Are You Making Less Money with Your Writing at the Moment? You’re Not Alone
Not long ago, I got my twice-yearly royalty check from my indie publisher. I had looked forward to being wowed by the amount since my book had become a TV movie on Lifetime.
“Can’t wait to see how the sales increase,” said everyone in the periphery who gave my own hopes a voice.
Neither could I.
I had tingly fingers as I prepared to glimpse what would surely be my best royalty check ever. And blinked hard, rubbing my eyes in disbelief.
No way.
I could make one single car payment with money for a coffee for the half year of sales and countless hours of promotion and related appointments. It was the teeniest royalty check I’d earned since publication.
My little brain couldn’t handle it.
Lizbeth’s cats, Oliver, left and Lou
Was it because the publisher ran out of paperbacks just before the premiere? Or perhaps that the book title was different than that of the movie? How would I explain to my cats that I wouldn’t be buying them sparkly collars I’d promised when we made it big, and we’d need to cut back on their fancy-pants treats?
The sting of disappointment was palpable.
But I was completely on the wrong path.
Because while I’d busied myself with book-to-movie promo and navel-gazed over others of life’s other details, the author landscape was shifting again.
I’d read that people were reading increasingly less, often buying their books from subscription-based models were popular among readers which offer nearly unlimited choices for books for a flat fee, cutting the author’s share of royalties to a nub. So even if book sales remained steady or increased in some cases, it’s entirely possible that the royalties decreased.
Then I listened to the Six Figure Author Show, a retired-by-six-months podcast that reconvened in October of 2022 to address the growing crisis and titled it Why Book Sales are Down, and What to Do About It.
The reasons, the hosts opined, were varied. From the war in Ukraine, inflation, a looming recession, and even the current strength of the US dollar can impact our royalties.
Yet it’s not all bad.
Writers of fiction who tell the kinds of stories that transport readers to their happy place during these uncertain times are seeing an uptick in sales. And authors who’ve diversified how their books are bringing them income are simply refocusing.
But what about the rest of us? What options do we have that add revenue streams and indirectly support our writing?
In November of 2022, I attended the 20Books2022 Las Vegas conference. While some of us commiserated on the side about the good old days when Facebook and Amazon ads and some good ole fashioned elbow grease translated into book sales, the conference workshops were a reminder to authors that there are still plenty of ways to get scrappy and add income streams.
Workshops on crowdfunding. On launching a successful Patreon page, a membership platform that helps creators get paid. On selling short stories. On “going wide,” distributing our books on multiple platforms rather than on just one publishing source. And mining all of our intellectual property rights and considering whether translations, large print, and audiobook versions are worth exploring.
I left the conference knowing that in order to pay bills while continuing to write new books, I would pick a few things to help. I’ve launched my own Patreon page, meeting with subscribers once a month and offering workshops and Q&A within the membership. I’ve continued freelance writing for other companies on Upwork. I made a profile on Fiverr to be an e-greeting card for those whose loved ones watch Lifetime TV and would enjoy a message from one of the movie subjects. Is it a good idea? I don’t know. But it’s worth a try. And I’ve monetized my speaking events.
Above all, maybe it’s time we celebrate our efforts rather than focusing on outcomes and enjoy all that we’re learning and becoming along the way.
As for me, my cats aren’t bedazzled in rhinestones (yet), but they’re hardly starving either.
None of us can do everything and continue to create new works. But individually, we can explore our options. And collectively, we can support one another through challenging times.
People need stories. That will never change. So, if you’re having a rough patch selling yours, you are not alone. Stay in community with other writers. It’ll keep you from experiencing isolation and burnout. Consider your options for other income streams. And don’t forget to keep writing. Maybe that’s all you’ll decide to do as you ride this wave. Your new stories can help promote your old ones, and you never know what wonderful possibilities lie just around the corner.
Our books can make us money many years past our death if we plan carefully.
What new income streams might you consider?
Six Figure Author Podcasthttps://6figureauthors.com/podcast/
—
Lizbeth Meredith is an author based in Chattanooga, Tennessee. Her memoir, Pieces of Me: Rescuing My Kidnapped Daughters is now a television movie starring Sarah Drew. Connect with her at lameredith.com and on Persistence U Podcast with Lizbeth.
Follow Meredith on Twitter https://twitter.com/LizbethMeredith
Find out more about her on her website https://lameredith.com/
PIECES OF ME: RESCUING MY KIDNAPPED DAUGHTERS, Lizbeth Meredith
In 1994, Lizbeth Meredith said good-bye to her four- and six year-old daughters for a visit with their non-custodial father only to learn days later that they had been kidnapped and taken to their father’s home country of Greece.
Twenty-nine and just on the verge of making her dreams of financial independence for her and her daughters come true, Lizbeth now faced a $100,000 problem on a $10 an hour budget. For the next two years fueled by memories of her own childhood kidnapping Lizbeth traded in her small life for a life more public, traveling to the White House and Greece, and becoming a local media sensation in order to garner interest in her efforts. The generous community of Anchorage becomes Lizbeth’s makeshift family one that is replicated by a growing number of Greeks and expats overseas who help Lizbeth navigate the turbulent path leading back to her daughters.
―Kirkus Reviews
BUY HERE
Category: How To and Tips
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
Thanks so much for this thoughtful and encouraging piece, Lizbeth. I was attracted to read it by the title not clocking until the end it was by you. Let’s hope your sales uptick will be on a slow burner and you will see more royalties in your next statement. Yours is certainly a tale worth hearing.
You should certainly consider recording an audiobook!!
wow, very very interesting article. Because every decision we are making- your to attend the Las Vegas conference, mine currently to record an audio book, costs $ —-with less and less coming in! Thanks for writing- I think!