“It used to be about getting on the shelves in bookstores, and they would take care of promotions, pricing and other challenges for authors, in a sense,” said Mr. Paley. “But e-books have created a ‘discoverability’ problem for readers, and stores are no longer as powerful in driving sales,” he said.
That’s certainly true. Authors report that BookBub ads are successful, so we need BookBub to stick around.
Also from the WSJ article:
The CEO plans to use the funding to develop new “e-book discovery” products for people who love to read. The company also plans to “localize” the BookBub newsletter and site for different, international markets, starting with English-language speaking countries.
What does this mean for you?
It means that you’ve got somewhere to advertise your ebooks (as long as they have proven sales) to millions of subscribers. Anecdotally, authors report upticks in sales from their ads on BookBub. You’re restricted to two promotions a year, as far as I know. That’s OK — you need to be writing more, anyway.
More generally, the investment means that a company with a mailing list of 3 million people who want free and inexpensive self-published ebooks is an attractive bet to investors. That’s the BIG news.
Now that BookBub has achieved this investment, we’ll see other companies starting up in the same space, and this is a good thing. Ebooks are healthy.
There’s been some concern that BookBub might abandon indies, and focus on promoting traditionally published books. I don’t see this happening at all. Big publishers have their own resources, and mailing lists.
Whatever happens, this is a good omen for indie authors and ebook sales.
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