One of my Goodreads friends recently asked if he could find my works on Amazon’s recently launched Kindle Unlimited scheme. Here is what I told him:
My books aren’t enrolled in Kindle Select and won’t be. Authors who participate are mostly losing money compared to before. Authors who aren’t in it are also seeing sales drop. Everyone is losing money but Amazon. There are now 700,000 books on Kindle Unlimited. That may sound like a lot, but unless you only read indies, most books you want to read are not there. Traditional publishers can put books into Kindle Unlimited and still sell those books in other venues like Nook Books and Kobo. However, indies have to also be enrolled in Kindle Select to be on Kindle Unlimited, which means they have to sell those ebooks exclusively on Kindle, and many authors (and readers) feel that that lack of competition is not a good thing.
Here are some more reasons why Kindle Unlimited is bad for authors:
Readers can use Indie Select as a private (but expensive) library. They can borrow your book, but if they don’t bother to actually read it, you get NOTHING. If they do read more than 10%, you get something, but it’s far less than if they bought it.