Revenue Streams in Publishing-It’s More than Selling Books

No doubt you have read about the countless authors who have published books and yet have failed to make their efforts a profitable venture. Friends and family may also caution or discourage the budding new author with statements such as, “you’ll never make any money.”

For many, that may be true. It’s not uncommon for authors, filmmakers, or any artist to think that whatever they will create will sell. Even authors with some form of notoriety, relying on name recognition, have been surprised by dismal sales numbers. Other new authors, unaware of the realities of the publishing industry, may think listing their new book on a website or a platform such as Amazon is enough. Sadly, those same authors haven’t taken into consideration their marketing, strategy, target audience, or distribution beforehand either.

Authors may also be misinformed that they only need to write the books and then, the publisher will do all of the work to sell their books. Authors, however, have a role and responsibility in the books’ marketing, promotion, and sales, as well. Authors, as collaborators, in forging multiple revenue plans with the guidance, expertise and networks of the publisher, are always better poised for success .

There are certainly authors who desire to write a book for legacy reasons, to check off an item on their bucket list, or to simple say they did it…and that’s okay if that is their only expectation. There will also be authors who believe that writing a book will produce high ticket clientele or paid speaking appearances- without realizing the numerous strategic components that interface with their book towards those goals. Yet, if an author wants to establish a career in writing, make money, raise his or her visibility, achieve influencer status, increase business, create a following, or make an impact with a cause, then commercial viability of the book must be carefully considered and planned for, at the initial stages of the project’s management.

Will a book be successful based solely on sales generated on Amazon? It’s possible with strategic marketing, publicity, an established author’s platform and substantial following. However, singular book sales are only one outlet and relying on that alone can be shortsighted.

Reliance on one distribution outlet is ill-advised for many reasons. It’s important to have multiple distribution sources with your targeted audience. In addition, bulk, volume, and catalog sales will put your book in the black quickly.

Sponsorships, patronage, and alliances will also ramp up your sales, provide broader marketing exposure, and added financial success as an author. Speaking appearances, performances, and sponsored/hosted book tours are other related by-products of publishing.

Licensing the rights to and/or creating ancillary workbooks, webinars, educational guides, accompanying journals, merchandise, and short content subscriptions are further income streams to potentially pursue. Many authors leverage their platforms in teaching, consulting, increased business, related author service businesses, and influencer income. Then there are, of course, the coveted film, television and streaming rights that may be sold.

Hence, the best plan for a successfully published book doesn’t involve just one outlet for a book’s sales. Rather, it is the strategic and expertly designed plan involving multiple revenue streams that ensures a viable and sustainable author’s career.