Amanda Hocking says that her book sales have generated somewhere between 1.4 – $2 million in royalties. Amanda used to live from paycheck to paycheck and would write her fiction in her spare time. Amanda shares about herself at her blog.
How She Does it
Amanda started selling eBooks on Amazon Kindle for $0.99 a piece. Because this price is in the impulse buying range, people give it a go because they don’t have much to lose. What she does now is begin a Trilogy series and sell the first one for $0.99 and parts two and three sell for $2.99.
Anything priced below $0.99 cents generates a 30% royalty, while the $2.99 titles generate a 70% royalty. As you can see, with over 100,000 copies a month being sold, this quickly adds up.
Amanda Hocking Talks on KTTC
It still hasn’t sunk in yet that she is a millionaire ..
The Amazon Kindle Opportunity
Previously, an Author had to self publish their work into PDF format, build a website, and recruit an army of affiliates to sell their work. Unless they recruited some super affiliates, these self publishers stayed poor and broke.
The success of the Amazon Kindle eBook platform however allows book authors to self-publish their work for free and have it available to millions of Amazon customers almost instantly.
The self-publisher has to provide the book in digital format such as a Word document, along with an eBook cover graphic.