In a bold move that makes self-publishing even more lucrative and rewarding for authors, print-on-demand platform CreateSpace announced today that it was removing the minimum threshold for royalty payouts to authors who take advantage of its direct deposit payment option. In addition, the payout date will now be thirty days following the prior month instead of sixty days.
In the past, many platforms have maintained a minimum amount of sales before royalties would be paid out to authors. Now, CreateSpace is removing its own “$10/£10/?10” minimum, allowing authors to be paid for each month’s sales regardless of the amount.
“As of January 20, 2014, the minimum threshold amount has been removed for accounts selecting Direct Deposit as their payment method. Previously, you were required to wait until royalties met the minimum payment amount (threshold) of $10/£10/?10 before any earnings could be dispersed via direct deposit. You will now be paid approximately thirty (30) days following the end of the calendar month during which applicable sales occurred, no matter the amount.”
Authors can update their payment information in the Member Dashboard of their CreateSpace accounts, as well as opt out of this payment option if they choose.
One of the first major changes that CreateSpace’s parent company Amazon made to disrupt the traditional publishing following the launch of Amazon Publishing was to announce that it would no longer require its authors to wait for quarterly royalty payments, and would no longer be paying three months in arrears. At the time, the leadership of Amazon Publishing pointed to the benefits that self-published authors have long enjoyed, namely the monthly royalty payment structure.