The latest Author Earnings report from Hugh Howey has come out.http://authorearnings.com/the-tenured-vs-debut-author-report/
Here's my takeaway.
Roughly 500 authors debut in the Big 5 publishers per year.
This is a vanishingly small number.
They also point out that maybe only 300 fiction authors in the Big Five earn a decent living. Even if they're off by half, that's only 600 authors. Again, vanishingly small.
The ones on the tippiest top are doing well -- it's a logarithmic scale, though. It drops off rapidly.
It's not just that you have to be must less than the 1% to be published, but your chances of earning a living even if you do get published are minimal.
I've decided I could take the money I spend on writing and buy lottery tickets and my chances of making money will probably increase....
The odds are better if you self-publish, apparently. But again, these are the exceptions -- and usually people who are naturals at promoting themselves.
I'm going to keep writing. Money was never really the object, though I did want to have readers if possible. But even there, I decided that I would write the best books I could and be satisfied with that.
It's a spiritual thing for me. I figure the universe will figure it out.
3 hours ago