I don't think that's right. It's just too good. Imagine that you are an author and maybe you pay one line editor and get beta-readers for free, maybe you do your own cover, and you don't print a large batch of your book and because you are the author, you can't pay yourself an advance. That kind of resourcefulness that a trad publisher can't afford would allow that same 35/100, maybe a little higher, or maybe a little lower, depending on how you do with self-promotion. Still, it means that if you are not a terrible writer, or one who consistently writes stuff nobody wants to read, you will make money with one book out of three. Which I think is too good.
I'm pretty sure that means 35% of books covered their advance (ie. authors actually started getting paid royalties). I think it is still about $1 per full price paperback (physical or ebook).
I don't think that's right. It's just too good. Imagine that you are an author and maybe you pay one line editor and get beta-readers for free, maybe you do your own cover, and you don't print a large batch of your book and because you are the author, you can't pay yourself an advance. That kind of resourcefulness that a trad publisher can't afford would allow that same 35/100, maybe a little higher, or maybe a little lower, depending on how you do with self-promotion. Still, it means that if you are not a terrible writer, or one who consistently writes stuff nobody wants to read, you will make money with one book out of three. Which I think is too good.