Today Barnes and Noble finally launched their own digital publishing platform called PubIt to keep up with the other major e-retailers like Amazon and Apple. The bad news, however, is that their rates are lower than both of those.
Amazon and Apple pay 70% of the list price to independent publishers and authors for using their self-publishing platforms, whereas PubIt pays 65%.
Here are the pertinent details from the press release:
With PubIt!’s launch, Barnes & Noble is adding tens of thousands of titles from thousands of independent publishers and self-publishing writers who pre-registered for the new service since it was announced. PubIt! titles are incorporated into Barnes & Noble’s expansive eBookstore, one of the world’s largest digital content catalogs, offering more than a million digital books, periodicals and more. Newly submitted PubIt! content will be available for sale within 24 to 72 hours after upload.
Among the features and benefits of PubIt!, independent publishers and self-publishing authors will enjoy a simple and competitive compensation model, with no hidden terms or fees. PubIt! uses a Web-based platform for publishers to independently set up their accounts, upload their eBooks, set the list price and track their sales and payments. Publishers can price their titles between $0.99 and $199.99 and receive a competitive royalty based on the given price. For PubIt! eBooks priced at or between $2.99 and $9.99, publishers receive 65 percent of the list price for sold content. For those priced at $2.98 or less, or $10.00 or more, publishers receive 40 percent of the list price. PubIt! publishers can be confident they will be compensated from the list price they set with no additional charges, regardless of file size.
Publishers’ intellectual property will also be well-protected with Barnes & Noble’s leading digital rights management technology and offered in ePub format, the industry standard that allows content to be enjoyed by customers on hundreds of the most popular mobile, computing and eBook reading devices. Publishers with U.S. rights to their content can easily upload their ePub files or their Microsoft Word, TXT, HTML or RTF files which the PubIt! platform will convert to ePub at no cost. Publishers can also see how the content will look on one of Barnes & Noble’s eReading devices using the NOOK emulator.
In addition to the company’s competitive compensation model, independent authors and publishers will gain greater visibility for their works through a range of programs and promotions that only Barnes & Noble can offer. Publishing an eBook through PubIt! will make the content available via Barnes & Noble’s innovative Read In Store™ program which gives Barnes & Noble bookstore customers the ability to browse the complete contents of eBooks at no cost. Barnes & Noble is also the only company to offer customers the ability to share eBooks with friends through its breakthrough LendMe™ technology. All eBooks offered via PubIt! will be lendable, giving the customer the opportunity to share the book once with any friend for up to 14 days.
Works offered through PubIt! will be merchandized through special promotions on Barnes & Noble’s eBookstore, including a PubIt! bestseller list, and select content will be featured in e-mails, newsletters and throughout BN.com. Barnes & Noble also offers e-mail support and a robust online community for those interested in PubIt!. More information on PubIt! can be found at www.PubIt.com.