Self-publishing may be ripe for an influx of big-name authors according to the latest report I’ve seen.
The New York Times ran a front-page article about how author David Mamet is getting ready to self-publish his next book. He’s among the first big-time authors to make the leap from a traditional publishing house to self-publishing.
For Mamet, that means forgoing the usually large advance that established authors are given for their titles. That larger advance makes up for smaller royalties in the traditional model; royalties are only paid at pennies on the dollar after the advance is earned back in sales.
By contrast, self-published authors don’t get an advance, but they do typically earn about 70 percent of all sales. So they’re getting more money on the back end, rather than upfront.
Check out my self-publishing guide if you’re interested in going this route.
And be on the lookout for my next book, Clark Howard’s Living Large for the Long Haul, coming out August 2013.