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Amazon have just announced that they’re offering their readers a new service called Kindle Unlimited. Today I’ll let you know what this means for you as an author, give you tips on how you can use this, and give opinions on whether or not it’s worth enrolling it. Read on for all the info.
What Is Kindle Unlimited And How Does It Affect Self Published Authors?
Kindle Unlimited is a new service which allows readers to read and listen to over 600,000 books and audio books. The reader pays $9.99 a month, and they get to read as many of those titles as they want for as long as they’re a member.
So, what does this mean for writers and authors? Well, as with most of their other services for content producers, Amazon has made it super easy to be a part of this process. So if you want your books to to readable to these Unlimited members they get on board, it’s pretty easy to do. I’ll tell you how to get your book on Kindle Unlimited later.
How Much Will You Be Paid For Having Your Books On Unlimited?
Before we go any further, you should be aware of how you’ll get paid if you enroll your book in this program. If you’ve been part of KDP Select before, you’ll know all about the KDP Select Global Fund. This is a pot of money that’s shared between authors depending on how many times their books are borrowed from the Kindle Owners’ Lending Library, and how many other books have been borrowed in the same month. More details about that and KDP Select in general can be seen here.
Before it was only when your book got borrowed that you’ll get a cut of the Global Fund. Now, if a Kindle Unlimited subscriber reads more than 10% of your book which is in the Select program, you’ll also get a cut of the money.
Is this a good or a bad thing? More details on what I think below. But first:
How Do I Get My Book On Kindle Unlimited?
If all of this sounds good to you, you may want to get your books on Kindle Unlimited. The good news is, it’s very easy to do. Simply enroll your Kindle books onto the KDP Select program and your books will be automatically included.
If you’re not familiar with KDP Select, there are some rules that go along with it. This includes keeping your books exclusive to Amazon for three month. It does however offer benefits such as being able to run promotions on your books and getting additional exposure. We’ll look at if this is worth it later in the ‘Should You Still Keep Your Books Enrolled In KDP Select?’ section.
What Impact Will This All Have On The KDP Select Global Fund?
That will depend on how many readers decide to sign up to this service. While it’s too early to say, I predict that this will lower the amount of money each author gets from the KDP Select Global Fund. Chances are, people who subscribe to Kindle Unlimited will be reading more books than those who use the Kindle Lenders Library. That means that a lot more books will be getting read, with not proportionately as many new people paying for Amazon services.
It’s yet to be seen how much less each book read / lend will get from the KDP fund (if this pans out at all), but time will tell.
Should You Still Keep Your Books Enrolled In KDP Select?
So chances are a lot of writers will be wondering if this is a reason to take their books off of KDP Select. From what I can see, no it wont. The thing it, it’s still an additional income stream.
A large portion of people who sign up to Unlimited will most likely stop buying individual books, unless they’re from an author they really like of course. The readers who sign up to these kind of services are usually value driven and like a bargain. So unless there’s a title they really want to read, chances are they’ll be content only reading form the six hundred thousands plus books they now have access to.
What this means is, chances are you won’t be losing out on money from these Unlimited members anyway. Unless you’ve already connected with these readers in some way, you probably won’t come on their raider while they’re browsing their Unlimited collection.
With that in mind, you will probably lose out on money if your books aren’t in Kindle Unlimited. Instead, the money will be going to the authors who are signed up.
Of course, there’s a lot more to it then that. A lot of authors won’t want to keep their books exclusive to Amazon for three months at a time in the Select program, so that’s really the deciding factor.
In conclusion, if you’re already part of KDP Select, this is no reason to leave. If you also want your books on other stores such as Barnes & Noble and iTunes, this probably won’t be for you.
What Countries Is Kindle Unlimited Available In?
Kindle Unlimited is currently only available to readers in the USA. That said, if you’re an author from another country, you can still have your books enrolled in this service.
So will readers of other countries be able to sign up to Unlimited in future? Well while there’s no official word from Amazon at the time of writing this, chances are it will be. Amazon are known for expanding into other countries, so it wouldn’t be a surprise if they made this available elsewhere in future. Watch this space.
See More Details On Kindle Unlimited
You can see Amazon’s official word on the new KU here.
So what do you think? Does Unlimited inspire you more to join KDP Select? Or does it turn you away from the idea? How do you think this will impact your book sales? Let us know in the comments.