Kobo is to up the level of royalties self-published authors earn on its Writing Life platform by 10% from September. Self-published e-book sales have risen by 700% in one month, Kobo has also revealed.
Kobo’s Writing Life self-publishing platform launched at the end of June, paying a 70% royalty on e-books priced between $1.99 and $12.99, and a 45% royalty on e-books below $1.99 or above $12.99. By contrast, Amazon pays a 70% royalty on KDP e-books priced above $2.99 and a 35 percent royalty on those below $2.99.
The Canadian-based company, owned by Japanese company Rakuten, now says it will up royalty payment to authors by 10% "on the sale of applicable items" starting from 1st September and ending 30th November. It added that since its official launch, the portal has seen a 700% increase in sales for its self-published titles. Within the first month, authors from 73 countries have published titles across ten languages, including English, German, Spanish, French, and Italian.
Michael Tamblyn, EVP of Content & Merchandising, Kobo, said: "Our team went to great lengths to ensure Kobo Writing Life would be an intuitive, writer-focused solution adding value to the self-publishing industry, and we’re thrilled with the result."