Dan Moren

my writing finances

• My writing finances, 2023

  Posted on

  Jan 4, 2024

  in

  Business, Writing

  With apologies to one of my favorite public radio hosts, it’s time to do the numbers.

  Yes, every year around this time I compile a bunch of information about my writing (and podcasting) finances from the past twelve months and post them online for all to see. Why? Self-indulgence? Morbid curiosity? Some deep-rooted issue with numbers that goes back to my kindergarten class when a teacher told me I was bad at math? Maybe all of the above!

  Anyway, tradition means continuing to do a thing that I’ve been doing for the better part of a decade and not really questioning it, so here we are again.

  This originally started out as inspired by a number of other writers; I think Jim C. Hines remains the most consistent among them, but it’s possible others are still posting them these days.

  My usual disclaimer applies: this is my specific career and isn’t broadly applicable to any other freelancers in any of my industries, so don’t try to extrapolate, you’ll just drive yourself up the wall.

  Also as in the past, I don’t disclose my overall dollar figures, but I will say that once again my total gross income for the past year was well under six figures. The below numbers apply only to income generated by my business, not any investments or retirement accounts, nor does it include my partner’s income.

  With that said, here we go—and buckle in, because this is a bit of a long one. It was a year.

  Big picture

  

  On the broad side, 2023 was another down year for me, which was a bit of a disappointment, though it wasn’t as down as 2022 was from 2021: my overall income declined 5 percent from 2022, almost all of which is attributable to a specific factor (more on which below), which may not seem great, but given that 2022 was down 16 percent from 2021, hey, not too shabby.

  

  

  As I concluded last year, freelance life is full of big swings, and rarely seems to grow in a linear fashion (at least for me). So it’s useful, now that I’m closing in on a decade’s worth of data, to consider the big picture by establishing a baseline. 2022’s performance was only 1 percent less than my median income from the past nine years; this year was thus 6 percent below that baseline. Not great, but not terrible. Since striking out on my own in 2015, I’ve been as far as 13 percent below median and as high as 23 percent above.

  The mix of income also changed a bit this year: in 2022, my podcast and freelance tech writing businesses were about even, each accounting for a little less than half my income. Not so in 2023, where tech writing jumped to 53 percent, and podcast income fell below 40 percent—more on which in a bit.

  Honestly, from a qualitative standpoint, looking back at this year tells me that things could have been considerably worse than the way they ended up.

  Podcasts

  

  There was one big factor that contributed most to this year’s overall decline: the podcast ad market was bad. I have two shows that partially rely on advertising, Clockwise and The Rebound, and both had many episodes without ads for big chunks of the year. But this wasn’t unique to my shows; the podcast market overall was down this past year, and they certainly aren’t what they were four or five years ago. I have started to hear optimism about the year ahead, I’ll believe it when I see it.

  Ads have always been a variable business, though, which is one reason that a lot of podcasts—mine included—have moved to direct member support. The good news is average monthly income from members was up, especially for Rebound Prime, which has proved to be very popular—the bad news is that it’s not up enough to compensate for the loss of advertising. But membership has become an increasingly important source of income, and if ads don’t come back, it will be even more so. So, thank you to everybody who directly supports the podcasts you listen to and love: it does make a difference. More importantly, if you’ve been waffling on whether or not to support that podcast you love, do it!

  Freelancing

  The interesting nature of the year doesn’t stop at podcasting! My freelance tech journalism career also underwent a little tumult this year, as one of my biggest clients cut back my regular column to bimonthly (it had previously been cut back from weekly to all-but-one-week-per-month1).

  That was a bit of a hit to be sure, but it didn’t happen until halfway through the year, and thanks to a late-in-the-year freelance project for another site, and a better average monthly rate for my other major client, my tech writing income went down less than 1 percent overall.

  That certainly leaves a lot of questions for next year, but I’m hoping a combination of more freelance client work and lots of interesting stuff to write about in the Apple sphere will keep that chugging along.

  Fiction

  Finally, on to the reason most people tune in: fiction writing. (Well, I think? I don’t really know, but it is the idea this whole thing is predicated upon.)

  It was a really interesting year in my fiction writing career, for a few reasons. As I’ve mentioned in the past, fiction writing income varies widely from year to year, depending on things like new contracts signed, sub-rights sold, or advance installments paid.

  Fiction accounted for a solid 8 percent of this year’s income, compared to just 3 percent in 2022—though keep in mind, as detailed above, overall income being down doesn’t make that an apples-to-apples comparison. Still, it was a good year, my third highest in the time I’ve been writing, and well above both my mean and median yearly fiction income.

  
  That income was driven by three predominant factors: first, I signed a new contract with my publisher for two books, including the next Galactic Cold War installment, which comes out later this year. My agent also sold the audio rights for that book, which accounted for some decent income.

  Second, royalty income for my existing published books was actually pretty solid.2There’s a bit of a lag between sales and payouts and I think last year’s debut of The Nova Incident bolstered sales of previous volumes in the series. Here’s hoping this year’s sales of The Armageddon Protocol impart a similar boost! (I will note that Nova is the only of my books not to earn out its advance yet, though it’s pretty close, so if you haven’t already bought it, *bats eyelashes*…)

  But wait, you might be saying, didn’t you publish another book this year? Why yes, I did! All Souls Lost is the third factor, but it’s a bit more of a mixed bag financially because it was put out under a different model than my previous work.

  Since my agency published the book, it meant some upfront outlay for me: I essentially fronted money for the cover art, copyedit, and some additional costs (technically, my agency paid them then recouped said costs from my earnings). But, on the upside of this structure, I stand to make a bigger percentage of sales on the back end: around 60 percent on ebook sales, as opposed to the standard 25 percent that most traditional publishers offer.3

  I also only got one payout for sales from All Souls Lost before the end of the year, and that did not include the store from which the bulk of purchases were made, Amazon. (Why? Because Amazon pays people roughly two months after sales, rather than 30 days, like most of the other ebook stores. Thanks, Jeff!) Had that payment been made, I think it would have materially bumped up my overall fiction revenue.

  Interestingly, 2023 could have been an even bigger year: due to the paperwork shenanigans and the usual slowness of the business, two other substantial payments I was expecting didn’t materialize before the end of the year, but will probably show up in January.

  Now, I’m sure there are those among you who wonder: Wait, if you stand to make more from this book published by your agency, why not publish all your books that way?

  Well, there are a few reasons: for one, though I sell way more in ebook than in print, I admit to still having some nostalgic ties to print books. And if you want to get a print book that’s not from a traditional publisher into bookstores, it’s more complicated (but not impossible) this way.

  It also certainly seems to make other things dicier: for example, All Souls Lost got zero reviews in trade publications like Publishers Weekly, Booklist, Kirkus, and so on (even despite the fact that PW gave my previous two Galactic Cold War books starred reviews).

  And if making your traditionally published book stand out is hard—and I think I can say confidently that it is!—it’s even harder without a full marketing department at your back. For a little while, social media seemed poised to help authors spread the word about their work, but in the wake of Twitter’s self-destruction and subsequent fragmentation, it’s gotten that much more difficult to find your audience—not to mention the now built-in expectation that authors will flog their works on social media, which some publishers seem to feel abrogates them of any responsibility for marketing. In short: it’s tough out there for authors.

  But the larger financial issue is that, as I said above, we’re talking upfront costs and then waiting to make them back on royalties. Yes, you have to earn out an advance from a traditional publisher, but at least there money is coming in before (probably) you write the book. If my agency publishes a book and it doesn’t sell (or doesn’t sell to expectations), I could easily end up losing money. In a traditional publishing model, I might not make additional money, but at least I’ve got that advance in the bank: lower potential rewards, but lower risk.4

  For now, I think I’m most likely to continue with a hybrid model of doing some traditionally published books and some agency-published books. It lets me continue to diversify my income and allows me to work on different schedules.

  Wrap up

  So that’s 2023 in a nutshell. On to 2024! I’ve said in the past that my goal has been to steadily increase my fiction writing income, but as I wrote last year:

  I think I’ve realized after six years of detailing my finances that this isn’t going to be a linear sort of affair. Some years are up, some years are down, just as with my overall freelancer income, and while I’d like to see that fiction trendline move more consistently upward over time, I have to resign myself to realizing that it’s a marathon, not a sprint.

  I’m excited about what 2024 has in store on several professional fronts, and I’m hoping that I can devote more time to things that I enjoy doing, and not just the things that bring in the most income.

  I also continue to value the flexibility my career provides: It’s worth noting that pretty much all of last year I was working effectively a 3-4 day week and watching my kid the other days, occasionally squeezing some work in during naptime (his, not mine). As of this month, the kiddo is now in daycare five days a week, so I’m basically back to full time. 5

  As ever, I do want to thank everybody out there who has made this career possible, most especially those of you who support me directly as members of my various podcasts or via my work at Six Colors, as well as every single person who has bought one of my books. This fall will mark 10 years of me being out on my own, an idea that is kind of unfathomable: it’s by far the job I’ve had the longest, and I’m gratified that I can keep doing it—that’s all down to the support of people like you.

  With all that said, I hope you and yours are having a good start to 2024 and what do you say we do this again sometime, maybe January 2025? Great, it’s a date.

  ---

  1. There’s really no good word for that, is there?↩

  2. Let’s be clear, though: “pretty solid” means I earned a few hundred bucks per quarter.↩

  3. I’m discounting print and audio here for a couple reasons: a) All Souls Lost print copies weren’t available until the ebook came out, and they’re only for sale via Amazon, which has its own arcane structure for print-on-demand (I’ve been informed the print books are actually available elsewhere!). Plus, ebook sales vastly outweigh print sales. A lot. And b) the audiobook still isn’t out (though it should arrive in just a few weeks), and royalty rates on audio generally have their own weird structures, thanks to things like Audible credits and Spotify’s new Premium streaming service.↩

  4. And, sappy as it may sound, money isn’t everything. If I wanted the biggest return on my books, I could do the publishing myself, as I did for my Galactic Cold War short stories. But then you get into calculations of how much your time is worth; for me, it’s more than worth the commission to have my agency take on some of the work.↩

  5. Which means my revenue automatically goes up 20-40 percent, right? Right? 😅↩

• My writing finances, 2022

  Posted on

  Jan 5, 2023

  in

  Business

  It’s that time of the year once again: the time when we talk about numbers.

  Wooo! Numbers! Nothing gets the crowd riled up like good old math, especially when it comes from someone whose specialty is nominally words. But what, I ask you, are words but equations with letters?

  Don’t answer that.

  Anyway, every January I post details about my finances for the past year. I’ve been doing this since 2018; it originally started out as a way to talk about the business of writing fiction, but since that has historically been a small chunk of my income, it’s more about how I earn my living as a freelance writer and podcaster.

  As per usual, I’ve been inspired by several other writers, most notably Jim C. Hines, who’s been documenting his writing income for much longer than I’ve been in this game. And, as is also custom, I want to make it clear that this is just my personal experience, and all self-employed individuals (by nature) differ wildly. So don’t bother using this to extrapolate what your favorite writer or podcasting personality makes, because I guarantee you, it won’t hold water.

  On to the math!

  I don’t disclose dollar figures but, as in the past, I will say that my total gross income was well under six figures, and that this doesn’t include income from any investments1, just the freelance work I do. Nor does this include my partner’s income.

  

  Broadly speaking, 2022 ended up being kind of a down year for me financially, which comes down to one key (and very positive) reason: in July, my partner and I welcomed our first kid and I took roughly six weeks off from everything. That primarily affected my tech writing income, since my podcasts continued airing in the meantime, thanks to my co-hosts and some excellent guest hosts.2 Ad income from those shows also lags behind a couple months, so I continued earning some money from earlier shows even while I was off.

  But, largely as a result of taking that time off, my overall income was down 18 percent from last year.3 This was my second lowest amount of yearly income since I’ve been self-employed, and my lowest since 2016. But again, all of that comes with an asterisk since I voluntarily took a month and a half off from work. Had I worked during those six weeks at my usual pace, I probably would have been almost exactly where I was in 2020.4

  

  Two other major factors influenced my overall income drop in 2022. First, podcast advertising definitely took a hit in the last quarter of the year. My two shows with significant ad support had several months with very few ads at all. The good news is that membership support of my shows accounted for about 40 percent of podcast income, which helped me ride out the low ad sales.

  Second, I signed no new contracts for fiction work in 2022, which also explains why the chunk of my income from fiction (just 3 percent) was the lowest its been since 2016, when I only had one published book under my belt.

  Indeed, the bulk of my fiction income in 2022 came from royalties, both from my traditionally published books, as well as the short stories I’ve self-published. In fact, I made more from my self-published sales than from any individual novel’s royalty payments, and only a hair less than all my traditionally published novel royalties combined. That’s not exactly a high water mark, as, to be clear, neither brought in a lot: we’re talking a few hundred bucks.

  It is, however, a reminder that for all but the most successful traditionally published authors, advance payments are what primarily drives income.5 I had just one last advance payment in 2022, for The Nova Incident, which accounted for the largest single payment I got from fiction writing this year.

  It’s also worth noting another factor: I got hit by foreign exchange headwinds. The publisher of the Galactic Cold War books, Angry Robot, is based in the UK, which means I get paid in British sterling, and the pound dropped considerably against the dollar this year, as you may have heard. So all of my income from those books was less than it might have been in more favorable macroeconomic conditions.6

  My foray into self-publishing hasn’t exactly filled me with enthusiasm: there’s money to be made there, for sure, but it seems to be a case of spending upfront with a return on investment—and that’s a tough sell, as returns are never guaranteed. To be fair, I didn’t do a lot of marketing for my self-published work, mainly trusting to my existing channels, including my mailing list and social media7. As of this writing, the story I published in 2022, “Homecoming”, sold just over 700 copies, netting me a few hundred bucks. Less than I probably would have been paid if I had sold the story to a publication outright.8 But them’s the breaks.

  Miscellaneous income contributed a tiny portion to my overall bottom line—just 2 percent—from merchandise sales and a small amount of affiliate income.

  Expenses were also back up to 2020 levels, primarily driven by once again traveling for work and buying some new equipment, though they remain largely lower than my pre-pandemic levels (changes in my home office and healthcare situations, as detailed last year, account for some of that as well).

  

  Looking forward, I’m hopeful that 2023 will be an upswing for fiction work—I’ve got some stuff in the works that I’m excited about (more about which when I can share information) and I’m hoping to get back to doing some of the podcasts that I’ve let lie fallow while adapting to my life changes.9 But there’s a lot of uncertainty nonetheless.

  

  As always, my goal has been to grow the percentage of my income from fiction writing, but I think I’ve realized after six years of detailing my finances that this isn’t going to be a linear sort of affair. Some years are up, some years are down, just as with my overall freelancer income, and while I’d like to see that fiction trendline move more consistently upward over time, I have to resign myself to realizing that it’s a marathon, not a sprint.

  But a big thanks to everybody out there who’s supported my work, whether it’s by becoming a member of one of my podcasts (The Rebound, Clockwise, or The Incomparable), subscribing to Six Colors, or buying my books. It all helps me continue cobbling together this weird existence I’ve made for myself, and I’m immensely grateful that I get to keep doing it for another year. We’ll see you back here in twelve months to see what’s what.

  ---

  1. Which, in my case, are pretty much just retirement accounts and some savings.↩

  2. Amazingly, thanks to a fairly recent law in my home state of Massachusetts, self-employed individuals are eligible for paid family and medical leave, meaning I got a small amount of income to compensate for my time off work. Very cool, and something all states (and the federal government) should be doing.↩

  3. Ironically, 2021’s income was up 18 percent from 2020, so I made…about a little less than I made in 2020, despite taking six weeks of leave.↩

  4. Just to be clear: I’m very glad I didn’t work during that time and even more grateful that I didn’t *have* to. Not only because being able to spend all of those weeks together as a family was wonderful, but also because my brain was pretty much mush.↩

  5. In some cases there’s also good money to be made from secondary rights sales, like audio, film/TV, or translation deals, but carve outs for the first are getting much harder to find in contracts, the second aren’t worth what they once were, and the last is extremely hit or miss.↩

  6. Years of listening to Apple earnings calls is finally paying off! I’ve got the jargon down cold. Just don’t ask me for any more color.↩

  7. Speaking of things that are going to be dicey this year.↩

  8. Or, more to the point, if a publication paying that rate would have bought it.↩

  9. I’ve already got one on the books for a few weeks hence!↩

• My writing finances, 2021

  Posted on

  Jan 3, 2022

  in

  Business, Writing

  New year, same old post.

  To recap: every year since 2018, I’ve put up a post talking about my finances as self-employed writer and podcaster, with a particular eye towards my work as a novelist.

  Having been my own boss for more than seven(!) years now, I’ve grown accustomed to keeping diligent track of my finances1, mainly because I need to. But I also think there’s a utility in sharing this information with others—especially for my colleagues who are working writers, or for those who might be interested in embarking upon it as a career and wonder what it’s really like.

  We—especially in the U.S.—often consider money a taboo topic, one that can easily fall into boasting or self-aggrandizement. But I think that making the topic off-limits does a disservice to most people, and to folks in my line of work especially. I’ve greatly appreciated transparency from authors like Jim Hines, Kameron Hurley, and John Scalzi, which has helped to demystify the business for me.

  As usual, I’ll preface this with a note: this is my experience and my experience only. If there’s one thing to take away from the self-employed, it’s that we’re all a little bit different, so don’t take this as gospel; it’s merely one data point among many.

  So, let’s do this.

  As in previous year, I don’t break out the actual dollar figures for my work.2 But to provide a bit of color, my income was up nicely in 2021, making it my second-highest grossing year since I’ve been self-employed. (And probably more than even a few of my years as a fully-employed editor.) However, even that gross figure is still well under six figures.3

  I should also note, though I’m not sure I’ve done so in the past, that this is only income from employment, not from any investments or other income-accruing sources.4

  

  Big picture: I’m a little surprised that 2021 ended up being such a banner year, but interest in podcasts, tech writing, and even fiction definitely seems to have stayed stable, if not ticked up, during the pandemic. Advertising for podcasts has seemed to thin a bit; in 2018 and 2019, podcasting was my biggest source of income, but in 2020 and 2021, it’s fallen behind tech writing again.

  This did mark the first full year of our membership program for The Rebound, which has been a nice little bonus. My back-of-the-envelope calculations suggest that direct membership payments from all of my shows account for a little less than half of my total podcasting income, with ads making up the remainder—that’ll definitely be something I continue to keep a closer eye on in the next year or two.

  Tech writing was up a little bit, thanks to some additional projects that I took on, and a readjusted fee structure for one of my biggest clients, which went into effect in early 2020. It’s provided a stable base for the rest of my income, but it’s not a sector that I’m particularly trying to grow at this point.

  Fiction writing jumped back up again after a lackluster 2020, in which it accounted for 4 percent of my income. 2021 doubled that to 8 percent, though still shy of my high-point of 11 percent in 2019. The big driver this past year was selling another book (The Nova Incident, which comes out this July!), but The Aleph Extraction also earned out its advance, joining The Bayern Agenda and The Caledonian Gambit. That means I now get a little bit of royalty income for them each six months.5 However, all three of my books are earning money, which is a nice place to be, even if it’s not live-on-it income.

  I’ve also had a surprisingly good year for weird miscellaneous income, which doubled since last year, mainly from merchandising and some affiliate fees. But it’s still a tiny piece of the whole pie.

  

  While I’ve been talking about gross income above, one other big factor helped net income this year: expenses were down. And I mean way down. As a percentage of my income, they were half of last year.6 I did go to my first conference since the pandemic started back in December, but in part it was to use up airline credit that I had from canceled trips in 2020. I also didn’t have any big work purchases in 2021, which I expect to change next year as I probably replace my iMac and my iPad.

  As I mentioned in my 2020 write-up, my partner and I bought a house last year, and most of 2021 was spent doing renovations. While those costs don’t directly factor into my business, the fact that our mortgage is significantly higher than our rent does adjust my home office costs. This was also the first full year where I was not paying for my own health insurance out of pocket, which made a huge difference in business expenses. I feel extremely fortunate to have a partner who gets health insurance as part of their job, and it’s another reminder of the deep inequality in our society that not everybody can afford the care they may need.

  As always, the life of a freelancer is more inconsistent than anything else. My income’s varied a lot over seven years, and will probably continue to do so for the foreseeable future. But after doing this for the better part of a decade, I have a better idea of what to expect, how to handle expenses and weather low periods, and generally just how to manage my finances. In general, I’m in a position where I’m not too worried about making it through a given year, though that’s always just a hair’s breadth away: for example, if I were to lose any of my key clients, I would find myself scrambling to make up the difference. But I think I’ve diversified my income enough that it’s not as though it’ll all dry up at once.

  

  As always, I’d still like to continue to expand my fiction income, though there are limitations beyond me in that area. One experiment I’m planning on is self-publishing another Galactic Cold War short (à la my two previous) sometime before Nova comes out in July, and this time charging a small amount for it, just to see how it plays out. I’m also setting myself the goal of finishing and revising a new book by halfway through the year.

  And that’s all I’ve got for my finances in 2021. I hope this was an interesting read for you, and if you’ve got any questions about it, feel free to drop me a line or hit me up on Twitter.

  ---

  1. It helps that I am a bit of a data nerd. For a writer, I like spreadsheets an awful lot.↩

  2. It’s something I’m thinking about detailing in the future, but that taboo is still tough for me to overcome.↩

  3. You want to do some math, you can probably figure a lot of it out.↩

  4. I do have some investments, but mostly they’re set aside for things like retirement or savings.↩

  5. And when I say little, we’re talking on average a few hundred dollars.↩

  6. Of course, for tax purposes, lower expenses isn’t always great.↩

• My writing finances, 2020

  Posted on

  Jan 5, 2021

  in

  Business, Writing

  It’s become a tradition around these parts, when the new year rolls around, to talk a little bit about my writing finances. And guess what? As wild and bizarre as 2020 was, I—like most everybody out there—still had work to do, and a job to get done. For me, that predominantly meant writing and podcasting, and since I know there are people out there curious about what the life of someone in those industries is like, I’m here to share a few details of what my business looked like. (And remember, it is a business, not a passion or calling that’s somehow magically above the need to generate money in order to eat and live.)

  Allow me to offer my annual caveat: this is a picture of my career and my career only, and these lines of work are especially variable—and that’s in a normal year. Attempts to extrapolate what someone else’s career looks like from this single data point are unwise and highly inaccurate. Your mileage will vary. As always, I’ll point you towards the excellent annual post by author Jim C. Hines, who has been doing this for quite some time, and whose posts were an inspiration for this.1

  With that out of the way, let’s dive in to my traditional breakdown of income in 2020.

  

  As in previous years, I won’t be sharing exact dollar amounts, but I will say that my gross income this year was down a bit from last year, and that number remains under six figures.2

  Takeaways! Well, 2020 was…a year. Here’s how it shook out for me. After a meager decline in the percentage of my revenue that came from tech writing, that number went up somewhat surprisingly in 2020, due to a few factors. First, eagle-eyed readers might have noticed that the number of Macworld columns I write every month decreased this past year3; that was slightly offset by a very small raise I managed to secure way back in January, though it still meant a significant drop. Fortunately, one thing that did compensate for that was that I negotiated a rearrangement of my pay structure with another of my regular tech writing gigs, which resulted in a nice bump.

  Podcasting dipped a bit in the overall revenue mix this year: notably, for the first time since 2017, it wasn’t the biggest chunk of my revenue. That’s in large part because one of my regular podcasts saw a significant tail-off in advertising back at the beginning of 2020; another show, meanwhile, experienced a dip in the summer/early fall, though it had already bounced back a bit by the last quarter of 2020. Membership has become a more significant revenue generator in my tech podcasts, with Clockwise Unwound now providing weekly bootleg episodes to paying subscribers and the modestly successful Rebound Prime. Those both helped soften the ups and downs of podcast ads, though they don’t entirely compensate.

  And then there’s fiction writing. Last year, I was very pleased in the upward trend I saw, which went from 5 percent in 2018 to 11 percent in 2019. That made me—ah, foolish early 2020 me!—bullish on the future, though I did inject a caveat:

  Going into this year, I have The Aleph Extraction coming out in May, and…that’s it. Currently, I’ve got no other books under contract, though I’m hoping one or two other projects might hit maturity in the not too distant future. But barring a substantial increase in the value of my deals, I’m not confident that it will bolster the bottom line that much.

  Aleph did indeed come out in May, and that was great, though it ended up looking kind of different to my previous releases: no launch events, no book signings, and no cons to attend made it a mostly solitary affair. I did, however, dip a toe into self-publishing by putting out ebooks of two Galactic Cold War short stories, which was a fascinating experiment, though not particularly a profitable one.4

  In better news, I did manage to pull in some royalty payments from The Caledonian Gambit and The Bayern Agenda, which have both earned out their advances, and I’m hopeful that Aleph will follow suit. But I didn’t realize any revenue from new deals in 2020, which is the big reason that the fiction percentage went down this year, to pre-2019 numbers.

  As ever, the most important takeaway from being a freelancer is that your income is generally not predictable. Here’s what that looks like for me over the last several years.

  

  What I said last year largely holds true: I’m very privileged to be in a position where I can deal with the ups and downs of freelancing. My income remains diversified, I still have savings, and my partner’s job remains stable—or at least, as stable as anything can be in the time of COVID. One silver lining to the pandemic: my business expenses were way down, thanks to a lack of any travel whatsoever, which will likely continue to be a theme for the first two-thirds of 2021, at least.5

  Heck, in the middle of this, we were able to actually buy a house, which was an exciting and terrifying adult-like decision.6

  But 2021 is a big question mark right now. We’re still deep in this pandemic for the better part of the year, probably, and even after that, some of the effects are likely to linger. Book sales have tended to be up, but as my own agency pointed out on Twitter, the impact is not necessarily evenly distributed.

  I’m choosing to remain hopeful for 2021. I’ve got a few projects that I’m hoping might finally get off the ground, and I’m looking for new opportunities as well. We’ll see how the year goes! Just remember: be good to one another.

  ---

  1. I’ve also in the past linked to similar posts from writers Kameron Hurley and John Scalzi, though I haven’t seen any from them this year; if I do, I’ll update this post with links. If you see similar posts from others, please let me know, I’ll add them too!↩

  2. Exact figures left as an exercise for the reader.↩

  3. I’m now writing one fewer a month, at their behest, with a commensurate drop in income, but I’m happy to still have the income.↩

  4. The long and short of it was that though they were mostly free, Amazon doesn’t let you make ebooks free by default. Instead, you have to request a price-match once you’ve listed books as free on other stores. And you have to do it for each region you’re selling in. As a result, some of those places fell through the gaps and the stories were listed on those local Amazon stores as 99 cents, which pays out a royalty of roughly 35 cents a sale, and I don’t mind telling you that I made just under $40. So lesson learned: next time, maybe I charge a dollar.↩

  5. Healthcare costs were down too, thanks to finally getting on my partner’s insurance after being on an individual plan for many, many years.↩

  6. Of course, we don’t yet live in said house, thanks to the pandemic spurring a glut of home improvement, meaning we’re going to be waiting a while to do our renovations. But we are very fortunate to be able to continue living in our apartment while that happens.↩

• My writing finances, 2019

  Posted on

  Jan 6, 2020

  in

  Business, Writing

  So, I guess this is a tradition now!

  As 2019 draws to a close, it’s once again time to take a peek at my—dare I say, “burgeoning”?—writing career and see how it’s fared over the last year. As I’ve written before, I’m fascinated by the daily realities of writing, especially when it comes to money.1 Finances aren’t something that everybody feels comfortable talking about, but I’m a firm believer that sharing information helps writers—whom big companies often have a vested interest in keeping in the dark—understand the weird business of publishing even better.

  Before we dive in, let me stress one important point: this is my career and my career only. Talk to another writer and their experience will be totally different. Such are the vagaries of publishing. Don’t try to extrapolate too much about someone else’s career—or, frankly, your own—from mine.

  So, it’s been a little more than five years since I was laid off from my last full-time job, and my freelance career has continued more or less stably since then, divided between tech writing, podcasting, and fiction writing. Here’s a look at the breakdown in my income for 2019.

  

  As in past years, I’m not going to share exact dollar amounts, but I will say that my gross income this year was within 2 percent of my gross income from last year, which, as I said then, was well under six figures.

  A few things to take away from this. Last year was the first year I made more money from podcasts than from tech writing. While some of that is because I have a couple shows with very strong ad support—in particular, Clockwise—and several shows that have some degree of member support, a large part of it is reflective of where I put my energy in 2019. Other than my recurring gigs writing my weekly column for Macworld and blogging for Six Colors, I took on very few additional freelance tech assignments.2

  But the big news here is fiction writing, which continues its upward trend. Last year, it made up 5 percent of my income—this year that more than doubled. Put another way: my income from fiction in 2019 exceeded all my previous income from fiction (2016-2018) put together.

  I’m not going to lie: it’s hella gratifying. I’d love for that trend line to continue upward, but this was in large part bolstered by the fact that we retained the audio rights for both the books I wrote for Angry Robot and the deal with Audible for the audiobook adaptations closed in January of last year. That’s in addition to advances for both The Bayern Agenda and The Aleph Extraction, which are paid out in parts when certain milestones are hit (i.e. manuscript delivery, book publication, etc.). There is also some royalty income in there for The Caledonian Gambit, which is a nice little bonus, though it’s not exactly “hang it all up and live on residuals” kind of money.3 So, while it’s great that 11 percent of my income came from fiction, it necessarily follow that 89 percent didn’t.

  As I’ve said in the past, my goal is to continue increasing the chunk of my income that comes from fiction writing, and I’m glad that I’ve been able to sustain that this year. But can I keep that trajectory going in 2020?

  Well, here’s the thing about this line of work: stable it ain’t. The only certainty is, in fact, instability.4 Going into this year, I have The Aleph Extraction coming out in May, and…that’s it. Currently, I’ve got no other books under contract, though I’m hoping one or two other projects might hit maturity in the not too distant future. But barring a substantial increase in the value of my deals, I’m not confident that it will bolster the bottom line that much.

  Let me illustrate this point. With five years of freelancing under my belt, I have a little bit of data to work with, and what that data can tell me is, again, volatility. Here, for example, are the changes in my gross income for the last four years.

  Year	Change from Previous
  2015	N/A
  2016	-10%
  2017	50%
  2018	-19%
  2019	2%

  All. Over. The. Place. Frankly, Mr. Toad might think this ride too wild.

  From the viewpoint of January 2020, figuring out whether this is going to be an up-50% or a down-20% kind of year is impossible. And, again, I’m privileged to be in a position where I can weather the down years, thanks to diverse sources of income, savings I’ve socked away, a stable living situation, and a partner with a steady job.5

  Anyway, thanks for reading along: I hope at least some of you found this perspective of one working writer illuminating. Again, let me disclaim that I’m an N of 1 and every writer is in a different situation. Check out posts from folks like Jim C. Hines, Kameron Hurley, and John Scalzi for different perspectives6. And hey, if you’ve got any broad questions, drop me a line or hit me up on Twitter. I’m always happy to talk about these things, because as I said before: the more information that’s out there, the more empowered all writers are. I appreciate all of your support over the past five years, and let’s all stick together in 2020, huh?

  ---

  1. And, I realize, I’m very lucky to be in a position where I can afford to be fascinated, instead of worrying where my next rent payment is going to come from.↩

  2. Looking at my records, it was literally two pieces I wrote for Tom’s Guide.↩

  3. I’ve only had one royalty statement for *Bayern* so far, and it takes a least a couple before you get an idea of just how well the book is doing.↩

  4. And taxes.↩

  5. Then again, if the current occupant of 1600 Pennsylvania has his maniacal way, who knows what kind of fuckery we might all be in for.↩

  6. If you see other posts along these lines, let me know!↩

• My writing finances, 2018

  Posted on

  Jan 24, 2019

  in

  Business, Writing

  Writing is big business, right?

  I’m always interested when writers like John Scalzi, Jim C. Hines, and Kameron Hurley talk about the economics of the writing business. I’m certainly not at the same place in my career as any of them, but maybe somebody out there is interested in what the finances of someone just starting out in fiction writing—but who’s also spent the last four years as a professional freelance writer and podcaster—look like. And, well, the only numbers I have at my disposal are my own.

  As a freelancer, I have to keep a close eye on my finances as it is, because nobody else is going to do it for me.1 So since I already have those numbers, I thought I’d share this chart:

  

  Yep, that’s my income breakdown from 2018. I’m not going to break out dollar figures here, as that’s just something I’m not comfortable with right now, but to put this overall chart in context, my gross income does not reach six figures.

  This marks the first time I’ve made more from podcasts—which includes ad revenue from Clockwise and The Rebound, as well as memberships fees for Clockwise and my various Incomparable shows—than from tech writing, which is a fascinating swing for me, even though my overall income was still split evenly between writing and podcasting.2 In large part, that change is because I took on fewer tech writing gigs this past year, but also because podcasts have been doing well recently. I certainly hope that trend continues.

  Fiction writing also made up the biggest percentage to date of my writing income, in part because last year I signed a two-book contract with Angry Robot, as well as seeing the first royalties from The Caledonian Gambit, which was published in 2017. Comparatively, fiction writing made up 2 percent of my income in both 2017 and 2016. In raw terms, I netted just slightly more from fiction writing in 2018 than I made in 2017 and 2016 put together.

  I’ll take that as a pretty good trend, and while obviously I can’t insure that it continues in that direction, my goal has always been to slowly increase the percentage of my overall income that fiction writing brings in. But fear not, I’m not about to stop writing about technology or shutter my podcasts; they’re still bringing in the lion’s share of my income and, besides the fact that it would be economically foolish of me to toss them aside, I really enjoy those parts of my work and am extremely gratified that I can make a reasonable living off them.

  As for 2019, I’ve already got a couple things lined up on the publishing front that I’m excited about, and I hope to develop more as the year continues.

  ---

  1. Without me paying them to do it, that is, which isn’t something I can afford at present.↩

  2. The miscellaneous income, if you’re curious, is mainly a tiny bit of Amazon affiliate revenue, and sales of my t-shirts and pins at the Cotton Bureau.↩