On July 20 of this year, I wrote a post about why I was going all-in with Kindle Unlimited (KU). KU is one of those things where you don’t know if it’s something that will prove beneficial unless you actually try it. I can now report that I did try it, I did have some success with it, but, ultimately, I personally have not seen a great enough benefit to remain with the program moving forward. Today is therefore the last day the books in my Alchemancer series will remain in the KU program. The remainder of my books will fall out next month.
As a reader, I like the idea of KU and the idea of having an unlimited selection of books to read (yes, I know, some refer to KU as “Kindle Limited,” because the selection is not as good as Amazon will have you believe). However, my schedule does not allow me to read enough to justify the $9.99/month cost. I enrolled in the 2014 Goodreads Reading Challenge, where I committed to reading 50 books in 2014 (I’m currently at 49, so almost there). That’s about 2/month, meaning I’d pay $5/read if I was enrolled in KU. Not bad, actually, but then what if I don’t read 2 books? What if I only read one? I don’t know if I could handle the pressure! Of course, there are a number of short stories and novellas enrolled in the program, so it’d be nice to read those without having to “pay” for them.
As an author, the program started out fair. I was “selling” multiple copies of my Assassin Without a Name shorts and novellas each day, which was kind of nice because I can see some light at the end of the tunnel in terms of recouping some of the costs associated with producing those little gems. Also, I started moving a good number of my novels. In terms of units moved, KU worked out well. But only in the beginning. More on that in a sec.
Then there’s the payment thing. KU works like this: someone downloads a title, but the author isn’t paid until said reader gets past 10% of the eBook. Amazon pays for each read out of a monthly pot. So, each author receives a share, which is basically the total pot divided by the number of reads in the entire program to determine a ‘per read’ dollar figure. The dollar figure for the months I’ve been enrolled has been somewhere in the range of $1.33 – $1.50 (I can’t remember the exact numbers, but it really isn’t important). For a 99 cent short story, this works out great because, before KU, I would get $0.35 per book sold. However, for a $4.99 novel, where I get $3.50 for an actual sale, KU isn’t such a good deal.
NOTE: There’s a bit of back and forth amongst my peers about if a ‘read’ really replaces a ‘buy.’ In other words, just because someone ‘read��� your book via KU doesn’t mean you lost a sale (i.e., that they would have bought it). It’s impossible to know this, so difficult (and pointless) to debate.
The greatest benefit, and the reason I initially was happy with KU regardless of the payout, was that I was moving units. Not thousands or even hundreds, but some, every day and consistently. This was enough to keep me in the program. But then something happened. Right after Thanksgiving, reads dropped off a cliff. Literally. To the point where, this month, I think I’ve had 2 KU reads credited to my account. Fortunately, sales are going pretty well, so this has been offset. But, with no rhyme or reason to the drop-off, and no way to stimulate things back to where they were before, I don’t have any choice but to ‘go wide’ once more and release all of my titles to BN.com, Google Bookstore, iBookstore, Kobo, and others.
So, the first books to drop out of KU are The Five Elements and The Nullification Engine. The rest will fall out of the program around January 15 of next year.
This is actually good news, though, because I have been invited by various parties to participate in some fantastic opportunities in the near future. Since Kindle Select requires exclusivity, I need to get out of the program anyway. You know that saying, when one door closes, another opens? That’s pretty much the situation I’m happily in. I’ll have more on these opportunities as soon as things solidify enough for me to talk about them.
In the meanwhile, I’m in the process of restoring the first of my books back to wide distribution whilst saying a fond farewell to Kindle Unlimited. See ya!