Wow! This post by Mark Coker of Smashwords lets all us indie authors on some very disturbing news – basically the devaluation of an already inexpensive way to read your book.
Amazon is decreasing the fee needed for readers to get into their book subscription service: Kindle Unlimited. Now in India, it has cut the cost of this service from $9.99 to $3! with hints of doing the same in other countries.
Read Marks post and see how some readers are responding. It is sad but not to surprising. And Mark gives us all a way to change this. Please read on!
Thanks for the link to Smashwords article on Amazon KDP and KU. Enlightening!! My question is that while authors will make less, will they still be making more compared to traditional agent/publishing costs & royalties?
Marion, I don’t know enough about traditional publishing to answer your question, but for indie or self publishing, this is not a good thing. It devalues our work whether you are in the Kindle Unlimited program or not.
Please explain how lowering the Kindle Unlimited price lowers the value of anyone’s work and specifically the value of the work of authors who don’t participate. Thanks.
Just for the reason Mark gives in his post. Plus, by devaluing the cost of subscription from $9.99 to $3, it says to readers that each book available is worth less. I would guess if the same thing comes to the states then the money authors get in Kindle Select will go significantly down as well.