Crime pays — at least the fictional kind — for Ireland’s best selling children’s author Eoin Colfer, as accumulated profits at his book firm topped €2.6m last year.
The former Wexford primary school teacher has sold more than 25m books translated into 44 languages around the globe about the adventures of his teenage criminal mastermind, Artemis Fowl.
Now, accounts filed by Colfer’s firm, Artemis Fowl Ltd, show that the firm’s accumulated profits last year jumped by just under €800,000 going from €1.825m to €2.622m.
The cash pile at the firm during the year also rose sharply, going from €1.843m to €2.6m.
Short extract from the findings of an interesting, indepth survey into ebook sales and pricing. Highly recommended:
An indie ebook author earns about $2.00 from the sale of a $2.99 book. That book, on average, will sell four times as many units as a book priced over $10.00. In order for a traditionally published author to earn $2.00 on an ebook sale, the book must be priced at $11.42 (if the publisher has agency terms, as Smashwords does) or $16.00 (if it’s a wholesale publisher). Remember, traditionally published authors earn only 25% of the net, whereas Smashwords authors earn 85% net. If your book is traditionally published, and your publisher sells under the wholesale pricing model, you earn only about $1.25 for a book priced at $9.99, whereas an indie ebook author would earn $6.00-$8.00 at that price.
If a reader has the choice to purchase one of two books of equal quality, and one is priced at $2.99 and the other is priced at $12.99, which will they choose?