Sunday, 27 June 2010
Amazon offers authors bigger cut of book sales, snubs traditional publishers
Amazon is playing hardball with book publishers.
The Seattle online bookseller this morning said it will give authors a 70% cut of the sale of e-books sold for its Kindle readers, net of digital delivery costs -- essentially offering writers a way to bypass traditional book publishers.
In a direct snipe at print publishers, the company asserted that authors would get more money if they published digitally with Amazon.
"Today, authors often receive royalties in the range of 7 to 15% of the list price that publishers set for their physical books," Russ Grandinetti, Amazon's vice president of Kindle content, said in a statement. "We're excited that the new 70% royalty option for the Kindle Digital Text Platform will help us pay authors higher royalties when readers choose their books."
More here (courtesy Los Angeles Times)