So, as many of you have, I received a very interesting letter from Amazon’s KDP Select department today. If you haven’t received this letter, you can read it in full here: https://kdp.amazon.com/help?topicId=A156OS90J7RDN
The email has slightly different text, but the same basic points. I’m going to take a few moments to break this down a bit and talk about the good, the bad and the downright depressing aspects of these new payment terms.
“…beginning on July 1, the KDP Select Global Fund will be paid out based on the number of pages KU and KOLL customers read”
That’s right folks. KU is no longer paying per-borrow, nor are they continuing to require a book be read to at least 10% to earn a payment for the author. For the past six months, the payout to authors has been disappointing, to say the least, with the average being $1.40 earned per KU borrow (if the reader got beyond 10%). This has been due to the fact that the Payout Pool has been flooded by books, generally shorter reads, that ate up all the funds. Books that were 25 pages earned the same /borrow rate as 250 page books.
That’s all about to change. Now, being paid per page means that the 25 page novellas filling the pool are going to be earning significantly less than their 250 page swimming-buddies. But, exactly how significantly less isn’t being honestly represented.