copies at $2.99 than they would at $11.43.
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KDP is for self-published authors.
1,000 authors selling at least 1,000 ebooks each month. Amazing!!!!!!!!
especially since Amazon pays 70% royalties (book priced at $2.99 will mean the authors get ~$2.04).
For comparison, book publishers pay 17.5% royalties.
It's no wonder that more and more authors are self-publishing their works every day.