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Royalty

Kindle Bounty

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The ebook battle has begun in earnest. Amazon has announced it will pay authors and publishers 70 per cent royalty on books sold on the Kindle Digital Text Platform. This move is likely in anticipation of the launch of the muchhyped and potential rival Apple tablet. Amazon says Kindle has been a hugely successful product, even claiming that Christmas sales for Kindle books outpaced that of physical books on the website. Russ Grandinetti, vice president of Kindle Content, said: “Today, authors often receive royalties in the range of 7 to 15 per cent of the list price that publishers set for their physical books, or 25 per cent of the net that publishers receive from retailers for their digital books.” The new offer is subject to certain conditions such as list price being between $2.99 and $9.99, and 20 per cent lower than the lowest list price of the physical copy.