It baffles me how articles like this completely omit a whole realm of publishing: independent, or small publishers. I have had over twenty books published by the following publishers: Joffe Books, Bookouture, Inkubator. And I have made a living like this for almost ten years.

None of my publishers are subsidy publishers; I never pay a dime for anything. They pay for all editing, covers, marketing. 80% of sales are ebooks, probably 15% audio and 5% paperback, which are available as print on demand. If a book does really well, there is a chance of a paperback distribution deal. (Some small publishers may handle a deal like this in-house, others use literary and scouting agencies.) My books have been translated into other languages.

I think tech has confused people about why books get read. Marketing definitely matters; if no one knows your book exists, it doesn't matter how good it is. But word of mouth is still the most powerful marketing, so if your book is good, it can go far.

Write good books.