Terry Goodkind goes self-pub

[DiapDealer]

Now that our PSPH has proved herself, what are the odds that she will make the same choice once a BPH comes calling?

PSPH is really quite a condescending term as you seem to use it. There's no need to embellish your disdain... your general lack of respect for all things not BPH has been noted for quite some time now.

[stonetools]

Originally Posted by DiapDealer

PSPH is really quite a condescending term as you seem to use it. There's no need to embellish your disdain... your general lack of respect for all things not BPH has been noted for quite some time now.

Since I am currently reading the self-published "Wool" right now, that's some unintended irony in that statement..

No, its not disdain-its amusement at those who set up successful self-pubbers as harbingers of a new future, birthed through disinterested efforts of Amazon-a future where budding authors can follow their own true calling and freely self-publish, without having to go through those corrupt, dinosaur-like gatekeepers- the dreaded "BPHs".


After awhile, I can't resist puncturing such pretension. I'll try to be more resistant in future.

[haydnfan]

Originally Posted by stonetools

Why is he doing this book self pub? Well, it could be:

1. His editors at Tor told him this book was not up to par and he decided to that they were wrong and to put it out himself.

2. He just wanted a one off experiment.

3. This is the first step in a campaign to gradually move away from traditional publishers' "plantations" into the bracing freedom of "self publishing".

Personally, I think (1) most likely, although many folks here like (3).

If you've read any of Goodkind's novels then you know that he is strongly libertarian, always espousing the philosophy of Ayn Rand. That makes in my mind #3 the most likely option. I could see Goodkind wanting to be rid of the parasites.

[ATimson]

Originally Posted by haydnfan

If you've read any of Goodkind's novels then you know that he is strongly libertarian, always espousing the philosophy of Ayn Rand. That makes in my mind #3 the most likely option. I could see Goodkind wanting to be rid of the parasites.

He still has two more novels under contract Tor, though (one written and IIRC scheduled for release this year, one not). Wouldn't it make more sense to see those through first?

[fjtorres]

Originally Posted by ATimson

He still has two more novels under contract Tor, though (one written and IIRC scheduled for release this year, one not). Wouldn't it make more sense to see those through first?

Only if the contract had a total non-compete like the one the Penguin editor claimed on Kiana Davenport.
http://bits.blogs.nytimes.com/2012/0...s-amazon-deal/

Contracts are binding on both sides but only to the extent that the contract specifies. And it makes sense to test the self-pub waters as soon as possible and not wait for the existing contract to run out.

If he has two novels left on the contract, no right of first refusal, no non-compete clause, and no other obligation under the contract, then he would be well within his rights to do as he pleases even up to releasing another book the exact same day as his next trad-pubbed release. It would be tacky and self-defeating but he could.

As he is going nowhere near that far and we've heard of no Penguin/Davenport-like tantrum ongoing or brewing it is safe to assume that both sides are (so far) acting like restrained, mature professionals.

In the current climate we need more of that and less posturing and vitriol because from now on the game includes *both* self-publishing and traditional publishing options and throwing hissy fits will change nothing.

Which way an author goes should be simply a matter of cold calculated business interest. As long as the books get to market, *how* they get to market won't much matter to readers.

[Top100EbooksRank]

Tracking this book on Amazon Kindle Best Sellers:

July 3rd: #28
July 4th: #54
July 5th:
July 6th: #101
July 7th: #103


With 70% royalties (minus about $0.10 in delivery fee), the author is making bank, especially since the book is selling pretty well.

($8.99 - $0.10 delivery fee) x 70% = $6.22 for Terry Goodkind for each book sold.


At this rate, it will sell more than 10,000 copies pretty soon (with B&N, Kobo, Itunes etc...added). 10,000 x $6.22 = $62,200 in royalties for the author.

Bestsellers Rank 40,000 to 100,000 - selling close to 1 book a day. (per kindleboards)

Bestsellers Rank 8,500 to 40,000 - selling 1 to 10 books a day.

Bestsellers Rank 3,000 to 8,500 - selling 10 to 20 books a day.

Bestsellers Rank 1,500 to 3,000 - selling 20 to 40 books a day.

Bestsellers Rank 1,100 to 1,500 - selling 40 to 50 books a day.

Bestsellers Rank 900 to 1,100 - selling 50 to 65 books a day.

Bestsellers Rank 750 to 900 - selling 65 to 85 books a day.

Bestsellers Rank 350 to 750 - selling 85 to 150 books a day.

Bestsellers Rank 200 to 350 - selling 150 to 175 books a day.

Bestsellers Rank 100 to 200 - selling 175 to 300 books a day.

Bestsellers Rank 80 to 100 - selling 300 to 400 books a day.

Bestsellers Rank 70 to 80 - selling 400 to 500 books a day.

Bestsellers Rank 50 to 70 - selling 500 to 650 books a day.

Bestseller Rank of 45 to 50 - selling 650 to 700 books a day.

Bestseller Rank of 30 to 45 - selling 700 to 900 books a day.

Bestseller Rank of 20 to 30 - selling 900 to 1,300 books a day.

Bestseller Rank of 10 to 20 - selling 1,300 to 1,800 books a day.

Bestseller Rank of 3 to 8 - selling about 4,000+ books a day!

That's all I've got for now.

Sales Rank 1: 3,000 to 5,000 sales per day. Please Note: On Launch Days this can be a LOT more.
Sales Rank 5: 2,000 to 3,000 sales per day.
Sales Rank 10: 1,500 to 2,500 sales per day.
Sales Rank 25: 1,000 to 2,000 sales per day.
Sales Rank 50: 800 to 1,000 sales per day.
Sales Rank 100: 700 to 800 sales per day.
Sales Rank 150: 400 to 500 sales per day.
Sales Rank 200: 300 to 400 sales per day.
Sales Rank 500: 100 to 150 sales per day.
Sales Rank 1,000 – 50 to 100 sales per day.
Sales Rank 5,000 – 25 to 50 sales per day.
If you have better figures or better estimates – please let us know.

Guesstimate:

July 3rd: #28 ----maybe around 1,500 ebooks sold
July 4th: #54 ----maybe around 800
July 5th: ? ------maybe around 600
July 6th: #101 -----maybe around 450
July 7th: #103 -----maybe around 450

That's 3800 for the first 5 days from Amazon. Add in other stores (1,900) with the assumption that Amazon = 2/3 and other stores = 1/3.

5,700 in 5 days.

5,700 x $6.22 royalties = $35,454.

[fjtorres]

Originally Posted by Top100EbooksRank

Guesstimate:

July 3rd: #28 ----maybe around 1,500 ebooks sold
July 4th: #54 ----maybe around 800
July 5th: ? ------maybe around 600
July 6th: #101 -----maybe around 450
July 7th: #103 -----maybe around 450

That's 3800 for the first 5 days from Amazon. Add in other stores (1,900) with the assumption that Amazon = 2/3 and other stores = 1/3.

5,700 in 5 days.

5,700 x $6.22 royalties = $35,454.

He's using an agent so the number should be a tad lower.
But your point stands; he looks to make a typical advance in a week or so.
And if the book stays in the top 500 for a couple of months he should be raking in a comfortable take. Of course, "comfortable" is relative. There's no telling what his expectations were like.

Still, it is an interesting experiment you've done, tracking the book's sales.

[Top100EbooksRank]

Look like if this is a success, there will more to come from Terry Goodkind

We Appreciate Your Support

This novel is an Author self-published release. It is supported directly by you, the reader. Your purchase is vital to the success of this novel and our ability to continue offering these stories. Thank you for purchasing The First Confessor.


http://www.terrygoodkind.com/theoracle/ebooks/

Why are ebooks better than printed books?

It was easy for us to piece together this list. Looking back, it's surprising this is even a contest.

[charlesatan]

I also want to clarify that he's not getting 70% off the retail price. If all the customers were from the US, yes (minus small delivery charge, which I'm sure is negligible in this case).

If I buy his book for example, he'd only be getting 35%, and I'm paying $2.00 more.

Is it worth it in the long-run. Will have to see. Benefits of HIM publishing traditionally is still:

a) he gets an advance (which might not be as important now considering the previous success of his books)

b) a large advance since he's a best-selling author.

Still, it might pay off if his eBook sales are maintained.

[charlesatan]

Originally Posted by stonetools

Why is he doing this book self pub? Well, it could be:

1. His editors at Tor told him this book was not up to par and he decided to that they were wrong and to put it out himself.

2. He just wanted a one off experiment.

3. This is the first step in a campaign to gradually move away from traditional publishers' "plantations" into the bracing freedom of "self publishing".

Personally, I think (1) most likely, although many folks here like (3).

Probably #2 for me. Possibly #3 out of self-interest rather than for Libertarian reasons.

For #1 for example, I'm sure Tor would love to publish another Sword of Truth book. (And honestly, some of the books in the series were crap, and were still published by Tor.) And Goodkind got the opportunity to branch out into a different milieu with Law of Nines.

[ATimson]

Originally Posted by charlesatan

For #1 for example, I'm sure Tor would love to publish another Sword of Truth book. (And honestly, some of the books in the series were crap, and were still published by Tor.) And Goodkind got the opportunity to branch out into a different milieu with Law of Nines.

Well, Law of Nines appears to have tanked. (Amazon has non-remaindered hardcovers available for $3.50 each.)

I am curious as to how well The Omen Machine did - whether people were buying Terry Goodkind fantasy novels in general, or if they were buying Sword of Truth novels in particular. I know that for me it was the latter, which is why I borrowed it from the library instead of buying at release (unlike the last half-dozen books in the series). I'd indulged the author's... excesses? eccentricities? in later SOT books because I wanted to know how the story ended. Standalones with the characters... well, except Zedd... wasn't something I was exactly champing at the bit for.

(It helped that the ebook was windowed. If it wasn't, I'll have to be honest and say that I might have surrendered and bought it. )

[fjtorres]

Originally Posted by charlesatan

a) he gets an advance (which might not be as important now considering the previous success of his books)

b) a large advance since he's a best-selling author.

Still, it might pay off if his eBook sales are maintained.

a) advances are, as the very term suggests, the publishing equivalent of payday loans. They tide you over until the (royalty) paycheck gets in. Like them, they aren't too far from disguised loansharking. Unless Goodkind has been really unwise in his money management he should be well past *needing* an advance.

b) the second use of advances is to disguise higher royalty rates for best-selling authors who get paid such large lump-sumps for their books they never earn-out their "advance" at the nominal rate. Given the mixed reviews of his last two books, it seems unlikely the "what-have-you-done-for-me-lately" trad publishers will be thinking of him as a *current* bestseller worthy of such a deal.

From the author side, the economics of trad-pub and self-pub are so different as to be almost complementary so which way to go is a matter of personal situation at the moment of choosing.

Neither approach is going away and the wisest authors will keep an open mind and choose the one best suited to each project on a case by case basis, doing what is best for *them*.

[GlenBarrington]

Originally Posted by plib

Expecting loyalty from, or giving loyalty to, a corporation is naive, but in this case the corporations may suffer more than the individuals. Biter bit.

As a committed capitalist, I agree completely. Every second of every day brings on a new reality that needs to be evaluated. Doing what's right for you and the people you care about is never completely wrong, and showing loyalty to those who have offered support is never completely foolish. You have to balance the two to your satisfaction.

I suspect Mr. Goodkind's relationship with his publisher has already deteriorated to the point where he no longer feels that the company itself is worthy of loyalty on his part. Sometimes being loyal can make you feel like a chump.

[murraypaul]

Originally Posted by charlesatan

I also want to clarify that he's not getting 70% off the retail price. If all the customers were from the US, yes (minus small delivery charge, which I'm sure is negligible in this case).

Not just the US, it is at least the US, Canada, UK, Ireland, Germany, France, Italy, Spain, Australia and New Zealand.
For an English-language book, that probably covers 95% of sales.

[DiapDealer]

Originally Posted by ATimson

Well, Law of Nines appears to have tanked. (Amazon has non-remaindered hardcovers available for $3.50 each.)

I think Law of Nines tanked because it was hyped as being something in a "completely new direction" from Goodkind; when in fact ... it was simply a Sword of Truth "mashup" with a contemporary setting starring Richard's and Kahlan's characters with different names. New non-SFF readers just didn't seem to be interested at all, and the rampant self-plagiarism falsely billed as "and now for something completely different" split his existing fan base right down the middle: half loved it because it was Wizards First Rule all modern "thriller-ized," and the other half felt betrayed by what seemed like a shady plot/character/philosphy recycling project.