There's much controversy and opinions over the new Kindle Unlimited and updates. Here's my experience:
Since I self published my first book back in December 2013, I have seen that most (if not all) of my monthly sales were on Amazon. So, I made the much debated decision to pull out of Barnes & Noble and Smashwords and enroll in the KDP Select Program for the three month period.
From that point on, I saw more borrows that sales. I allowed it to continue to renew. But, when they announced the new changes as of 7/1/15 -- ( Changes such as Pay-by-page and not per sale and the fact that I wouldn't have an accurate count of sales) I became skeptical like the rest of the authorship. So, I performed my own experiment.
I didn't renew my KDP Select contract as of 7/28 and even lowered my prices. Here's what happened:
- I re-published on B&N & Smashwords -- Sales were a whopping -- zero
- Even with the same amount of social media presence and email blast on my part AND a lowered price, I sold FOUR books. FOUR frieken books! An all time low for me.
Needless to say, I barely made it to the 15th before re-enrolling in KDP Select.
Yes, KDP Select has it's disadvantages like exclusivity to only Amazon. But, honestly that's where I have the most of my sales anyway. Every month, I have triple the amount of borrows than sales. Additionally, when I received my monthly statement for July I surprisingly found that I earned more on the per-page changes than I did the previous month when it was based on actual sales. (my book is about 90k words)
That is just my experience with KDP Select. I have personally found it to be very beneficial. Kindle deal days have helped put me in the bestsellers category on multiple occasions. And, I find that readers are more likely to read a book by a new author if its at little to no cost to them. Kindle Unlimited has been a win/win for me. My only regret is losing potential royalties for those 15 days I wasn't enrolled.
Feel free to tell me how KDP is working for you.