Embarking on a self-publishing journey offers more than just the chance to leave a lasting legacy, honor your family, establish your expertise, and make your mark in the literary world. It can also be highly lucrative. Recent findings from a global survey of over 2000+ authors, independently conducted and peer-reviewed by esteemed entities such as the UK Copyright & Creative Centre, Thad McIlroy of The Future of Publishing, Steve Sieck of SKS Advisors, and commissioned by the Alliance of Independent Authors, have revealed some remarkable insights.
A Remarkable Increase in Earnings
In 2022, the average income of self-publishing authors who dedicate at least half of their time to writing and publishing activities exceeded a remarkable $80,000. This represents an astounding 53% increase from the previous year. In stark contrast, surveys focusing on traditionally published authors have consistently shown declining income over the years. For instance, a survey conducted by the Authors’ Lending and Collecting Society revealed a significant 38% decrease in median income for traditionally published authors since 2018.
Outperforming Traditional Publishing
What’s even more fascinating is that self-publishing authors, according to this independent survey, boasted a median income approximately 33% higher than their traditionally published counterparts. These findings highlight the shifting tides in the publishing industry, where self-publishing has emerged as a viable and lucrative alternative to traditional publishing avenues.
The Significance of Publishing Achievement
Regardless of the chosen publishing route, completing a book is always an impressive accomplishment. It represents dedication, creativity, and the culmination of your unique perspective. However, this survey’s results now demonstrate that self-publishing authors can also reap the rewards in terms of financial success.
The landscape of publishing is evolving rapidly, and self-publishing has become a formidable force in the industry. Not only does it provide a means to share your story with the world on your terms, but it also offers the potential for substantial financial gains. This recent independent survey solidifies the notion that self-publishing is not only a rewarding and empowering endeavor but also a highly profitable one.
So, if you’ve been contemplating self-publishing your book, now is the time to take the leap and unlock the remarkable possibilities that await you. Join the ranks of successful self-published authors who have found both creative fulfillment and financial success through this transformative publishing path.