Kindle Direct Publishing is excited to introduce KDP Select – a new option dedicated to KDP authors and publishers worldwide, featuring a fund of $500,000 in December 2011 and at least $6 million in total for 2012! KDP Select gives you a new way to earn royalties, reach a broader audience, and use a new set of promotional tools.
Here’s how KDP Select works:
When authors and publishers make any of their titles exclusive to the Kindle Store for at least 90 days, those with US rights will automatically be included in the Kindle Owners’ Lending Library and can earn a share of a monthly fund. The monthly fund for December 2011 is $500,000 and will total at least $6 million in 2012. The Kindle Owners’ Lending Library is a collection of books that eligible US Amazon Prime members can borrow for free once a month with no due dates.
Participants also now have access to a new set of promotional tools, starting with the option to promote KDP Select-enrolled titles for FREE for up to five days every 90 days.
How shares of the monthly fund are calculated:
Shares of the monthly fund are based on enrolled titles’ share of the total number of borrows across all participating KDP titles in the Kindle Owners’ Lending Library. For example, if total borrows of all participating KDP titles are 100,000 in December and your book was borrowed 1,500 times, you will earn $7,500 in additional royalties from KDP Select in December. Enrolled titles will remain available for sale to any customer in the Kindle Store and authors/publishers will continue to earn regular royalties on those sales.
What this means:
KDP Select gives access to a whole new source of royalties and readers- participants not only benefit from a new way of making money, but also get the chance to reach even more readers by getting books in front of a growing number of US Amazon Prime customers: readers and future fans! Additionally, the ability to offer books for free will help expand worldwide reader bases.
How to enroll:
KDP Select is available for titles participating in both the 70% and 35% royalty options. You can immediately start by enrolling a single title, your whole catalog, or anything in between.
If you’re interested in enrolling a title that’s already uploaded, simply click “Enroll” next to the book in your Bookshelf. To enroll multiple titles that are already uploaded, select the boxes next to any number of titles, then click “Actions” and choose “Enroll these books in KDP Select.” The titles you choose will be enrolled immediately.
If you’re interested in enrolling a new title, simply check the “Enroll this book in KDP Select” box while submitting details about your book and proceed to publish the book as you normally would. For new titles, enrollment takes effect once the book is available for sale on Amazon’s web site. To learn more, visit KDPSelect.
Click here to find out more about the Kindle Owners’ Lending Library.