Wednesday, June 24, 2015

Is it time to fire Kindle?

Open the book or I won't get paid for writing it!
Amazon announced a new way to pay authors for Kindle book sales... Based on pages read. So you better start writing great books and bigger books if you want to earn more than a few pennies.

Direct quote from Amazon site:

Beginning July 1, 2015, we'll switch from paying Kindle Unlimited (KU) and Kindle Owners' Lending Library (KOLL) royalties based on qualified borrows, to paying based on the number of pages read. We're making this switch in response to great feedback we received from authors who asked us to better align payout with the length of books and how much customers read. Under the new payment method, you'll be paid for each page individual customers read of your book, the first time they read it.

Royalty payments under the new program

As with our current approach, we'll continue to set a KDP Select Global Fund each month. Under the new payment method, the amount an author earns will be determined by their share of total pages read instead of their share of total qualified borrows.

Read more if you wish. And consider the challenges ahead, as we ask people to turn pages, not just store books on their device. If they don't read it, you don't get royalties!!!

If you are the optimist who finds something good about this, please add a comment below to enlighten the rest of us.

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