- I want to help authors get their ebooks into libraries.
- I want to help libraries acquire indie ebooks.
- To do this, I started a business called EAF – EbooksAreForever.com.
- I want to sell your ebooks to libraries.
What’s going on with libraries and ebooks?
There are 120,000 libraries in the US. These libraries, and their patrons, are eager for popular ebooks. Many libraries have a budget they must spend, or they risk having that budget cut.
Currently, libraries have no allies in the ebook market. They aren’t happy with the restrictions and costs of the current leader in supplying libraries with ebook content, Overdrive. Through Overdrive, many publishers charge high prices for ebooks, some higher than $80 a title. They also require yearly license renewals, and may force libraries to re-buy licenses after a certain arbitrary number of borrows.
Just one example of the perils of this approach for America’s libraries is that a library must pay for extensions of time-limited licenses of old ebooks and purchases of licenses for new ones. All kinds of sustainability and predictability issues aris
. . . .
Some indies are on Overdrive and 3M. I’ve been on Overdrive for a few years. My last quarterly check was about $60, and I have a large catalog. This is small money, not just for me, but for any writer. And I was fortunate enough to have been invited into Overdrive. Many authors are not.
The vast majority of libraries don’t have access to many of the ebooks that readers are seeking. The latest AuthorEarnings.com report showed that 33% of all ebooks sold on Amazon are from indie authors. Libraries are missing out on 1/3 of available titles, because they have no way easy way to acquire them.
Just as important, these are quality titles. People are reading, enjoying, and recommending them. Indie authors are hooking readers, and selling as well as the major publishing houses, but there isn’t a way for libraries to offer them to their patrons.
. . . .
For the past year, my business partner, August Wainwright, and I have been talking to acquisitions librarians across the country, and they crave an alternative to the status quo. These libraries are looking to buy thousands of ebooks at once in order to best serve their patrons and community.
Their main wish is to be treated fairly – which means they want to own the ebooks they purchase, acquire good content at a reasonable price, and have access to as many copies as they need.
Our solution? Give libraries what they’re asking for, and in a way that gives libraries the sustainable purchasing model they deserve. We’re striving to offer a large, curated collection of popular ebooks that libraries can easily purchase with just one click.
. . . .
EbooksAreForever distributes to libraries at $7.99 for full length novels, and $3.99-$4.99 for shorter works. We’re offering 70% royalties to the author, and the library will have the ability to purchase more copies as needed.
The way this works is that if a library wants to allow 3 patrons to borrow your ebook at any given time, they’d need to have purchased 3 “copies”. Most libraries adhere to a strict hold ratio (usually around 3:1) in order to present patrons with the best user experience possible. Our hope is that by making ebooks both affordable and sustainable, then libraries in response will automatically purchase more copies.
So, if you have a catalog of 10 ebooks that we then distribute to 1000 libraries, you’ve just earned $56,000 in royalties from making your books available to the library marketplace if they each buy one copy. If your titles are popular, they’ll buy more copies and you’ll earn more.
Link to the rest at Joe Konrath and thanks to Sabrina for the tip.
Here’s a link to Joe Konrath’s books
UPDATE: PG put this post together and scheduled it to appear a couple of days ago. He couldn’t figure out why so many people kept sending him tips about Joe’s plan. Then he checked and discovered that WordPress had failed to publish this at the proper time.