As we announced last week, for the rest of June, all nine of our ebooks will be available for $4.99/title—a pretty good bargain, especially since they’ll go back to the standard $9.99 on July 1st . . .
You can find info about all our available ebooks by clicking here here. (In case anyone’s interested, the best-selling ones from the last week are: The Golden Calf followed by The Pets, and then Guadalajara and Death in Spring.)
After making our pricing announcement, Ed Nawotka of Publishing Perspectives asked me to write a piece explaining our decision, some stuff about ebook pricing in general, and my problems with the $.99 ebook.
Here’s a link to Why Selling Ebooks at 99 Cents Destroys Minds, which includes this:
But what’s really at the top of the e-book best-seller lists? As of this very moment (10:10 pm on Wednesday, June 8th), here are the top five and their prices: A Little Death in Dixie by Lisa Turner, $0.99; My Horizontal Life by Chelsea Handler, $1.99; The Hunger Games by Suzanne Collins, $5.00; Summer Secrets by Barbara Freethy, $4.99; and The Help by Kathryn Stockett, $9.99.
So aside from The Help, which is the 9th bestselling book in paperback, the top five are all $5 or less. And aside from The Help, none of these books are in the top 10 for Literary Fiction paperback sales. So what does this mean?
At BEA, Keith Gessen introduced me to the works of John Locke (probably not the one you’re thinking of), a best-selling Kindle author whose books are all sold for $0.99. He made over a hundred thousand of dollars in royalties last year — far exceeding the wildest dreams of most every mid-list (if John Locke is even midlist) author in the country. Having read the opening of one of his “Donovan Creed” novels, I can assure you that he’s not selling all these books due to his talent. No offense intended, but let’s be real about this — it leads to a much more interesting conundrum.
And goes on from there . . .
Ed wrote the daily “conversation piece” for Publishing Perspectives, which he entitled Can Affordable Literature Ever Compete with ‘Palatable Plonk?’
As discussed in today’s feature story, you can now buy any number of e-books for 99 cents or less on Amazon. Few would mistake what’s being sold so cheaply as high literature, but one has to acknowledge that it takes skill to craft something that a large audience of people will enjoy.
In the wine business, the fact that you can now buy drinkable box wine in your local gas station/supermarket has indeed expanded the audience for wine. The hope is that drinkers, as their palette becomes sophisticated, will move up the price scale to sample more challenging fare. [. . .]
Can the same be said for the book business? Certainly just think of fiction as red wine, and non-fiction as white, each goes with a mood, setting, circumstance.
Ultimately, the question is not whether inexpensively priced literature entice new readers and serve as a gateway for readers to discover new writers, but can it ever compete, at lower prices, with the John Locke’s and Amanda Hocking’s of the world? And, at the end of the day, does it matter so long as everyone’s needs get met?
In my opinion, the answer is no, not when — to go back to the wine analogy — the cheap stuff can get you just as drunk. Of course, you also have to remember that with the cheap stuff, once the buzz wears off the hangover is often much worse — and you’ll have an even harder time facing yourself in the harsh light of day.
Be sure to check out the comments—that’s where the real fun comes in . . .
I’ve written in the past about the $9.99 ebook and my belief that supply and demand is the most important factor in arriving at this price point. Over in Slate, Jack Schafer argues that a side-effect of publishers trying to increase ebook prices (because they’re afraid that a cheap ebook will cannibalize the expensive hardcover market, cutting into their already diminishing profit margins), will be a huge rise in piracy:
What has kept illegal e-books from taking off? First, all the electronic reading gadgets on the market are subpar, if you ask me, making the reading of books, newspapers, magazines, and even cereal boxes painful. The resolution is poor. The fonts are crap. The navigation is chunky. Not since the eight-track player has modern technology produced such a heap of garbage. If you’re looking for the reason e-books constitute just 1 percent or 2 percent of all book sales, stop the search. Second, the hassle factor is too great. Only a student or a deadbeat with a lot of time on his hands is going to want to search the Web and scour the torrents for, say, a free, bootlegged copy of A.J. Liebling’s The Telephone Booth Indian. It’s as tedious as fishing! Third, not all bootlegged e-books are created equal. On finally finding that free book you so desire, you may find yourself wishing you had purchased the legal edition: Your bootleg may be filled with typographical errors, thanks to the slipshod application of optical character-recognition software. If a nicely produced Kindle version of The Telephone Booth Indian that doesn’t have to be monkeyed around with can be easily nabbed for $9.99, which it can, why bother breaking the law to obtain an inferior edition for display on a rotten device? It’s like using an acetylene torch to loot a kid’s piggy bank. [. . .]
So far, few consumers think books should be free—a fact that I attribute to the klugy Kindle and its affordable Amazon store. I conducted an informal census of friends and associates who read lots of books, and I found none who partake of the bootlegged variety. But that could change in a matter of months if the book industry insists on 1) jacking up the price of e-books and 2) withholding potential best-sellers from the e-book market. Cool devices that make electronic reading painless are just around the corner, and the e-book market is about to explode. If publishers insist on pushing prices too high and curbing availability, consumers could rebel—as they did with the sharing of MP3s—and normalize the trafficking of infringing e-books.
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