Amazon, or the Zon, as some call it, has by far the lion's share of the ebook market. They also have an audiobook platform called Chirp, but I'm not going to talk about that. Today's post is about only about ebooks.
eBooks & eReaders
Amazon calls its ebooks Kindle books, because its ereader is called a Kindle. However, you can read Kindle books using the free Kindle app on almost any PC, Mac, tablet or phone. Basically, Amazon's market consists of anyone who has an Amazon account and some kind of reading device, including iPads and iPhones.
So, why does this matter to self-published authors? As an author or publisher, you can upload your books into the self-publishing platforms of Amazon (Kindle Direct Publishing), Barnes & Noble (Nook Press) Google (Google Play Books Partners Center), Apple Books and others, either directly or by using Smashwords or Draft2DIgital. But if you load them only into KDP and opt for the KDP Select designation, your books will be available to borrowers via an Amazon subscription service called Kindle Unlimited. The author is paid based n the pages read, not on the borrow, an important distinction.
Basically, by putting his or her books in Kindle Unlimited (an ironic name in a way, since all KU books are limited only to Kindle), an author promises not to put them in any other ebook store (print versions have no affect in KU status). How can this possibly benefit an author?
A lot of times, it doesn't. In my experience, whether or not KU is profitable for a book depends on three factors: genre, book length, and ebook price.
Genre
The only genre I personally have had any success with in Kindle Unlimited is romance, which in my case is actually science fiction romance, Romance readers are voracious. They read so much, it is worth it to them to pay the KU subscription fee. There may be other popular KU genres, but I have not found them. Certainly my YA books never went anywhere in KU. If you have books doing well in a KU, please let me know what genre they are!
Book Length
Because the author is paid based on pages read, a longer book automatically earns more money than a short one, assuming the reader finishes the book. Of course, if the book is truly short--a novella or a novelette--it probably sells for less, too. But length is something to keep in mind when deciding on KU, yes or no,
Price
If you price your ebook modestly (none of mine are more than $3.99), and the book is long enough, you may well make more money from a KU borrow and full read than from a sale. Of course, price will also have some impact on sale rates, too, so it's all balancing act.
Things to Remember
An important thing to remember is, the Kindle Unlimited signup is for 90-day blocks of time. You can take the book out of KDP Select after 90 days, or you can sign up for another 90 days. I usually launch with the book signed up or KDP Select but pull it out after 90 days if it's not getting enough KU reads to make it worthwhile.
Also, one benefit to keeping the book in KDP Select status is, you can run a sale or even make the book free for a select number of days per 90-day cycle. The advantage to just changing the price yourself is, the book looks like it's on sale. The regular price appears, but is struck through and the sale price shows as discounted.
You should be aware that Amazon makes no future promises on the per-page rate for KU borrows. It sets aside a chunk of money to pay KU authors/publishers, and then pays out at a rate determined by the number of reads. Right now the rate is approximately $0.004 per Kindle Edition Normalized Page. My book Alien Bonds is a tad under 130,00 words and that translates to 649 KENP pages. I made about $2.60 on the last full read. At $3.99 retail I make $2.72 in royalties on a sale, which is 12 cents more than the KU borrow. On book 2 of the Wakanreo trilogy, which is shorter, I make less on KU but on book 3, the longest book, I make more from a KU full-read than I do from a sale.
A non-financial benefit of KU is you can tell when people are actually reading your book because the page count shows on a daily basis.
And once your pull your book from KDP Select, it is no longer in KU, and then you can load onto every platform available. There is no reason not to! But always, do what's best for your particular book!
