99p ebooks – proof publishers are wrong on prices

"The American self-publishing author John Locke sells his ebook novels for 99 cents on Amazon.com. Since January he’s sold 350,000 books, pocketing 35 cents per book sold. That’s $122,500 dollars of income in less than three months.

When another self-publisher, Joe Konrath, reduced the price of his book from $2.99 to $0.99 his sales went from 40 books per day to 620, increasing his revenue by five times in the process.

It’s a similar story in the UK – as I write this, six of the top 10 Kindle books are priced at £1 or less. It’s not just self-publishers; some big-name publishers have caught the bug too. What better way to get people hooked on a new series than selling at a knock-down price?"

http://conversation.which.co.uk/technology/99p-ebooks-publishing-industry/