Last night I received a royalty check from iUniverse. It was an actual, physical check, which is not what I signed up for, because I don’t want to be charged a fee, and I don’t want to wait until I make $25 or more before receiving payment. I like instant gratification, and the free kind is best. I am subscribed for direct deposit so I pay no fees and get my payment no matter how small it may be.
I said, I would report anything I learned about iUniverse and try to be as unbiased as possible. As such, I will only state the facts about this account for Be Still, since I have thus far received two royalty payments. Keep in mind, the first installment I had just put the book out and only had a little over a month in that sales quarter.
Here are the results:
Books Sold: 12
Net sales: $62.68
Payable to me: $17.34
What I actually received: $12.29
Books sold: 27
Net Sales: 112.59
Payable to me: $36.65
What I actually received: $26.49
I called iUniverse today to ask whyy my net payable is less than what I am receiving. I was told that I had not filled out my tax info, so a standard 28% was being withheld. Okay, maybe that was my fault. I immediately went on the website and fixed that.
I only post to this for those authors who are thinking of using iUniverse to publish. I have stated that I liked them due to the fact that I didn’t have to do any of the work myself, and as a very busy single mother and employed as a full-time nurse, this was an area I didn’t have time to spend in. I have heard complaints about royalties not being paid, etc. In my opinion, my numbers look correct. I know I have about 20 more Kindle sales at the end of the 3rd quarter, but I also know they may not have been reported yet, so i’ll have to keep an eye out there.
All-in-all, the royalty pay out is crappy at best, but I haven’t encountered a problem in the numbers being wrong. I may have to look into small publishing houses for my next book, but we’ll see. I’m not thrilled with the idea of being paid nearly 40%, when I already paid out a small fortune to publish. I know they have to make their profit somewhere, because they are a business after all. I am grateful to all I have learned from this experience, but I work my behind off for this book, and would like to see a better return on my investment. Not sure I will use them again, but only because I’d like to see a better spending to profit margin.