So he decided to publish it himself.
Sounds familiar, huh?
He also created an online platform to help other authors publish and market their books. Thus was born Wubbit.com.
I have no first hand knowledge of Wubbit, but according to Cincinnati online:
Wubbit lets authors and small presses register books on the site for sale directly to consumers or bookstores. Wubbit charges a one-time $36 registration fee but then pays the seller 65 percent of all retail sales. Bookstores can purchase on the site at a wholesale discount, still giving authors 45 to 55 percent of salesLoomer is working on getting books on Galaxy Press and in independent bookstores.
For authors, Loomer will continue to roll out new services, like the ability to use Mitchell's publishing services and the marketing and printing offerings of other partners. Wubbit.com will also have a platform for them to build personal web pages and to offer electronic books that can be used on an iPad, Nook or Kindle.He’s also investing in electronic bar code technology. All in all, he expects by the end of this year, he’ll have invested $1 million.
We may have to wait to see what happens with Wubbit to know whether it’s a great deal for writers, What do you think?
Wow--that's a huge investment he's thinking of putting into his business!
ReplyDeleteI'd only hope that the writers would use a professional editor (like you, Helen) before having their book published.
Like Elizabeth said, that's a huge investment.
ReplyDeleteI think the more venues open to indie and small press authors, the better for author and reader alike.
It sounds interesting. There's so much going on right now, and it hard to know what's going to take off.
ReplyDeleteBig investment! I think this is what the industry needs. We all know authors have traditionally gotten the smallest piece of the pie. It makes less sense now, especially since we all work hard at promoting ourselves. We're told to build platforms and when we do someone else profits. That's not right. And it doesn't make sense that publishers struggle to make money either. Somethings broken here.
ReplyDeleteGood luck to this pioneer.
That's a lot of money! Hope it pays off for everyone involved.
ReplyDeleteIt sounds like another interesting avenues for some writers to consider, which seems to be one of the benefits of all the latest technology. Options are really opening up for writers in ways not considered possible before.
ReplyDeleteI agree with Elizabeth. I'm hope he profits from his investment. Maybe it's the next "best thing"!
ReplyDeleteIt sounds good and admittedly, I'm not that good at math, but I took out my calculator and figured the 65% to sellers on a $14.95 book, which equals $9.72. (Wholesalers usually get 55% or 15% net because bookstores get 40%). Then he pays writers $45-55% or $6.73-$8.22. That doesn't add up unless he's only paying writers on net sales, which only amounts to $2.35-$2.88 per book. So he earns a nice fat profit. If my figures are wrong on this, someone correct me.
ReplyDeleteThere are so many places for authors to directly publish their books that I wonder if that weakens the market for all. Of course, a lot depends on the ability to market a particular site and service. Looks like this one has got strong marketing features.
ReplyDeleteJean, I haven't a clue whether you're right or wrong. Perhaps someone else who's good at math and knows how to calculate it will weigh in. It sounded to me like if a person buys a book through Wubbit, the author gets 65 percent of the sale. If a bookstore buys a book, the author gets only 45 to 55 percent of the sale since bookstores get the book at a discounted price.
ReplyDeleteI feel sure that he's worked a way to make money to pay back his investment and get into the green, just like any other service.
No matter how good any offer or project sounds, though, authors need to do the math and figure out which one is best.
How interesting! I can't imagine having 1 million to invest!! It will be interesting to see how this develops.
ReplyDelete...from a writer's standpoint, everything hinges on the marketing. 65% sounds otherworldly, but if its not marketed correctly, many potential readers will have a difficult time getting their hands on it. Having one's work supplied on indie shelves is a promising start however, and a cool million's definitely a major investment, so who knows...
ReplyDeleteThanks for the info:)
It does seem like a site to keep an eye on and find out what's happening.
ReplyDeleteI have to admit if I had one million to invest in my career I would use the money to promote my own work not develop a site for others to use for their works. There must be a good pay back for him but I believe in capitalism so I hope it works out for everyone involved.
ReplyDeleteThanks, Helen
ReplyDeleteAnother possibility to explore. I'm still trying to figure out Smashwords at present.
Morgan Mandel
http://morganmandel.blogspot.com
http://facebook.com/morgan.mandel
That is certainly a lot of money. I pray for his success. Not only for him, but for the other writers trying to get a foot into the world of publishing and writing.
ReplyDeleteYou have a fascinating blog, Roland
I wish him success but I will happily stick to traditional publishers. I am doing a lot to market my first book, and the publisher is doing so much more!
ReplyDeleteIt sounds very interesting. To invest that kind of money he must be confident of good return.
ReplyDeleteMorgan, good luck on that. Take notes and write them down somewhere so you'll have them for the next time.
ReplyDeleteRoland, thanks for stopping by.
Yay, Terra! It does help to have a partner.
That's what I'm thinking, Glynis.
Author J.A. Konrath decided that he could make more money offering his books as ebooks himself then going through Amazon, etc. Not as all out as self publishing, because he still had his "paper" novels published through conventional methods, he did find out that he could make a lot more money offering his ebooks himself at a significant LOWER price than the now ebook standard. Nice to see the author getting their just rewards.
ReplyDeleteAuthor J.A. Konrath decided that he could make more money offering his books as ebooks himself then going through Amazon, etc. Not as all out as self publishing, because he still had his "paper" novels published through conventional methods, he did find out that he could make a lot more money offering his ebooks himself at a significant LOWER price than the now ebook standard. Nice to see the author getting their just rewards.
ReplyDeleteI agree, Suzanne, that is nice. Konrath is a major player when it comes to promotion. He's been ahead of the game when it comes to selling.
ReplyDeleteInteresting approach. I am thinking Loomer is likely a great poker player with the $1 million down.
ReplyDeleteThis is a possibility to further explore. However, I'm not a fan of self-publishing, at least not for myself.
ReplyDeleteI do wish him the best of luck!
Thanks for this information, Helen. I'm going to look into it.
ReplyDeleteLillie Ammann
A Writer's Words, An Editor's Eye
I wonder how the big guns consider him.
ReplyDeleteSteamy Darcy
Good analogy, Slamdunk.
ReplyDeleteEnid, my guess is they don't consider him. Even with his big investment, he's still a newbie.