Forbes is the authority on money, and according to their findings indie authors aren't getting rich with the self-publishing boom. In fact, some of them aren't making any money at all. If you're in the indie game for the bucks, you've got some re-evaluating to do.
After examining data from Digital Book World and Writer's Digest, Forbes found that self-published authors are pretty cash poor. Their median income is under $5,000 per year. Almost 20 percent of self-published authors get no money from their writing.
Authors who use the traditional publishing route aren't faring that much better. Their median income ranges from $5000 to $9999. The hybrid authors are the ones making the most money, as a matter of fact. Their median income range is $15,000 to $19,999...which, for the number-crunchers out there, is still very close to the national poverty line.
But not every author out there is eating salad. According to the report, almost 2 percent of self-published authors made over $100,000. Almost 9 percent of traditionally published authors reached this level, while over 13 percent of hybrid authors made a 6-figure income.
The study was compiled through October and November 2013. Almost 9000 authors participated in the study.