Self-Publishing Sector Analysis for the Year 2019
📚 Self-Publishing: Riding the 2019 Wave 📚
📝 Here's the skinny on the self-publishing world in 2019, buddy! If you're itching to jump into the literary pool, keep reading to discover the milestones that shaped the industry and learn where it's headed.
🧐 So, what is this "self-publishing" thing you keep hearing about? Think of it as bringing your book to life without the help of a traditional publisher. An author controls everything from design, editing, distribution, marketing, and accounting. You can even outsource the tasks and form a team if you fancy.
📈 The self-publishing market has been booming, with a whopping 1.68 million books published in 2018. With better tech support, the number is expected to skyrocket in the future. Believe it or not, more than 40% of overall ebook sales came from self-published authors in 2018 alone!
💘 Romance and mystery/thriller/crime are the most popular genres in self-publishing, but newly emerging markets, like India and China, have been trending with non-fiction titles.
🛍️ Major retailers have been stepping up their game in the self-publishing arena. Amazon's KDP platform introduced new features, making it easier for authors to pre-order their books up to a year in advance and opening its advertising platform in more markets.
🍎 Apple released a new reader experience in 2019, offering features like wishlist titles to read, and focusing on a user-friendly interface for books. Barnes & Noble introduced a new advertising platform, while Kobo jumped on the audiobook bandwagon and expanded their subscription business in Belgium and the Netherlands. Google Play Books started to reshape its business model by introducing a 70% payout in select territories, as well as working with ebook aggregators.
🤝 Scribd secured $58 million in funding to support growth and product innovation and further their mission to change the way the world reads. They now have over one million paying readers worldwide.
📚 The quality of self-published books is improving, with more indie authors being recognized by the industry. Some writers, such as Susannah Nix and Elizabeth Dyer, have even won RITA awards.
📝 Influencers, like Dave Chesson and Chandler Bolt in the US, and Joanna Penn in the UK, helped other authors grow exponentially in 2019. A.K. DuBoff, Yudhanjaya Wijeratne, and R.R. Virdi, Rhett C. Bruno, and Richard Fox were among the indie authors nominated for prestigious awards, such as the Nebula and Bram Stoker Awards.
🛍️ The global market for self-publishing is growing due to new formats, better marketing tools, and the support from indie author communities.
🎧 Ebooks might be the majority of indie published author income, but print books, and audiobooks are where the future growth lies. With digital services like Amazon KDP Print On Demand, creating print books is more accessible than ever. Apple Books and Kobo have opened up their audiobook platforms, and Findaway Voices engaged in a partnership with Bookbub Chirp to offer recommendations for audiobooks.
💼 Marketing and promotions are still a challenge for many self-published authors. cover design tools like Bookbrush offer DIY solutions for creating beautiful covers, while other freelancers and companies can help you out for a fee. Amazon Author Central Pages and Google Play Books allow you to build your author brand and gather SEO points with an author page. Amazon Advertising, Written Word Media, and other platforms offer excellent book promotion options to boost your sales.
🌍 International markets have experienced rapid growth for English language titles in 2019, with many retailers expanding their services to new markets or adding promotional opportunities. The global self-publishing market has been blooming, especially in countries like Canada, Spain, and Romania. Some retailers, like Scribd, have even opened up shops for Spanish and Romanian titles.
🙌 Collaboration in the form of co-publishing, co-authoring, anthologies, and even IP sharing has been on the rise in 2019, with authors teaming up to create more content quickly. Yudhanjaya Wijeratne highlighted the future of publishing as collaboration at 20books Vegas, and many writers grew their author empire with cowriting.
🤝 It's all about diversifying, bud. Don't keep all your eggs in one basket. Explore international opportunities, collaborate with other authors, and use a mix of publishing strategies to be ready when the market shifts. Now get out there and start that literary journey! 📝
In the ever-expanding self-publishing landscape, authors are not limited to literary works but can also delve into home-and-garden, lifestyle, books, and entertainment titles. As the industry grows, the need for diverse publications continues to flourish, offering opportunities for authors to break new ground. By exploring these emerging markets and fostering collaboration, self-publishers have the potential to diversify their portfolios, aiming for success in various domains.
