There’s a marvelous weirdness about Kindle Unlimited that I have not yet seen anyone else comment on. For the last two weeks, since I posted The Cunning Blood on KDP Select, I’ve kept the reports dashboard open in a window, and every five minutes or so, I refresh it. Almost invariably, the KENP numbers go up by a hundred or two, sometimes more. It’s a very weird feeling: Somewhere people are reading my book Right Freaking Now. It’s like looking over God’s shoulder down at the universe of people sitting in chairs and on buses and trains and airplanes, and knowing for sure that a certain nontrivial number of them are following Peter Novilio’s adventures at this very moment. I have no way of knowing precisely how many, but I can guess (given that a person doesn’t read a hundred pages a minute) that it’s more than one or two.
I’ve had a number of surprises since my first novel went up on July 31, but KU was the biggest. I’m getting a lot of page turns; on August 11 alone I got 12,448. Given that the book is 643 KENP pages long, that’s 20 full copies of the book read in one day. Of course, it may be 30 or 40 or more partial reads. I have no way to tell. But at the estimated rate of $0.0057 per page turn, KU earned me $71 that one day.
The numbers since the beginning two weeks ago were surprising, and I’ll gladly share them with you: I’ve sold 662 copies of the ebook, of which 21 (3%) were sold to countries where the 35% royalty is in force. The rest (97%) were sold at the 70% royalty rate. I’m still not entirely sure how KDP handles royalty currency conversion, but I’m assuming the cover price is roughly equivalent to $2.99 USD in all currencies. That makes my total take on sold copies about $1,304.
The KU payout is a little simpler to calculate, although we’re still not completely sure what the July and August per-page rates will be. I’m going with the estimate of $0.0057. Since publication, The Cunning Blood has recorded 127,749 page turns. Multiplied by .0057, that gives us $728.17.
Adding that to the books-sold royalty of $1304, I get $2,032.17 as royalties earned so far, in the book’s first two weeks.
That’s pretty damned surprising right there. I was expecting about half that. But what really surprised me was that over a third of that revenue–36%–came from KU page turns. In truth, I had no way to guess how many borrows I’d get nor how many borrows would be completely read. My gut told me 10-15%. I was very glad to be wrong.
Now, there’s a number I would love to be able to calculate, but which I can’t calculate from the information Amazon gives me. Amazon does not tell authors how many KU borrows a book has gotten. If I knew how many page turns I’ve had across how many borrows, I could calculate how many pages were read per borrow. This factor could be interpreted as the degree to which a book grabs the readers’ attention and keeps them turning the pages. I might as well call it “turniness.” If I could calculate how turny a given book is, over time I could probably make them turnier. In the new Kindle Unlimited universe, the turnier a book is, the more money it will make. Smart authors will thus strive to make their stories as turny as possible.
It’s not quite that simple, of course. There’s no incremental cost to making a KU borrow, and a certain number of people who borrow a book purely on spec will read a few pages, realize it’s not their thing, and return it, irrespective of the book’s quality or its turniness. Then again, that factor is probably constant across books and cancels out. We don’t know yet and won’t know until Amazon gives us more data to play with.
What this means is that literary and experimental writing will not pay as well as engrossing genre fiction. What follows from that is that that authors may pay more attention to the factors in their writing that contribute to turniness (suspense, rapid pace, constant action, mysteries revealed over time, etc.) and strive to be better at them. Over time, genre fiction will follow the money and become better and better at its own stated mission of keeping readers entertained.
My conclusion: Kindle Unlimited is the best thing that’s ever happened to genre fiction.
Genre authors, if you haven’t tried KU yet, you’re missing out. The Turniness Revolution is upon us. Let us unroll our mats, boil those pots, tell our tales, and cash those checks.