by Steve Henn - Planet Money
Five years ago, printing your own book was stigmatized and was seen as a mark of failure.
"But now," says Dana Beth Weinberg, a sociologist at Queens College who is studying the industry, "the self-published authors walk into the room, and they say, oh, well, 'I made a quarter million dollars last year, or $100,000, or made $10,000.' And it is still more than what some of these authors are making with their very prestigious contracts."
Weinberg says there is still a strong financial case to be made for publishing books the old-fashioned way, but there are now many well-known independent authors who have made a fortune self-publishing online.
One of those authors, Hugh Howey, recently published a report arguing that self-published writers earn more money overall from e-books than authors who have been signed by the big five publishing houses. The report, which Howey created with an anonymous data researcher who goes by the name "Data Guy," uses Amazon's sales rankings and crowdsourced sales data to estimate authors' total earnings on e-books.
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