From Indies Unlimited:
Netflix. Lootcrate. Amazon Prime. Everyone has at least heard of most of these, and you probably subscribe to one or two of them. From TV to men’s razors, the subscription model is catching on with consumers.
According to Deloitte, 69% of households now subscribe to one or more video streaming subscription services. A survey conducted by Global Banking and Finance Review reported that 70% of business leaders say subscription business models will be key to their prospects in the years ahead.
How can publishing get in on this thriving new trend? Let me count the ways.
Publishers have a big hurdle to jumping into a subscription model: no reader buys every book they publish. But authors don’t have that problem. They can cultivate readers who will read everything they put out, and it is these authors who can benefit greatly from implementing a subscription model of their own.
How do we know this? Because they are already doing it.
Services like Patreon allow authors and artists to cultivate patrons either on a monthly basis, to per creation, while services such as Shopify and Payhip let you sell digital downloads and memberships. Another site, Gumroad, gets you set up to sell everything from ebooks to physical products and create a membership site. Want to keep things simple? Add a subscription payment button to your website with PayPal.
Paypal is what author Dean Wesley Smith uses to process subscriptions to his very own magazine, Smith’s Monthly. Each month, Smith publishes a print and electronic magazine containing several short stories a full novel, and serialized fiction (and he sells the individual issues on Amazon and other sites as well).
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Indie author and small press publisher John G. Hartness uses Gumroad and Patreon as a subscription service for $5 monthly short stories. Hartness also sells ebooks and audio downloads via Gumroad, and these are often cheaper than Amazon and the other ebook sites because Gumroad takes a smaller cut, so it’s a win-win for both the author and his readers.
You’ll need to have at least some of your books wide on Amazon, and you likely won’t get the traffic that the world’s largest search engine for books does, but over time it can be a nice chunk of change. It works for print books as well. For $25 a month, my patrons on Patreon get signed print copies of my books, with free U.S. shipping, as well as free stories and snippets. And it’s another fun way to interact with your readers.
Link to the rest at Indies Unlimited
PG is old enough to remember various book-of-the-month clubs, so subscriptions are definitely not a new thing in the book world.
That said, indie authors come in all shapes, sizes and personalities. PG knows some that are organizing book projects in which several authors contribute a short story to a collected stories ebook and it is widely-believed that a regular email newsletter from an author to readers who opt-in to receive it is a good way of keeping readers engaged between book releases.
For other authors, writing books is what gets them up and in front of the computer each morning. As much as they appreciate those who buy their books, writing a chatty newsletter instead of the latest chapter in their noir novel is a burden.
Others have day jobs, some in offices, others on assembly lines and others who are shuffling children hither and yon to school, sports, music lessons, doctors, and dentists. These authors may need to spend their writing time focused hard on their first or next book.
A subscription model is fine if you have the inclination, time and energy to pursue it, but, in PG’s HO, getting good books out the door for readers to buy is Job #1.