I have
a year’s worth of sales data to assess the results of my self-publishing
efforts. I thought it would be a fun exercise to compare my actual
self-publishing revenue results with a hypothetical legacy publishing contract.
That is, assume that I could have gotten an agent and publisher.
Dead
Dwarves Don’t Dance Actual Self-Publishing Results
I
self-published Dead Dwarves Don’t Dance in November 2010.
I have
spent $1,550 on editing, cover art, and advertising.
I’ve
grossed about $5,347, for net royalties of $3,797.
Dead
Dwarves Don’t Dance Hypothetical Legacy Publishing Results
Let’s
say that I was incredibly lucky and got an agent and publisher back in November
2010. I don’t think that’s too likely, because I was an unknown, untested
author with a cyberpunk novel, but let’s just say it happened.
Let’s
also say I got an average $5,000 advance.
The
publisher absorbs all the expenses, so my only expenses are my agent’s cut of
$750.
That leaves
me with $4,250.
Let's compare!
So, if
my hypothetical scenario actually happened, I’d be doing a bit better
monetarily if I had gone with legacy publishing.
Of
course, it’s possible my book wouldn’t even be for sale yet, since it can take
6 – 18 months for a publisher to get a novel on the shelves.
Knowing
what I do now, would I go back in time and instead pursue an average publishing deal?
No.
My
hypothetical scenario makes a major assumption that I do not think is remotely
likely.
The
cyberpunk genre is not a popular one, and I don’t think most publishers would
even give it a look. I expect that, had I struggled in the query letter
carousel, I would not have found a publisher yet. Look at Joe Konrath. He had
500 rejections over many years before he found a publisher, and he was writing
in a popular genre. I believe that I would still be searching for a publishing
deal, and collecting a growing pile of rejection postcards.
In the
far more likely hypothetical scenario, my legacy publishing career would still
be spinning wheels with $0 in advances.
So, I’m
still happy I self-published. As I publish more books, I think I’ll be even
more happy.
Are
you happy self-publishing?