Best stores currently for indie authors

Amazon continues to be the main way indie authors earn money. Research suggests that around 87% of indie authors say it's their top source of income.

Kindle Unlimited

Kindle Unlimited is a big reason for these results. Many authors in the higher income brackets find success there. Authors making $5,000 to over $20,000 often get 75% or more of their income from Kindle Unlimited. They earn royalties based on the number of pages read. For example, one mystery writer earns $15,000 a year. She gets $12,000 of that from Kindle Unlimited alone. Readers subscribe to Kindle Unlimited for a flat fee. They can then read books in the program for free. Authors get paid a small amount per page read. Some authors find it very profitable. Yet, the platform isn't for everyone.

However, around 28% of authors making under $250 report no income from Kindle Unlimited. These authors may not attract enough readers on the service. They might write in a niche that is not popular there. Some genres thrive on Kindle Unlimited. Others may do better elsewhere.

An ongoing stable income

To make a stable income, diversifying is vital for authors as it is too risky to rely on using just one platform alone...

• Apple Books is the second-highest income source for 13% of authors. It helps authors reach a new group of readers.
• Kobo and Barnes & Noble offer other options too.

These platforms help authors expand their reach. An author can sell sci-fi books on Kobo to target a different audience.

Does the niche determine the format?

Print books are also worth exploring. Print versions help authors reach readers who like physical copies. For example, some readers prefer cookbooks in print. Others would rather hold a physical book than a device - a simple solution that doesn't require batteries :-).

These strategies help indie authors create a more stable income. Authors can avoid relying too much on one source of revenue. By being on multiple platforms and differing formats, authors can protect themselves and their income. If one platform changes its policies, they still have other income streams. This approach gives them more control over their careers.

Summary

Amazon remains the primary income source for indie authors, with Kindle Unlimited being a significant contributor. Many high-income authors earn 75% or more from KU, which pays royalties per page read. However, diversification is crucial as relying solely on one platform can be risky.