Because I mentioned I was curious to see how KDP Select authors were going to respond to the new royalty divisions, I have gotten some emails about it. And the month isn’t even over yet.
I’ll start by giving brief explanation:
KDP Select books are borrowable through Amazon Prime and Kindle Unlimited. Every month, Amazon sets aside a chunk of money (I believe it was 11 million in June) to pay for these “borrows.” As of 1 July, we are no longer getting paid just because someone has borrowed our books through one of the above mentioned programs. We get paid by how many pages get read of said books. The big change is that instead of receiving a flat rate every time someone borrows a book, the author receives a pro-rated royalty based on how many pages the reader read of the borrowed book.
For authors like me, this isn’t a big deal. I have 3 books enrolled in KDP Select and I have a low borrow rate on those three books. People tend to just buy them. Also, I’m used to this payment arrangement as Oyster and Scribd do the same thing and I have all my books available on these sites (my 3 KDP Select books are multiple book sets). This means that I have received a whooping $0.25 before because someone only read a small portion of the book.
I consider it an equalizer. Good books get read completely. Bad books get put down quickly. It seems fair to reward the good books with a bigger portion of the Select Fund each month.
Here’s how it has gone for me: My Dysfunctional Chronicles compilation book has been read once, all 627 pages. My Tortured Dreams/Elysium Dreams set has been read once, so far, they have read 300 pages of roughly 700. Since they have gotten that far, I imagine they will finish it.* I have no worries that I will be paid approximately $2.50 for each of these reads.
However, what authors are telling me is that they are unhappy because their book X has only had 400 pages read, despite previous months when they were paid for 100 loans. To me, this says people are starting the book and not finishing it. If you had 100 loans last month and this month those loans have translated to 400 pages, I’m guessing those loans from last month were not complete reads either.
We will have to wait until royalty reports become available at the end of September to know exactly how much we are making per page read… But I’m anxious to find out.
* Note: I believe this to be two people because all 627 pages of the Dysfunctional Chronicles was read in three days and the 300 pages of the Tortured/Elysium set started Sunday with approximately 150 pages read and then another 150 read yesterday.