Who’s going to make a ton of money with their ebooks?

I hear a lot about writers who are making money hand over fist with their ebooks. Those are the people who talk about it. I also know a lot of authors who aren’t making enough to pay the cover artist, the editor, or the copy editor. Or who didn’t pay for any of those things, and are probably making even less money. (People putting up their out-of-print books have the advantage that an editor and a copy editor have already worked their magic - but you still have to create a new cover.)

I myself make a little money from putting my back list on the Kindle and other e-readers. All My Books on the Kindle (Including 5 for $2.99. But not millions.

An article in the Washington Post points out the same enormous successes these articles always do: Amanda Hocking and JA Konrath, as well as a few lesser known names. But it also injects a note of caution:

“The overwhelming number of self-publishing e-authors are consigned to the same fate as their print counterparts: oblivion. “We have less than 50 people who are making more than $50,000 per year. We have a lot who don’t sell a single book,” says Mark Coker, founder of Smashwords.com, a Web site that helped launch indie publishing.”
Read on for a balanced view.



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