Digital book publishers can now offer many writers better options than traditional publishers because eReader technology is changing the publishing world. If you aren’t famous or haven’t already published a book, it can be extremely difficult to get your book onto store shelves. Because of high printing and marketing costs, traditional publishers have closed the door on many unproven but fantastic writers.
However, digital publishing companies can now publish the works of these overlooked writers in low-cost, digital forms. eBooks have been around for years, but only recently have iPad, Amazon Kindle, Barnes and Noble Nook, and Sony Reader created profitable mass markets for eBooks.
The eBook market is still developing, but it’s the wave of the future and offers significant growth potential. eBooks make up an estimated 3-5% of the market today, but conservatively they are expected to make up 25% of the market by 2012, according to Mike Shatzkin, the chief executive of the Idea Logical Co., publishing consultants. eBooks are creating a revolution in the publishing industry and replacing the traditional bookstore. (Wall Street Journal)
Not sure your book is good enough to submit to a digital publisher? If in doubt, give it a shot. Traditional publishers-saddled with high publishing costs-tend to say no, but digital publishers-taking advantage of lower costs that reduce risks-can often say yes.
Also, low production costs allow digital publishers to pay writers better royalties than traditional publishers pay. The fortunate few who are chosen to write for traditional publishers will receive around $2 in royalties for each $20 hardcover book sold, according to the Ethan Ellenberg Literary Agency. However, one digital publisher, Schlimmer Publishing, pays $1 in royalties for each $2.99 eBook sold. Schlimmer Publishing notes that it prefers to sell eBooks at low prices to stimulate more sales volume, profits, and royalties.
The Growing eBook Market
-51% of eReader owners increased their purchases of eBooks in the past year.
-Only 9% of consumers increased their purchases of hardcover books in the past year.
-2.6, The average number of books read by eReader owners in a month.
-1.9, The average number of books read by print-book readers in a month.
-176% increase in U.S. eBook sales in 2009.
-1.8% decrease in U.S. book sales in 2009.
-86% of eReader owners read on their device more than once a week.
-51% of eReader owners read on their device on a daily basis.
(Wall Street Journal)
Sources: Wall Street Journal, Schlimmer Publishing, Ethan Ellenberg Literary Agency