Amazon dominates the self-publishing market, with 1.4 million self-published print titles last year
The publishing industry is one that is rapidly evolving. Spurred by the integration of e-books, audiobooks, and various platforms for self-publication, the sector has transformed dramatically in the last ten years. Amidst the economic recession of 2008, cuts in consumer spending and reduced public funding characterised the literary landscape and pushed the whole industry to breaking point. In the last two years, however, there has been a huge surge in demand as reading has regained popularity and there is now more choice for consumers than ever before – largely thanks to the exponential growth of the self-publishing sector. This was evidenced by the Publishers Association (PA), which observed record sales of self-published books, hitting £6.7 billion in 2021. Now a cultural phenomenon, Amazon’s services dominate this side of the literary market with 1.4 million self-published print titles being available on their site last year. Rutger Bruining, CEO/founder of the leading biography-writing company, StoryTerrace, saw a 58% rise in the number of projects entering the service in the last year and is available to discuss how self-publishing has become a significant power engine that helps keep the industry as whole buoyant.
Self-publication has now become a serious option for even established authors, offering potential returns that were previously unimaginable. It is now commonplace that authors wishing to take the conventional route using a publishing house won’t see as high return percentages compared with publishing independently. Coinciding with the emergence of smart devices, e-books, and online subscription models, this has transformed both the publishing landscape as well as the reading behaviour of readers. According to recent statistics, the UK saw a 68% growth in self-published e-books over the last five years. Commenting on the benefits of self-publishing and why it has become so popular, Bruining says: “Self-publishing puts you in the driver’s seat. You won’t have to deal with a complex contract, and you’ll have the final say when it comes to things like your book cover and title. Plus, you get to keep the royalties from every sale when you self-publish. Self-published authors take home 40–60% royalties per book. This is four to six times higher than what they would make with traditional publishing, where they get only 10–12% per book.”
This comes as memoirs become the top-selling non-fiction genre on Amazon, which has a monopoly on global book sales. Statistics suggest that this demand for new authors is projected to grow with national ghostwriting agencies reporting up to 400% increases in inquiries over the pandemic.
Rutger Bruining, Founder and CEO of StoryTerrace, comments on how the stories that leave the largest impact can’t always be found in store:
“Just a decade ago self-published books were almost unheard of, but in recent years self-publishing has been on the rise and it is something we see often at our service. At StoryTerrace, our mission is to help ordinary people tell their stories. In many cases our clients want to keep those stories private, sharing them only with friends and family. When someone does have a story they want to share with the wider world, though, our self-publishing service helps them do just that.
“There are many reasons why people decide to publish. First and foremost, publishing makes your story accessible: Complete strangers can pick up your book and be inspired, educated or entertained by your life experience. A desire to share your outlook on life is a good enough reason alone to want to publish.
“At StoryTerrace we can help through the entire process, if the client wishes of course. As one of the largest memoir-writing organisations in the world, we’ve had a great deal of experience making beautiful books, and getting them out there into the hands of readers.”
