In September 2023, Publishers Weekly published an article that put in hard numbers the challenges faced by authors trying to make a living from their books. The survey from which the results were gleaned was conducted by the Authors Guild. Of the 5,699 published authors who responded, “their median gross pre-tax income [in 2022] from their books was $2,000.” Adding in other writing-related activity, annual median income rose to $5,000—and that was a 9% increase from 2018. With more than 2 million books being published each year now, the competition has gotten even more overwhelming. That means it’s more difficult than ever for authors market their books and profit from book sales. For the 10% of authors who do live off the royalties generated by their books, their median book income was $275,000.
This information lurks in the back of my mind whenever I come across a “wannabe” author expecting to garner both fame and fortune by writing a book. Sure, it’s possible. Anything is possible. But the likelihood that an unknown writer will publish a book that will skyrocket to fame and rain down money on the lucky author is infinitesimal. The likelihood that an author who self-publishes without following a process of best practices will reach that desired goal is even less. So, what can an author do?
Adjust your expectations. Prevent crushing disappointment by adopting realistic expectations. Don’t think that because you launched your masterpiece on the unsuspecting public that everyone will want to read it. In fact, the folks one might think most likely to support your burgeoning career as an author by buying your books may request that you give them copies for free. Whether you comply with that request is up to you.
Follow best practices. Simply put, if you want to run with the big dogs, then you should do what the big dogs do. Publishers don’t stay in business if they don’t generate profits, and they know what the reading public expects: on-point cover art, intriguing back cover copy, well-written and well-edited content, page design that aids the reading experience. To achieve this, publishers hire professionals: editors, copywriters, graphic artists, graphic designers. The expenses incurred in the production of a quality book result in authors receiving small shares of the royalties their books earn. If you’re going to compete as a self-published author, then you have to meet the competition on their field. Since most authors aren’t experts skilled in writing and editing and graphic art and graphic design, then they’re well-advised to hire professionals to help them.
Understand your responsibilities. With shrinking profits and increased expectations, traditional publishers are shifting more of the marketing responsibility upon authors. They put their marketing dollars behind well-established authors who can be counted on to generate profits, not behind untried authors whose books are less than likely to earn out their advances. Self-published authors are entirely responsible for their own marketing. For those authors like me who know marketing is necessary but don’t have (or don’t want to have) true expertise at it, hiring book marketing professionals is an option. It’s not a cheap option, but it may very well be an effective, time-saving option.
So, if the forecast of living off one’s royalties is so dismal, then why bother writing and publishing?
Writing for many authors is a vocational passion: we cannot not write. I put it this way: If I didn’t write stories, my mind would explode. I believe my stories are worth sharing with the world. As a child I dreamed of being a published author. As an adult, I made it happen. I doubt I’ll ever get rich, but writing is, for me, more than a money-making endeavor. It’s more important than that.
In fact, one might consider writing, for most authors, to be an expensive hobby. Well, not writing, but publishing. Sure, it’s easy to write something and upload it for the world to see. However, if you want people to buy it, then it must be something they consider worth spending their hard-earned money on—and that means investing in quality.
I try to do that.
