The ridiculous price of e-books - I will not pay it!

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By Pcunix


I've become very fussy about my reading.

First, quite a number of years back, I made the decision to stop reading fiction. I enjoy fiction, but my reasoning was that there is so much science, history and biography that I have not read and will never have sufficient time to get to that I simply can't afford the time for any more fiction.

I know, that's draconian. I could have allowed myself one fiction book a month or even one a year. That's something a more reasonable person might have done. A little compromise: mostly non-fiction, a dollop of unreality for fun now and then. A little spice on the cake of life, right? That's what a reasonable person would do.

I'm not a reasonable person.

Books, books, books

My family was always what you'd call a "reading family". Two parents, three children and a few thousand books. Had you wandered through our home in the mid to late 1950's, you would have found books and magazines everywhere. They'd be on bookshelves, of course, but that's not what I mean. I mean that you would have found them lying open on tables in the living room, in bedrooms, and even in the bathrooms. Every person in the house usually had at least two books "in progress" at any given time and often more.

I don't want to give the impression of a bunch of snobby intellectuals. Sure, we read those books, but we also had comic books, not so high-brow magazines and silly books too. We all liked to read and, oh boy, did we read!

I can remember visiting people who did not suffer from this reading disease and wondering "Where are their books?" because the only books to be seen were whatever the children had brought home from school. Other than that, no books. You might have spotted a newspaper, but there were no large piles of magazines as there were at our house. How did these people survive?

Oh, television? We watched television - or at least we did after my father finally broke down in 1954 and bought one. We still found time for our reading, though.

Spread the disease

When I married and began my own household, of course I brought my books with me. Bookshelves were probably the first furniture we bought and I filled those up quickly and kept acquiring more books.

My wife was a bit unsettled by my cavalier treatment of our books. Hers was not a non-reading family, but books were something that got much more respect than I would give them. She didn't like me laying a book face down at the page I had stopped at - she expected me to use a book marker. The idea of folding down a corner of a page to mark a place was nearly sacrilege and writing in a book (which was something my mother and I did frequently) definitely was. She fretted when I'd accidentally tear a paper jacket, too.

I'm not sure how our children feel about the sanctity of printed material, but I do know we successfully passed on the reading disease. They have to spend money on bookshelves too.

Form is not function

I hated e-books at first.

Really. Didn't like 'em. didn't want 'em, disdained them thoroughly. Had you asked me about e-books back then, I would have said silly things like "I like the smell of a book!" and "Books are beautiful!".

That started to change when I bought an iPad.

For the first time, reading an e-book was actually easier than reading a real book. i didn't need a bookmark, the iPad knew where I left off. I could make the font bigger or smaller. I could search for something in the book even if the author never thought to put it in the index. I could even annotate as I read and never run out of room in the margins.

I started liking e-books.

And then something terrible happened. I started disliking real books.

What is that smell?

Books do have odors. It's not always a good odor, is it? I still have sentimental attachment to some of my old friends on our bookshelves, but they are becoming a bit embarrassing. Their pages are turning yellow, some of them are starting to fall apart and they smell musty.

There was a time when I liked that smell. It reminded me of libraries. It was a good smell then, but now it isn't. It's the smell of decay and I do not like it at all.

I'm beginning not to like my old friends. I definitely do not want any new friends of that kind.

I have no room for them anyway. My bookshelves are jammed and double jammed. Newer books lie sideways on top of older books lucky enough to have been given actual shelf space. There is no more room and my love for them has faded anyway. The weight, the lack of search, the inconvenience..I want e-books now, and nothing else will do.

Trouble in paradise

For a short while, I was happy with my new electronic friends. They gave me everything I wanted and demanded so little. A bit of storage space in my iPad, and I have plenty to spare. I could still read multiple books at once and, with some limitations, I can even lend Kindle e-books when I want to. All the convenience and more!

Our days of wine and roses were short-lived, however. I started to feel that my new friends were taking advantage of me.

Where do they get these prices from?

An e-book should cost far less than any physical book. There's no production cost, no shipping, no damage. There is almost no selling cost - no storefront, no shelves, no counting of inventory, no store clerks.

And yet, e-books are often priced very close to their hard cover versions. In some ridiculous cases, they are even priced higher!

This is unacceptable. Many popular books are expected to sell many millions of copies. Certainly the publisher and the author have costs to recoup, but do they have millions of dollars in expenses?

It seems very unlikely, because there are technical books that are certainly not expected to have that many readers and yet the publishers seem to get by with far less total income. These technical books are often priced 50% or more above the prices of the best-sellers, but their expected sales volume is far, far lower.

Sure, they have expenses

Oh, I get it: there is newspaper and sometimes even radio and TV advertising. There are editors to be paid, and fact checkers too. Publicists have to spread the word and set up the book tours. The really big authors may even need an entourage to travel with them. Somebody has to arrange the visits to the morning TV shows, the interviews with radio hosts - there are significant expenses with these best selling books.

I am also aware that one high flying best seller has to support quite a few turkeys that flapped their wings madly but didn't even reach the lower branches. Those dead birds have expenses to be paid, and the soaring eagles have to absorb some of that.

Still, I'm feeling cheated

I still feel it's too much. Somebody is being greedy when something like Steve Job's biography is priced at $14.99 in the Kindle version. That book apparently sold 379,000 copies in its first week. It has been 81 days in the top 100 at Amazon as I write this and has also been at the top of the New York Times Best Seller list. There is a big pile of money being made here.

None of it has come from me. I'd like to read that book, but I won't pay $14.99 for it.

I say $5.99 is enough

I have set $5.99 as the maximum price I will pay for an e-book.

That may be unfairly low. I don't know what the cost of all those editors and publicists is. I don't know how many other books are subsidized by the sale of the big ones like this. It may very well be that a more realistic price would have to be higher - maybe I should reasonably expect to pay $10.00.

Actually, because I really would like to read this one, I'd be willing to break my self imposed rule and make an exception. I might be willing to pay $10.00 for this one.

No, I can't do that. It has to be $5.99. I'm sorry, but that's my best offer.

Steve Jobs
Amazon Price: $13.00
List Price: $35.00

Supply and demand

Yeah, I know about that, too. If Amazon can get that price, they'll ask for it. Maybe these super popular books are not the right place to take a stand - I may never get to read this!

On the other hand, if more and more of us show Amazon that we will only buy the lower priced e-books, they may start to see a pattern. I'm quite sure that they have an executive or two whose job it is to analyze buying patterns.

So, I'm doing my part. As much as I would like to read Steve Job's biography, I'm going to stick to my rule: no more than $5.99 for any e-book.

I'm stubborn like that. Foolish, perhaps, but definitely stubborn.

I'm not entirely alone

To the right of this text you will see a little blurb for a $2.99 e-book. It's by a fellow named John Locke and it tells the story of how he has become a million copy author by selling his e-books at 99 cents.

Yes, 99 cents.

I'm sure he has costs and expenses, too. In fact, that book over there will tell you all about that.

I'd like to suggest that you might want to read that. If you do, and still feel that a $14.99 price is justifiable for that Steve Jobs e-book, I'd like to hear why.

That book is why I set my limit at $5.99. If that book can turn a profit at $2.99, I think a best seller can do so at $5.99.

Again, I might be wrong. I don't think I am, though.


Comments

Stephanie Henkel profile image

Stephanie Henkel Level 7 Commenter 5 months ago

I agree wholeheartedly! I love books, and have been surrounded by them my whole life. Now that I'm trying to simplify my life, I'm thinking that an e-reader would be a good idea - until I look at the price of e-books. When I do buy one, I'll probably set a lower limit than you have and just go to the library to get hard copies of new books.

dahoglund profile image

dahoglund Level 7 Commenter 5 months ago

Like anything else, an ebook is worth what you are willing to pay for it.I have not made the jump to ebooks yetand I am not up to date on technology so I have not decided what I will pay for an ebook reader.

Pcunix profile image

Pcunix Hub Author 5 months ago

You can check out e-books from the library too.. You just need to have a library card. It's free, though there is often a long waiting list and your time to hold is usually more limited.

mikeq107 profile image

mikeq107 Level 5 Commenter 5 months ago

Could not agree with you more mate....Truth be told they are not catering to our generation but the next I-pod… don’t think for themselves…. please tell us what to buy and do and good-by old fashioned libraries which will become museums...great hub on a current topic...guess we know how the horse felt when he saw the first model T!!!

Mike :0)

Bob Parker 5 months ago

I attended a very interesting session of the Chiang Mai Geeks Computer club today. One of the presenters has just published an e-book using Amazon and he stated that books less than $10 have a 70:30 split in the author's favour but at higher prices the split is 30:70. So Amazon seem to be in the right direction even if they have not arrived at the destination you want.

Bob

ThisIsMe 5 months ago

A couple of things:

1. I've had a Kindle for years and love it. When I first got the Kindle, books cost $10 or less. Then the publishers of the books bitched that Amazon was selling them so cheaply and forced them to raise prices.

2. There are thousands of books for the Kindle that are totally free. Others cost very little. Although this limits what you read to some extent, the selection is still wide enough to satisfy a large percentage of readers.

I agree that some prices are outlandish. I avoid those prices.

Pcunix profile image

Pcunix Hub Author 5 months ago

Not quite right, Bob: see https://kdp.amazon.com/self-publishing/help?topicI

To qualify for the 70 percent royalty option, books must satisfy the following set of requirements:

• The author or publisher-supplied list price must be between $2.99 and $9.99

• This list price must be at least 20 percent below the lowest physical list price for the physical book

"

Trish_M profile image

Trish_M Level 6 Commenter 5 months ago

Hi :)

Very interesting.

I, too, love books ~ and I have way too many for my shelves (mainly non-fiction).

I was very wary of e-books, but my husband bought me a Kindle and I have now downloaded lots of free stories ~ Dickens, Wilkie Collins, etc, so I'm quite pleased with it.

I, too, noticed the high prices of some of them and I wondered about the justification, but writing a book is quite a feat and I understand that 'paper' books generate very little profit for authors, so, perhaps, this is their chance to get a real return for all their hard work.

Chasuk profile image

Chasuk Level 5 Commenter 5 months ago

Few books sell millions of copies. Few authors make their living solely off their writing. Prior to ebooks, publishers made the majority of the profit, not the authors. Ebooks allow authors to redress that imbalance.

Kathleen Cochran profile image

Kathleen Cochran Level 6 Commenter 5 months ago

I agree. I have four books selling as E-books priced between $2.99 and $9.99. I'll encourage you or anyone to buy them. I'm a far sight from being even close to a millionaire! And I'd appreciate the sales this time of year.

Baileybear profile image

Baileybear Level 3 Commenter 5 months ago

I'm thinking of trying short non-fiction ebooks - I'd only price them for a few dollars max. As much as I like paper books, they are usually overpriced and the author usually loses out

LeanMan profile image

LeanMan Level 4 Commenter 5 months ago

I also feel that the cost of these books is very high, although I have acquired most of mine through alternative routes (maybe the reason for the originals to be priced so high!)

The high price of "real" books is often due to the fact that the publisher has to allow for the destruction of thousands of unsold copies or passing them on to be sold in "50c" bookstores.. The number of unsold books every year that are pulped is many many millions and is one of the biggest reasons for the high prices.

However e-books should be very low priced - but they are like any other product; you can buy your Walmart jeans for a few bucks or you can buy your designer label jeans, walmart will make much more selling jeans than any design house but the design house is selling to their niche and competing on perceived quality rather than competing on price - if they could only compete on price they could never enter the market place as the big players have already got it sewn up!

A publisher has many costs to cover and probably needs to subsidize the hard copies also - a lone publisher of 99c eBooks probably has few if any overheads to cover and can thus make a huge profit on selling at these low low prices.

laurathegentleman profile image

laurathegentleman Level 5 Commenter 5 months ago

I LOVE the smell of books. I know what you mean - at first I was completely against e-books! Then I tried a friends Kindle and I'm captivated.

However, for me, buying e-books and purchasing an expensive Nook or Kindle seems like a waste. I get all my books for free - I'm a library-aholic. :)

Baileybear profile image

Baileybear Level 3 Commenter 5 months ago

My previous job was for a publishing company. They had a policy of return of unsold stock - since shop soiled. Piles of books, now 'seconds' sat in the warehouse. They didn't want to give them away or sell them cheap, because they want to sell the full-priced stuff.

Trish_M profile image

Trish_M Level 6 Commenter 5 months ago

Such a waste, Bailey Bear!

Pcunix profile image

Pcunix Hub Author 5 months ago

@Chasuk I'm talking about books that DO sell millions of copies.

As to authors getting screwed, I have no doubts about that. I expect the smart ones are turning to self publishing in droves.

Pcunix profile image

Pcunix Hub Author 5 months ago

I just checked with http://sailsinc.org - that Jobs book is not yet available in digital format at Sails.

No great surprise, I guess :-)

Baileybear profile image

Baileybear Level 3 Commenter 5 months ago

authors do get screwed. Company I worked for sold millions of children's books by a particular author that they paid low royalties to. Disgrunted at how much they were paying the author, they are planning to replace the series with books in same format & style but written by their in-house editors, as they believed the author had nothing to do with sales

Baileybear profile image

Baileybear Level 3 Commenter 5 months ago

then you get all the print books that prove to be a flop - they don't sell. Who cops the loss - ultimately the customer does with more expensive dead tree books

thirdmillenium profile image

thirdmillenium 5 months ago

I have 3 books on kindle which I have not sold even one copy. LOL

Pcunix profile image

Pcunix Hub Author 5 months ago

As of this morning, I've made $3,561.09 , which is hardly a fortune, but it was worth the effort it took to write them.

ericsomething profile image

ericsomething 5 months ago

Pcunix, I'm one of those dinosaurs who likes the heft of a book and, yes, the smell of the ink and the paper. I notice those things. Ebooks are all right, portable, easy to read, but since the only physical material that goes into them is a bunch of electrons, they should be cheaper than the dead-tree version.

Kathleen Cochran profile image

Kathleen Cochran Level 6 Commenter 5 months ago

Pcunix - You are an inspiration to the rest of us!

Trish_M profile image

Trish_M Level 6 Commenter 5 months ago

$3,561.09!

Very impressive, I'd say :)

Well done.

Donna Sundblad profile image

Donna Sundblad 5 months ago

I've gone through much the same journey. Even as an author, I didn't like ebooks. My books were made available in both print and ebooks and I'd promote the real deal. With my latest book, I'm promoting both, and at almost 400 pages, the ebook version of my book is $4.99. I still make something on it, and it is a deal for my readers.

itsmonkeyboy profile image

itsmonkeyboy Level 4 Commenter 5 months ago

Great hub! I really enjoyed reading this, and it covers some points quite close to my heart as well. I recently moved home and have some built in bookshelves which I'm determined to fill with new books. I worry about buying a Kindle, as although I really like them and think it would be great, I feel I'd probably have to buy books I really like twice. Once to read on my ebook reader, and one to put on the shelf!

There are certain books as well that I love and just need on a shelf, I always feel you can tell something about a person by the books on their bookshelves.

You are right to question the cost of ebooks though, it does put me off buying any so far. I've downloaded some of the free books but like yourself I don't read fiction any more and have not done so for years. All my books are based on science, fact and theory. Unfortunately these tend to be the most expensive books in both ebook and book formats.

I enjoyed reading your hub though, it brightened up my day to read about not just yourself, but the others you have commented that are having the same/similar doubts to myself over the best course of action. Cheers!

Pcunix profile image

Pcunix Hub Author 5 months ago

I haven't reached the point where I am willing to throw my books out. Perhaps if I had unlimited space and unlimited funds, I would adopt your dual strategy.

As you say, the books I like are the expensive ones :-)

The Sail network is still in its infancy - many books I want to read are simply not available. I hope that improves.

Oh, and yes: I always look at folks bookshelves. It's the empty ones that tell the most :-)

Scooterch 5 months ago

"no production cost, no shipping, no damage...almost no selling cost - no storefront, no shelves, no counting of inventory, no store clerks."

Gee, that's a lot of mis-information, right there.

The only thing distinguishing digital from print books is physical production and distribution. They have the same pre-print costs, and those are the bulk of the costs. Printing is cheap.

Digital books incur costs for rights management, auditing and security (stock control), online storage and display. Staff need to manage help lines and chat forums and handle customer queries and complaints.

Digital and print books share the same marketing costs and even some of the incentive costs e.g. payments to retailers for display. Incentives paid to book reps for promoting physical books are replicated in online promotion and incentives to marketing partners.

Selling books is a complex business and becoming a best-seller requires heavy investment in marketing and incentives, online or off.

I adopted ebooks early, as a publisher and I realise that the ultimate test is public opinion and what people are willing to pay. Pricing has never been about costs: it is based on the value that you, as a reader, place on the book and that can reflect unique data or good marketing. Add convenience and additional value through functions like search, sharing, annotations etc. and you have the recipe for similar prices in digital formats.

Now you have re-evaluated your approach to book formats, it may be time to reconsider your views on pricing.

Pcunix profile image

Pcunix Hub Author 5 months ago

I have heard those arguments before and mentioned them all above. I don't buy it. You are gilding the lily. You are also being ridiculous: there is no stock control for digital products and security is a far simpler matter.

Search and annotation are not costs applied to books again and again. That's dirt cheap and it is applied ONCE.

The end is where you told the truth: "Pricing has never been about costs". In other words, we'll rape the public if we can.

Those days are ending. You are going to have to adopt a more honest pricing model.

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