THE NEW MATH
I WILL be the first to tell you that math is just not my favourite subject. Given a choice between doing alphabet or doing sums, I'm going to go for the alphabet every time. Even when the only choice is math. I suspect that this may be true of all who choose to write over a career in engineering. But, we still have to do Math to say that our education was complete.
So now let's talk Math with some alphabets:
Did you know that a .99 cent digital book in the United States is $2.99 when downloaded in Hong Kong? I bet you didn't. Want to know something more interesting? An author who sells their book for anything under $2.99 with Amazon is entitled to only only 35 percent of the royalties. So now here is the Math.
Author list price: .99 cents
Amazon retails: $2.99 (outside of the USA)
Author receives: $0.35 cents
Okay class, now can you tell me what happened to the $2? Anyone?
Here's another Math formula for you:
Grandma goes digital and gifts a book to Penny Pickles. Penny does not like Grandma's choice of book because it looks like it might match that Christmas sweater from 2009. She ignores the invitation to download. Grandma happens to be tech savvy and notices, whoa nelly, that Penny has not picked up her book. She informs Amazon. Amazon replies: "No problem. We will re-send the notice." Penny ignores it. Grandma tells Amazon to re-send again. Penny continues to ignore it. In the meantime, Grandma's credit card bill comes in the mail. It shows a purchase for $9.99 on Amazon. In fact that is the only purchase Grandma has made on Amazon because the ebook was written by Grandpa for Penny.
Over dinner, Grandma asks Grandpa, "How are book sales?"
Grandpa replies: "Terrible. Haven't sold one."
Here's the question, class: where did the $9.99 go?
Final one for the day. Pandora sees a book she would like to download. It is over the $9.99 mark — in fact it is $10.89. Must be good, she thinks. She clicks. She is brought to an entirely new digital page that tells her: "This is book is $18.95 in your country." Pandora lives in Canada and the site she is navigating is in the neighbouring region known as the United States of America. Pandora's finger goes into shock and freezes in the air because just earlier in the day, she traded one hundred US dollars into Canadian money and landed up with $93. Please write in less than 500 words how the distributing company came up with an $8 increase on the digital title for Pandora.
Next week in New Math, we will discuss how to make a living as an author while selling your book for zero dollars and zero cents. ^_^