Amazon has announced its 70 per cent royalty scheme for UK authors and publishers putting up their e-books for sale in the Kindle store.
The new deal will be a part of Amazon's Digital text Platform (DTP), which allows publishers and authors to publish their work online, which can be purchased by Kindle owners and people shopping in Amazon's e-book store.
The 70 per cent royalty scheme introduces a 5 per cent typical sale sharing ratio between publishers and Amazon, similar to Apple's revenue sharing scheme with developers.
Greg Greeley, Amazon Vice President, European Retail, said in a statement: “We are excited to be able to announce the launch of the 70 per cent royalty option in the UK. Now authors and publishers worldwide can offer more content to Kindle customers in the UK and make more money from the books they sell.”
Under the new royalty program, authors and publishers must set the price of the e-book between £1.49 and £6.99, at least 20 per cent lower than the minimum retail price for the physical version of the book.