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6 August 2015
...and what more I've learnt.
The first thing I've found out since my last post is what page count Amazon are using for purposes of calculating my pages read.
To find this value out you log into Kind Direct Publishing and select the Bookshelf.
Click on the Ellipses (...) button and select Promote and Advertise.
You'll find the page count at the bottom left hand corner of the screen.
For George and the Dragon this reads:
Kindle Edition Normalized Page Count (KENPC) v1.0: 563
So now I know that my page count is 563 and that helps a lot.
According to Morris Rosenthal's back of the envelope calculation:
"An estimate for the Kindle Select royalty system that starts today is $0.0058, or 0.58 cents per page read. This is based on Amazon’s announcement that the global pool for July will be at least $11 million, and that last month, the number of pages read was almost 1.9 billion."
I believe the pot has been increased since this calculation but it does give us a good value to work with and that's 1/2 cent/page,
So here's my latest rather erratic chart showing the number of pages read/day for George and the Dragon.
Armed with the above I can start to make some sense of it.
Firstly what are they paying me per book?
563 x 0.5c = $2.815
So each book completely read pays me $2.81 that's a reasonable amount higher than the $2.04 I would get paid from a Kindle eBook sale on a $2.99 eBook.
Next what do my stats tell me?
Total pages read so far: 1255
Number of books equivilent: 2.23
Expected royalty payment: $6.28
What it still doesn't tell me is the number of people who have loaned a copy of the book or the percentage of the book that is being read per person. I'm sure there are other stats that I would like to have at my disposal that I haven't thought of yet.
I also now understand why Amazon HAD to make this change. Too many people were releasing too many short stories, serialising novels etc. If I serialised George and the Dragon into say 5 parts and these all got rented via KDP Selected I'd get 5 payments whether the book was read or not. This would have been of financial benefit to the author but must have been breaking Amazon's bank.
So there you have it; everything I have discovered about the new payment system in a nutshell.
I still think I'm going to switch back to not being Amazon exclusive.
Phil
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