The proliferation of self-published books over the last decade has been incredible to say the least. An industry that was seemingly once dominated by overt market research and agents telling an author what will and won’t sell before an author even submits to a publisher for consideration is now seemingly dominated more and more by independent authors and publishers flooding the market with different genres.
Much of this rise in self-publishing can be attributed to Amazon Kindle Direct Publishing (KDP), which was launched in 2007 as one of the first major self-publishing outlets. Nowadays, there are a plethora of options available for authors with many other publishers and companies getting in on the action. In 2023, it was reported that there were close to 300 million self-published books sold each year with 30% to 34% of all ebooks sold being self-published compared to those from large publishers. This represents a 264% increase in self-published books across a five-year span. And those numbers seem only to be growing as the market continues to expand.
Why is self-publishing being embraced the way it is now? There are a multitude of reasons. One of the biggest reasons is the increased creative control that authors have with self-publishing their material. John Bond, a former managing director at HarperCollins and co-founder of independent publisher Whitefox, said it best: “There’s still a bit of a stigma around self-publishing, but it’s changed, because more people want to have creative control of their own books. They want to do things in a time frame that suits them, rather than hope that they will find an agent, and that the agent finds a publisher, and at some point, in the future, that book is published. New writers are saying: ‘I can do something relatively quickly and learn how to be an entrepreneurial, self-starting author.’”
With Whitefox, Bond says that he has worked with a number of authors who published books with traditional publishers who have now switched to an independent self-publishing model in order to write and release books that don’t “necessarily fit in with the sorts of books that the traditional publisher is publishing.” In his view, self-publishing with a smaller independent service has given hope to authors with non-traditional book ideas. “It’s now possible to [self-publish] in a credible, professional, authoritative way. It’s not somehow a failure if you haven’t found a traditional publisher.”
Although it’s not just the creative freedom that self-publishing offers for authors. There can be significant financial benefits if a self-published title can pick up steam. Authors can generate significantly better royalties on self-published titles compared to those published traditionally. Amazon KDP offers 35% to 70% royalties on their book sales, compared to traditional publishing, where authors typically earn 16% to 25%. This amounts to approximately $520 million each year in royalties going to authors. On average, authors who self-publish through their own website can collect up to 96% royalties on their book sales. In general, self-published authors seem to generate more income than authors of traditionally published books at least with their first book. In the last 10 years, 1,200 traditionally published authors have earned more than $25,000 a year compared to 1600 self-published authors who reported earning more than $25,000.
The democratization that self-publishing offers has also worked in some ways to close the gender gap at least somewhat. It is reported that 67% of top-rated, self-published books are written by women, compared to just 39% of traditionally published books. It was also reported in 2023 that LGBTQIA+ authors were out-earning heterosexual authors by 19% among self-published titles.
Of course, there are downsides to self-publishing especially if you are planning on making writing your career. Unlike in traditional publishing, authors are usually not offered an advance for their book and are responsible for publishing costs and advertising. 90% of self-published books sell less than 100 copies, and one-third of self-published authors report a yearly income of less than $500. And while many authors have used social media like Instagram and TikTok to market their books successfully, the financial burden of self-publishing does put more pressure on authors compared to traditional publishing. This burden has led some authors to return to traditional publishers. Author Hazel McBride, who self-published numerous books said that she went back to a traditional publisher because she “needed help. Self-publishing requires so much: knowledge of how to market your book, connections with designers, hiring freelance editors, an understanding of how to typeset, navigating budgets, running your own business. Self-publishing requires an author to be a jack-of-all-trades, and I am self-aware enough to know my own limitations.”
Nonetheless, many authors are taking a chance on themselves and their material and opting for the self-publishing route. For some authors who just want to get their book out on the market, the creative control and power is the most important factor. Author JD Kirk, who self-publishes most of his titles and won the 2024 Kindle Storyteller Award, says “there’s never been a better time to be a self-published author. Having spent more than 10 years writing for some of the biggest publishing companies in the world, I’ve never been as creatively or financially well off as I have been since falling into self-publishing my own work.” He goes so far as to call it the “golden age of opportunity” in publishing.
If you are considering self-publishing but need help with editing and planning, consider reaching out to our Author Services team here at Technica Editorial.
By Chris Moffitt
Chris is a Managing Editor at Technica Editorial
