Saturday, May 26, 2012

The Saga of Beowulf eBook Updates

The Land of Death & Shadow
The Land of Ice & Fire
The Complete Edition
New updated files for the three editions of The Saga of Beowulf have been uploaded to Amazon and Barnes & Noble, so if you've purchased any of these in the past you can now download the new versions. Each text has been revised to include correctly functioning Tables of Contents, including chapter title links back to the TOC for ease of reference, higher resolution images for interior illustrations, and embedded Norse Rune fonts for chapter headers and the Chapter 2 Rune bones sequence (be sure to turn on Publisher Defaults on the Nook to display the fonts correctly). In addition, the "Complete Edition" ebook now includes the Norse Rune Decoder and Author's Afterword originally included only at the end of Part Two. The text itself has received only minor editorial corrections.

Sony Reader, Kobo, and iBooks editions have not yet been updated, as these were uploaded via Smashwords, which only accepts Word docs and strips out all but the essential formatting. Supposedly they plan to start accepting ePubs and other formats as direct uploads without putting them through Meatgrinder (from which you get hamburger), but have yet to do so. I will eventually establish direct uploads to these retailers and forgo Smashwords altogether, and when I do I'll post the info here as soon as it's available.

UPDATED 5-31-2012 to include Nook font embedding.

Friday, May 25, 2012

Self-Publishing Statistics

Two sources of statistics appeared this week that provide some insight into the overall success rate of self-published authors. Both provide some Infographics to illustrate their findings, so I'll embed those below. Unfortunately, neither provide particularly rosy or optimistic outlooks for the average author, even as the self-pub movement expands rapidly and ebook adoption explodes.

The first of these was a survey by Taleist, an Australian publisher/author services provider, who compiled responses to 61 questions from 1007 self-published authors. The report, titled Not a Gold Rush, found among other things that 10% of self-pubbed authors reap 75% of the rewards.

This is hardly surprising, and not altogether different than the traditional publishing route, and I would hazard a guess that 10% is being generous. If, for example, one of those 1007 authors happened to be John Locke the statistics might look very different. 1007 is a very small sample for a field in which 2.75 million books were self-published in 2010 alone. The fact is that the vast majority of those likely sold only a handful of copies, while a handful of authors sold the lion's share, making the ratio something closer to 5% of authors earn 90% of the royalties.

You can see this at work in the Infographic provided by Lulu.com, who are ostensibly celebrating "10 remarkable years" of success for self-published authors by proudly proclaiming that Lulu authors have earned $36 million during that time. They also go on to state that $1.3 million of that went to just five sellers (though not necessarily for just five books, I would point out), leaving $34.7 million for the remaining sellers to divvy up. But with a total of 1,441,000 books published during that time in just the top ten countries, the average total per title royalty is less than $25 ($36 million / 1,441,000 books = $24.98). And that's including the $1.3 million that those top five authors earned. This means that the vast majority of titles likely brought in less than ten or fifteen bucks total for their labors. And Lulu are celebrating this as an achievement!


To add more clouds to this already hazy forecast, Lulu's graphic confusingly provides a breakdown that makes it appear as if 56% of their authors are earning over $56k, when in fact the breakdown only applies to the authors making over that amount, so that it should read "Of authors earning over $25k, 56% earned $25k+..." Of course, they neglect to mention what percentage of their total authorship that represents, but I doubt it's anything like the Taleist's 10%.

If that were the case, then 75% of the $36 million in total earnings would be $27 million, leaving only $9 mil to divide among the remaining 90% of authors. Assuming an even distribution of books among those authors, that would leave a pool of 1,296,900 books to share 9 million bucks, for an average income of just $6.94 per book for the bottom 90%, while the top 10% earn an average of $187.37 per title, which is a damned far cry from $25k. What we're looking at is something more like 1% earned over $25k, while 99% earned next to nothing.

By comparison, Taleist found that half of their respondents brought in less than $500 last year from selling their wares, while the average income was $10,000. Again, this shows how skewed the numbers are toward the top few authors, with just those top 10% of respondents (97 out of 1007) saying that they make enough to live off their book sales alone. Meanwhile, 25% said they did not earn enough to cover the cost of producing their book. 53% had published for the first time in 2011, producing 2.8 books on average during the year, while another 20% debuted in 2010.


Another interesting statistic is this division in the pricing strategy of self-pubbed authors, where somewhat more than half (56%) prefer the volume sales model while the remaining minority (of 44%) think selling at a higher price is the way to go. Unfortunately, the survey did not elaborate on these points, which would have been highly enlightening, since there are many reasons for (and against) both views. It would be useful to know, for example, which of these models was the more successful, and if a higher retail price with fewer sales equated to more or less income, and more or less satisfied readers, with higher or lower average reader ratings.


And finally, the Taleist report concluded that authors who got outside help with issues such as editing and cover design earned 34% more than the average, although 70% of respondents did not do so. Apparently more authors feel that books are judged more by their cover than their content, as 41% invested in a professional cover design, while only 29% shelled out for copy editing.

Surveys such as this are only snapshots of a segment of the industry, but they can shed some light on what is happening and how to make the best of it. You can buy the full report on Amazon for five bucks.

Sunday, May 20, 2012

Infographic: Self Publishing By The Numbers

I love Infographics, and this is a particularly interesting one. It's packed with loads of information comparing traditional publishing to the newly emergent self-pub trend, with a couple of "case studies" for good measure. Some of the info is outdated, such as Amanda Hocking turning down a trade pub deal in favor of self-publishing, when she signed a trade deal well over a year ago (March 2011), or providing sales data for January 2010 that are hardly relevant in May 2012.

In addition, while many writers use Lulu for print-on-demand self-publishing, it's far from the cheapest route to go (both CreateSpace and Lightning Source are less expensive and used by far more authors and independent publishers), so using it as a base of comparison is hardly representative. The $300-500 Initial Outlay for POD services, for example, should start at FREE, since Amazon's CreateSpace charges no initial setup fees and provides an ISBN.

And while it's more difficult to establish an account with Lightning Source, it's well worth the effort, since their per-page charges are far less than either CreateSpace or Lulu, at .013 cents per page for 6x9" black & white plus .90 cents for the cover (and from .05 to .10 cents per page for color, depending on the page size). This makes the production cost for a 300 page paperback $4.80 rather than the $10.50 given in the example. Thus, a $15 book sold at 70% royalty returns $5.70 instead of $3.60, a $2.10 increase in profits per sale, which is more by itself than most trade published authors make as their entire royalty. Of course, you could also lower the retail price of your book and sell more copies instead.

But all in all the data provided in this Infographic is valid and provides a generally accurate comparison of the two opposing business models, clearly illustrating why self-publishing has become so popular of late.


Self Publishing by the Numbers
Infographic by: Website Creation.com

Saturday, May 19, 2012

Global eBooks Sales Up 332%

The Association of American Publishers (AAP) released a new report yesterday detailing 2011 sales data for U.S. book exports, and the rate of digital growth worldwide is quite astonishing. With U.S. ebooks and e-reading devices becoming available internationally only within the last few years, the increase is not entirely surprising, but the rate of adoption in some quarters is rather staggering considering the overall economic climate.

Total U.S. book export sales for 2011 were $357.4 million (71.9 million units), up a modest 7.2% over 2010. Total eBook sales were $21.5 million (3.4 million units), up 332.6% from 2010's $4.9 million total revenue. That makes ebooks just a little over 6% of the global book market, with a lot of room to grow.

The AAP report breaks down the print and ebook stats for four of the leading regions in the West in terms of rapid growth:
  • U.K. ebook sales increased by 1316.8%, while print was up 10.4%
  • Africa saw ebooks rise by 636.8%, with print up 17.1%
  • Continental Europe grew its digital by 218.8% and print by 9.5%
  • Latin America saw ebooks grow by 201.6%, while print was up by 9.7%
No statistics were given for Eastern regions. U.S. publishers currently export roughly 90% of their titles to retailers in 200 countries.

This rapid increase in digital adoption worldwide is the result of markets opening in many regions for the first time, with new Amazon stores in Italy and Spain, new devices now being released internationally soon after their U.S. launch, if not day and date (although there's still a significant lag with, for example, the Kindle Fire not yet available in the U.K. six months after its launch). Instant access to digital content via global networks is becoming more widespread with distribution and marketing limited only by international trade agreements and copyright laws. Within ten years there will be no limits at all, with anyone able to buy a book anywhere at any time, and start reading it instantly (barring governmental restrictions on free speech and commerce, that is).

The implications of this cannot be understated. What is occurring is the creation of a one-world market, a global economy with no borders or barriers, with a resulting increase in literacy and intellectual communication. What the Internet has done for information, ebooks will do for reading in a way that print just can't achieve due to its cost to print and ship. What excites me most when I see these numbers is that it represents a hunger for books, for reading, for intellectual stimulation that stretches the mind and broadens the horizons. With the overwhelming glut of media available these days, it's good to see that kids still want to read, that people love to dive into a good book, to curl up with their Nook or Kindle and get lost. Words have power, to transform, to change, to alter the world we live in, and the more people read them the more possible those changes are.

Sunday, May 13, 2012

The Kindle Color Touch

Another prediction that I made for 2012 looks to be close to fruition as well, and this is one I'm very excited about. DigiTimes is reporting that Amazon plans to launch their first Kindle with a color eInk screen in the latter half of this year, most likely in September. According to supply chain sources, orders have been placed for color touch screen panels from TPK Holding, with components to begin shipping this month.

The new Kindle model will feature multi-touch capacitive displays rather than the infrared panels used currently. Both have pros and cons, but the capacitive panels are generally less sensitive to dust and dirt or interference caused by hovering a finger just above the surface. However, they cannot be used with gloves on as infrared displays can, so reading while waiting at a bus stop in January will be much less pleasant. The main advantage of capacitive touch panels is their faster response time, although they are slightly less clear due to patterning in the glass, with a slightly lower light transmission rate than infrared displays.

With the Nook Touch now sporting the nifty Glowlight feature, Amazon's eInk reader line needs a boost to keep up with the pace of progress. Barnes & Noble have been ahead at every step in device development, putting out the first eInk touch screen reader last May (with Amazon following in September), and now the first with a built in backlight, released just last month. BN also launched the LCD screen Nook Color back in October of 2010, with Amazon following their lead a full year later with the Kindle Fire. This is somewhat surprising given that Amazon was two years ahead of Barnes & Noble getting into ebook readers in the first place (although Sony beat them both, releasing the first eInk reader back in 2004, three years ahead of the Kindle). But Amazon could leap ahead again with the first full color electronic paper display (EPD) launched in the U.S. (Ectaco's Jetbook Color launched in Russia last September, while Hanvon released the first color eInk reader in China back in November 2010).

Ectaco JetBook with Triton Color E-Ink screen
According to E Ink Holdings chairman Scott Liu, the company will unveil new EPD screens soon, which presumably will be the ones to be adopted by Amazon for the "Kindle Color" line. Look to see the fifth generation Kindle this September with a full color eInk touchscreen and built in backlight. Due to the higher cost of components for color screens my guess is it will retail in the $149 range, with the 4th generation black and white devices staying in production as the low-cost entry level models, the bottom end dropping down to around $49 by Christmas.

This, of course, is all speculation.

UPDATE:

So the very next day Reuters reported that Amazon is, in fact, preparing to launch an updated version of its eInk Kindle line this July, including one with a built in light to compete with Barnes & Noble. However, the sources claim it will not be a color display, but the same old boring monochrome that's on the brink of being outdated. Makes me want to buy a JetBook instead.

Now, I can appreciate Amazon's reluctance to release a product that they believe just isn't ready, and there are certainly concerns with page turn refresh rates and the inevitable complaints that the colors aren't as bright as LCD screens. I respect that kind of dedication to product quality. But on the other hand why in my right mind would I bother shelling out a hundred dollars of my hard earned income on a device that's destined for the antiquated junk heap in the not too distant future? I'll never buy a black and white e-reader again, and I don't recommend that you do either.

Yes, the built-in light will be a nice addition, but try selling someone a black and white tv and see how much return on your investment you'll get. Once color televisions appeared you couldn't give away a black and white tv set. Granted, a large percentage of books are composed entirely of words in black and white, so the comparison is not exact, but book covers are all in color, as is the Internet and the Amazon bookstore, all of which you'll want to view on your e-reader at some point.

All in all I'll be very disappointed if a color eInk Kindle does not appear this year. For one thing, it means that fixed layout KF8 support will likely be pushed off further for the eInk models, limiting the venues on which children's books and graphic novels can be viewed. This is a huge market that is crippled by the lack of avenues for their release.

Still, it's just a matter of time, and if not this year, color eInk displays will be coming to the Kindle very soon.

Friday, May 11, 2012

Houghton Mifflin Harcourt to File for Bankruptcy

One of my predictions for 2012 was that one of the major trades would fall prey to bad business decisions based on outmoded operating models and file for bankruptcy protection, and today the Wall Street Journal reports that Houghton Mifflin Harcourt have done just that.

In retrospect this is hardly surprising, given HMH's heavy reliance on the educational market, which has declined by 48% over the past four years, due primarily to cuts in school budgets, but also because of a shift away from printed textbooks to laptops and tablets. In addition, they've been struggling under a capital restructuring plan since January (their second in as many years), with a hefty burden of $3.1 billion dollars in debts that is nearly three times their total gross sales for all of 2011 ($1.3 billion before expenses). And as with all the major trades, HMH has been reluctant to transition into digital, with major list authors like J.R.R. Tolkien only recently becoming available in official ebook editions (just this February for Tolkien, in fact).

Such blundering moves by short-sighted corporate heads are not uncommon, and HMH have made their share. Just four years ago the head of the trade division resigned in protest when the company put a freeze on acquisitions of new titles, a move seen by trade insiders as a monumental blunder when faced with lagging sales. Without new books to offer sales can only stagnate and decline. In 2009, HMH was ranked the 10th worst place to work in America, according to one survey.

In truth, HMH has been operating in debt for over a decade, with new ownership or mergers occurring nearly every year since 2001. But none of the new owners or executives were visionary enough to see the shifting tradewinds, or turn about a ship clearly riding contrary to the current. Whether or not it can ride out the tide will depend on how quickly and effectively they can retool for the new digital medium, particularly with regard to taking on Apple for domination of the educational arena. But big boats turn slowly, and Apple are already heading in the right direction. If HMH simply continue to operate on the business-as-usual model that ship is gonna sink.

Thursday, May 10, 2012

Comments on the Top 10 Most Read Books In The World

I saw this the other day and thought it was really interesting. First of all, it's a cool way to visualize the data, and the graphic itself is nicely done, with the font and design elements replicating the actual print editions of each title. I like graphics, and I like statistics, and I like books, so this was right up my alley.

Of course, what's most interesting is the content. What it represents is the number of copies each of the top ten titles has sold in the past fifty years. That is sold, mind you, not read. There's a big difference. Of these top 10 titles, six are works of fiction (seven if you're an atheist), with the top and bottom two falling into the non-fiction category. The top and bottom are works of an historical nature, while the second to the top and bottom fall into the "inspirational" category, at least in intent (and only if you find these subjects inspiring, of course). Six of these works were originally written in English, and all but The Holy Bible within the last century. Nearly all of the popular fiction works fall within the past fifty years, within the time frame that the statistics take into account (or very shortly before that) - only The Lord of the Rings and Gone With The Wind are older than that - while the three most well recognized by modern readers fall into the "pop culture" bin of the most recent two to three decades (these being Harry Potter, The DaVinci Code, and The Twilight Saga, the most poorly written of the bunch, and of modern literature in general).

Conversely, all of the non-fiction works are more than fifty years old, save for Mao's Little Red Book (otherwise known as Quotations from...), which was first published in 1964. Think and Grow Rich was issued in 1937 and continues to be the best-selling "get rich quick" treatise on the market, and will likely remain so for as long as there are people who want to get rich just by thinking about it (the book, of course, is not about getting rich quick at all, but that seems to be what everybody thinks it's about). After all, it costs nothing to read (if you're a patron of the local library, that is), and even less to sit around thinking about getting rich all day.

My bet is that the three "pop culture" titles will fall off the list within the next ten years, while the more well-crafted works will remain, at least until equally well-crafted and deserving works appear. The influence of The Lord of the Rings has only grown with time as readers discover its astonishing depth and complexity, while Harry Potter's influence will likely wane as the legions of fans outgrow their childhood (if not their fifth grade reading level) and The Twilight Saga becomes gradually indistinguishable from the hundred other vampire-werewolf romance novels out there. Of the "pop culture" trio only The DaVinci Code will have any lasting impact, due not only to its controversial subject matter, but also its pseudo-historical context, which proves ever relevant and fascinating for conspiracy theorists of a literary bent (and there will always be boat-loads of those). The Alchemist is a bit of a dark horse here, being a truly unique entry among these titles, as both a work of fiction and an inspirational self-help allegory. It's hard telling what a book like this will say to people from one generation to the next. It's difficult to say what it means to people today.

As for the other non-fiction works, Mao's book will disappear as soon as he does (i.e. not soon enough), and Gone With the Wind will be just that, as younger generations fail to find an interest in outdated fictional history (read: stuffy and irrelevant). Anne Frank, of course, will have a lasting impact on the history of civilization, of the type that only grows with time and perspective - up to a point, at which it becomes ancient history, and no longer poignant (after all, who reads Caesar these days?). But that won't happen in our lifetime, because for at least the next century WWII will remain recent history, all too close for comfort. What will become of The Holy Bible is anyone's guess. Religion is a fickle mistress.

What would be more interesting here, to my mind, would be a comparative statistic of how many of these purchased books were actually read. The graphic's caption makes the distinction between number of books printed and number actually sold, but more important is the number actually read, a figure unfortunately impossible to determine. My guess is that more than half the Bibles lying around have barely had their covers cracked, while nearly every copy of Harry Potter has long since become tattered and dog-eared. The vast majority of purchased Bibles are bought in bulk by churches and related ministries to give away to third world nations and stock the drawers of cheap hotels. Additionally, there are hundreds, if not thousands, of variations of the Holy Bible, from tiny pocket editions in condensed form to fully annotated comparative editions in multi-column translations. All those count as a Bible sold. Still, 3.9 billion is a lot of books in any form. Too bad the author's not around to get those royalties.

Sunday, May 6, 2012

The "100,000 Visitors" Giveaway

In recognition of the rapidly approaching milestone of 100,000 page views on this blog I've decided to mark the occasion with a contest. As a way of saying thanks for stopping by I'll be giving away a 2-volume print edition of The Saga of Beowulf, autographed and shipped wherever you would like, plus two ebook editions in the format of your choice for the 2nd and 3rd place runners-up.

To enter, simply go to the Fantasy Castle Books website and register or login and send a message to the Contest Department via the contact page mentioning this giveaway. Be sure to opt in for the newsletter to receive news and updates on the progress of the new book and developments on the website, which is in the midst of being rebuilt at the moment. There's a ton of great content coming!

Deadline for entry is Friday, May 11th at midnight Mountain Standard Time (GMT-6), with the drawing to be held on Saturday as soon as I wake up. Entries will be drawn at random using Random.org's list randomizer and integer generator. Best of luck, and thanks again for stopping by!