Was just uploading another fiction book today and I saw this sign and it really inspired me to create more Kindle Books. I know this sounds kind of cheesy, but this stuff is really exciting to me.
This is directly from Amazon
For example, if the monthly fund amount is $500,000, the total qualified borrows of all participating KDP titles is 100,000, and your book was borrowed 1,500 times, you will earn 1.5% (1,500/100,000 = 1.5%), or $7,500 for that month.
I changed the numbers to reflect 600,000 and 300,000 potential buyers:
For example, if the monthly fund amount is $600,000, the total qualified borrows of all participating KDP titles is 300,000, and your book was borrowed 1,500 times, you will earn 1.5% (1,500/300,000 = 0.5%), or $3,000 for that month.
Another way to look at it is:
Amazon customers borrowed KDP Select books from the Kindle Owners’ Lending Library 437,000 times in January. January’s Kindle Owners’s Lending Library fund was $600,000, and authors enrolled in KDP Select received $1.60 each time one of their books was borrowed. (from http://www.amazopia.com/amazon-releases-kdp-select-numbers-for-january/). 1500 x 1.60 = 2,400.
That really excites me because there is this huge pool of money just sitting out there waiting for us to grab. The question is, will you grab it or let someone else take it from you?
Filed under: Publishing
Like this post? Subscribe to my RSS feed and get loads more!