Fuchs quoted a piece in The Guardian by Barry Eisler — a popular thriller writer who turned down a $500,000 advance from St. Martin's Press to self-publish — on the problems facing authors in the traditional publishing industry:
They generally pay us only 12.5% in digital royalties, compared to the 70% we get from Amazon.
They insist on taking control of our copyright not for a reasonable term, but forever. They've done all they can to try to keep the prices of books artificially high, which hurts consumers and costs authors money. They have a record of zero innovation. And they've run the industry for decades in a way that has benefited the few while stifling new opportunities for the many.
A self-published (and bestselling) author named Hugh Howey has published a report backing up those claims, arguing that writers like him make more money from Amazon.com electronic books (e-books) than authors who have contracts with the five major publishing houses.
To see the chart produced by Howey as evidence and read the rest of this article by Corey Adwar: please click on Link below;
http://www.businessinsider.com