7 Key Self-Publishing Trends Authors Need to Follow
The publishing industry in the United States generates approximately $28 billion in revenue each year. Although this number has remained steady for the last four years, significant changes have been occurring within the industry. The number of self-published books has seen a remarkable increase of 264% in the past five years. This field is actively evolving, and as an independent author, you have a significant role to play.
As publishers and consumers adjust their expectations in the coming years, which trends will hold the utmost importance? We are here to share self-publishing trends in 2023, guiding you in the right direction. Let’s discover them together.
Top Self-Publishing Trends in Writers Market
#1 Publish Paper and Digital Books
Today, numerous individuals favor reading ebooks, which are always accessible and don’t require additional space in the apartment. According to market predictions, the ebook segment is expected to witness an increase in readership to 1.123 million users by 2027.
Statistics also indicate that audiobooks are enjoyed by 10% of the US population. This format enables them to multitask and indulge in captivating novels or biographies from anywhere. So, what does all of this imply for independent authors? It is optimal to publish your stories in multiple formats, including paper, electronic, and audio versions. This approach ensures the widest possible reach among readers.
#2 Choose from Suitable Services
If you are a novice author, small services with their own audience are better suited for you. More famous authors should give priority to larger services. Also, consider the direction of the service.
The app for novels is better suited for those authors who work in this direction. One of the popular services is FictionMe and on it, you can get published. If you manage to get into the top authors, you will get more views, so it is worth growing your fan base and actively participating in communication with fans. The application also has a top book category, many settings options, and text playback by voice. Since this is a popular offline novel reading app, you can reach a larger audience than just selling paper books or digital versions without download options. FictionMe is a good option for both beginners and more established authors.
#3 Most Popular Genres
Fiction authors, rejoice! We bring exciting news about the most lucrative genres on Amazon, as shared by Gary Smailes:
- Romance and erotica, bringing in $1.44 billion in revenue.
- Crime and mystery, generating $728.2 million.
- Religious and inspirational, accumulating $720 million.
- Science fiction and fantasy, reaching $590.2 million.
- Horror, with a total of $79.6 million.
Writing within these genres can pave the way to becoming a highly-paid writer in 2023.
#4 More Indie Authors Will Collaborate or Consolidate
Just like traditional publishers, indie authors are also coming together to combine resources and reach larger audiences. For instance, LMBPN Publishing by Michael Anderle has achieved notable success and can serve as a model for aspiring authors.
According to Kinga Jentetics from Publish Drive, collaborative efforts among indie authors can elevate their businesses to new heights. “By sharing production costs and collaborating on marketing, indies can publish faster and expand their back catalogs,” Jentetics explained.
Furthermore, the indie publishing industry is now better equipped to support collaborations among indie authors. Draft2Digital, for example, enables payment splitting, making it effortless to share proceeds from co-authored books distributed through their platform.
#5 TikTok for Sells Books
Today’s fast-paced world is one reason why this platform has gained immense popularity. People now have limited time to indulge in lengthy videos. Instead, TikTok offers short, dopamine-boosting clips.
This platform can serve as a robust marketing tool for you. Consider the fact that the #booktok community alone has amassed 93.9B views and counting. This presents an exceptional opportunity to connect with a vast audience of readers and potentially attract buyers for your book. Furthermore, establishing a TikTok profile is one effective way to cultivate your personal brand.
#6 AI-Generated Book
We cannot overlook the latest trends in book cover design. 3D modeling captures attention and empowers artists to create immersive fictional worlds with lifelike characters and settings.
Additionally, let’s not forget about the rise of AI-generated images, which have become increasingly prevalent online, thanks to Midjourney’s public accessibility. Although copyright issues may arise, self-published authors are boldly experimenting with and embracing AI-generated art for their book covers and illustrations.
#7 Podcasts – an Effective Marketing Tool
Daily, 45% of Americans engage in spoken-word audio, with podcasts preferred by 22%. These statistics highlight the effectiveness of this format in connecting with your audience and potential readers during various activities.
Hosting a podcast can be done on platforms like YouTube or Anchor while collaborating with authors or book bloggers offers additional benefits. If time or inclination for regular podcasting is lacking, consider creating audio versions of your blog posts for any time listening by fans.
If you choose to self-publish, you face some daunting challenges. The most important thing is for people to know about you and form a fan base. Naturally, the more unique and interesting the book, the faster you will gather your fan base. Understanding modern trends in the field of self-publishing will help you enter this niche in time and get ahead of more conservative competitors.