Amazon Boosts Payouts To Kindle Direct Publishing Authors
Amazon launched the Kindle Owners Lending Library back in November, 2011. Available to Amazon Prime members to borrow for free, the library is a huge boon for self-published authors, or as Amazon styles them, “Kindle Direct Publishing” (KDP) authors.
Basically, independent “self-published” authors sign the digital rights to their book for a contract period with Amazon. They keep the paper publishing rights, but cannot distribute their book electronically anywhere else – not even their own website – for the duration of the contract. But, the benefits from Amazon’s KDP program are handsome nowadays.
From Amazon’s KDP Select FAQ:
“Your share of the Kindle Owners’ Lending Library Fund is calculated based on a share of the total number of qualified borrows of all participating KDP titles. For example, if the monthly fund amount is $500,000, the total qualified borrows of all participating KDP titles is 100,000, and your book was borrowed 1,500 times, you will earn 1.5% (1,500/100,000 = 1.5%), or $7,500 for that month.”
Amazon announced today that the library has over 75,000 books, and that they have increased the fund pool total from $500,000 to $700,000.
For those authors who rank in the top tier of borrowed books, those numbers can be sweet. Amazon announced these examples of KDP author earnings from the program:
* Carolyn McCray, a writer of paranormal romance novels, historical thrillers and mysteries, earned $8,250 from the KDP Select fund in December.
* Rachel Yu is a 16-year-old author of children’s books, and she earned $6,200 from the KDP Select fund in the month of December.
* The Grabarchuk family earned $6,300 from the KDP Select fund in December from their puzzle books.
* Amber Scott is a romance writer and earned $7,650 from the KDP Select fund in December.
Amazon says it will add at least $6 million to the KDP fund in 2010.