Last week Amazon did something drastic. They changed how authors are paid when Kindle books are borrowed. But let me give you a little more information before I get into the good stuff.
Are you familiar with the Kindle Owners’ Lending Library (KOLL)? No? Okay. KOLL is set up for Prime members who also happen to own a Kindle device. These individuals are able to download one free eBook per month as part of their Prime subscription. Authors are compensated from a fund that Amazon sets up at the start of each month that is divided up among all downloads. Let’s just say that for a given month the royalty per download is $2. If your books are collectively downloaded 100 times, then you’ve made yourself $200. Got it? Okay.
Second, are you familiar with Kindle Unlimited? No? Okay. It’s Amazon’s eBook subscription service that allows for subscribers to download…
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