Amazon announced Kindle Unlimited today. While it sounds like a great deal for readers – unlimited books for $9.99 per month – what does it mean to you as an author?
First, if your book is already in KDP Select, it will automatically be included in the Kindle Unlimited program. So if you want to be included just be sure any titles you want to include are enrolled in the KDP Select program.
On the other hand, if you do NOT want to be included in the Kindle Unlimited program, you have the option to immediately remove your book(s) from Kindle Select. (Typically you have to fulfill the 90 days, but this seems to be an exception.) Just include your ASIN on the contact form here.
Second, you will be paid much as you are for titles that are loaned – that is, you will be paid a percentage of the “Global Fund” set aside for this purpose. I generally assume about $2 per book for a loan – and it will be the same for a book “bought” through the Kindle Unlimited program.
Will this help or hurt your book sales? It all depends…If your book is currently earning more than $2 per copy, then it could hurt your profits. However, initially you should anticipate seeing an increase in the number of people reading your books.
One important note: you are only paid for a book “sale” through the Kindle Unlimited program when the reader reads more than 10% of the book. This is the equivalent of reading the “Look Inside” portion – but they must do it after they “buy” the book.
As an author you want to look again at each of your titles and see how you can encourage them to read beyond that 10% mark. Otherwise you won’t get paid! Here are a couple of ideas…
1. Tell them to keep reading. It sounds simplistic, but many times they just need some encouragement. Particularly if you give them a reason to keep reading, such as “keep reading to discover the five secrets of…”
2. Put an incentive further into your book, then remind them about it early in the book. For example, “Be sure to download your checklist. Details are here (with link to later section of the book.)
Keep writing good books and your readers will keep reading – and buying, in all the many methods available to them!