tag:blogger.com,1999:blog-11291165.post116051783529858696..comments2024-03-28T02:00:11.260-05:00Comments on A Newbie's Guide to Publishing: RoyaltiesJA Konrathhttp://www.blogger.com/profile/08778324558755151986noreply@blogger.comBlogger32125tag:blogger.com,1999:blog-11291165.post-1161795376071691632006-10-25T11:56:00.000-05:002006-10-25T11:56:00.000-05:00You all seem knowledgable in the Author business. ...You all seem knowledgable in the Author business. I've been searching everywhere high and low and know next to nothing about being published. I hope you don't mind me asking you all a few questions. <BR/>1. Do you need a literary agent?<BR/>2 Best publishers for Sci-Fi Fantasy?<BR/>3. This basketing you speak of, is this something that is standard in a contract? My first book is that, a first book of a series I'm writing and would have no problem with that unless of course I felt that after book one was published book two might be better off going to a different publisher, depending on how the first does me?<BR/>4. I note that several of you are published. How many books must you sell to cover that advance? Are we talking thousands of books?<BR/><BR/>And I must say this is about the best page I have found that was mature about the author/publishing business. Many of the other pages I have read were nothing but publisher bashing and I was beginning to shy from it. I know there has to be a publisher out there worth an Author's time.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1161139503118780472006-10-17T21:45:00.000-05:002006-10-17T21:45:00.000-05:00What about Amazon? Are you getting royalities if I...What about Amazon? Are you getting royalities if I purchase your backlist [and I did all hardcover] via Amazon?<BR/><BR/>Glad I found your books btw :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1161009800572093302006-10-16T09:43:00.000-05:002006-10-16T09:43:00.000-05:00I'd say it depends mainly on 2 factors:1) The size...I'd say it depends mainly on 2 factors:<BR/><BR/>1) The size of the publisher's investment<BR/><BR/>2) The relationship between the author and publisher<BR/><BR/>In regards to number one, a publisher is much more likely to pull the plug--or decline to offer future contracts--if they had a huge stake in the first one which didn't pan out. (i.e. if we spent all that money promoting the book and it STILL didn't work, it's hopeless). If the publisher has a modest advance at stake and truly believes the author can grow, they might offer another contract for that reason (though they might make an offer at the same--or even lower--level).<BR/><BR/>As for number two, an author whose career is on the edge has a MUCH better chance of getting another contract if he/she has a good relationship with the publisher. If the publisher isn't sure about offering another contract, a "prickly" author--one who is disrespectful, doesn't work hard, and constantly misses deadlines--will make the decision to decline easy.<BR/><BR/>If, in the same scenario, there's an author who's courteous, grateful, works hard (in both promotion and on the books), and gets good reviews, the publisher will be much more apt to try and give the author another shot.Jason Pinterhttps://www.blogger.com/profile/12453031566914553124noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160857063738386392006-10-14T15:17:00.000-05:002006-10-14T15:17:00.000-05:00"Earning Out=Good, Not Earning Out=Bad." I agree. ..."Earning Out=Good, Not Earning Out=Bad." <BR/><BR/>I agree. So instead let's say:<BR/><BR/>"Making Profit=Good, Not Making Profit=Bad."<BR/><BR/>Or is it okay for a publisher to take a bath on your book?<BR/><BR/>It's one thing if you're Stephen King, and the backlist profits can support a huge advance that might never earn out.<BR/><BR/>It's another thing if you're midlist.<BR/><BR/>Jason, I'm sure you've had texperience with books that don't make a profit. How long to publishers support these authors before calling it quits?JA Konrathhttps://www.blogger.com/profile/08778324558755151986noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160856635312799922006-10-14T15:10:00.000-05:002006-10-14T15:10:00.000-05:00I understand what Joe is saying, but the simple fa...I understand what Joe is saying, but the simple fact is that publishers DO NOT need authors to earn out their advances to make a profit. All that happens when an author earns out is that the publisher makes MORE of a profit (it's not like some light comes on and a new contract pops out).<BR/><BR/>It's not a yes/no equation when it comes to earning out. Most major bestselling authors NEVER earn out their advances. Yet publishers are more than happy to pay the big bucks because they make so much money they don't need the authors to earn out. <BR/><BR/>When you're at a level, sales-wise, I can see why you want your publisher to be happy. But it's a lot more complicated than "Earning Out=Good, Not Earning Out=Bad."Jason Pinterhttps://www.blogger.com/profile/12453031566914553124noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160855623770165872006-10-14T14:53:00.000-05:002006-10-14T14:53:00.000-05:00If you earn out your advance, it doesn't matter if...If you earn out your advance, it doesn't matter if the books were basketed or not.<BR/><BR/>If you don't earn out your advance, your advance was too big. Your publisher losing money on your book(s) isn't good for them, or for you. <BR/><BR/>The 'get as much money as you can and let the publisher shoulder the financial burden' mentality is just as responsible for the screwed up state of publishing as the points that have been mentioned in this thread.<BR/><BR/>It isn't the publisher's responsibilty to make sure you earn a decent living. It's the publisher's responsibilty to make a profit. Because if they don't, then they're no longer in business.JA Konrathhttps://www.blogger.com/profile/08778324558755151986noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160811875772598942006-10-14T02:44:00.000-05:002006-10-14T02:44:00.000-05:00Thanks for sharing your recent experience in this ...Thanks for sharing your recent experience in this area, Allison. Three full length novels in a year would take up a lot of one's time, let alone leaving time for "life" stuff. <BR/><BR/>I wish there was a magic "success" formula, but the key does seem to be consistently producing good books. Now, if I only wrote faster! :)Patrice Michellehttps://www.blogger.com/profile/12061901112336162568noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160806208917499352006-10-14T01:10:00.000-05:002006-10-14T01:10:00.000-05:00Patrice, the single most important thing you need ...Patrice, the single most important thing you need to do IS write the good book.<BR/><BR/>I had a conversation with my agent a few weeks ago. I told her I really didn't have time for a lot of promotion, so I was thinking about doing one high-dollar item where other people would be doing the work, because my time is better spent writing more books. For me, putting out three books a year IS promotion. The more books on the shelf the larger the backlist (and Joe is right--your current release sells your backlist). But I can't write three (or four) books a year and spend a lot of time doing book tours and speaking engagements and conferences. I'm doing what I can as long as it doesn't interfere too much with my writing schedule.<BR/><BR/>Write the good book. Then write a better book. And so on. That does matter. Yes, you need to be aware of promotion and what you can and can't do. But anytime promotion interferes with writing, you need to really think twice about doing it. I recently turned down a promotional opportunity because it was a time hog, even though it was practically free.Allison Brennanhttps://www.blogger.com/profile/02872860080644987843noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160804412622969132006-10-14T00:40:00.000-05:002006-10-14T00:40:00.000-05:00What an interesting back and forth conversation. T...What an interesting back and forth conversation. Thanks so much for bring it up. I think people have valid arguments on both sides, depending on their situations. Ah, the days when we naively thought all we had to do what write a good book! :)Patrice Michellehttps://www.blogger.com/profile/12061901112336162568noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160747635691573822006-10-13T08:53:00.000-05:002006-10-13T08:53:00.000-05:00Gosh, I never knew ANY of this! It's fascinating ...Gosh, I never knew ANY of this! It's fascinating to learn the ins and outs behind the scenes - so many things that a writer never considers when they first start penning their masterpiece.<BR/><BR/>I appreciate the diversity of opinion as well!<BR/><BR/>If you can get a camera crew to follow you around, we could put it on YouTube and add it to the <A HREF="http://www.squidoo.com/booksquid/" REL="nofollow">Book Squid Lens</A>! It's getting a lot of traffic - I hope that is helping sales! Someone even bought a Rusty Nail coffee mug!<BR/><BR/>Thank you for being so open and allowing this kind of discussion!<BR/><BR/>Happy Friday the 13th!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160701185035668132006-10-12T19:59:00.000-05:002006-10-12T19:59:00.000-05:00My secret weapon in the royalty wars...ebooks. 35...My secret weapon in the royalty wars...ebooks. 35% or more of cover, payed monthly. No advances, but shorter lenghts accepted and short turnaround time to production.Toni Lea Andrewshttps://www.blogger.com/profile/05019145772583242781noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160696710319355862006-10-12T18:45:00.000-05:002006-10-12T18:45:00.000-05:00I dunno, Joe. I'm not entirely convinced that uber...I dunno, Joe. I'm not entirely convinced that uber-promo is the key to winning the publishing game. Now, don't get me wrong; clearly it's working for you personally and seemingly, your publisher is happy with it. <BR/><BR/>But.<BR/><BR/>I also see stories like Sara Gruen's where she did a very small tour this summer (like 20 cities) with independent bookstores and Water for Elephants is in its, I believe, 12th printing. In hardback. <BR/><BR/>Now that's some royalites and not royalties that she's had to immediately feed back into a promotions fund. I'm sure she spent *some* of her own money on that tour but I'm betting not as much as you and Barry spend on the mega-marathon tours you two undertake.<BR/><BR/>True, she had two paperback sales previously and did a small amount of touring with those so I could be talking out my ass. (Won't be the first time:).<BR/><BR/>I'm still thinking... it's the book, dudes. It's the book that sells, not just the authors.Vincent Diamondhttps://www.blogger.com/profile/17899942919478845412noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160677288531525442006-10-12T13:21:00.000-05:002006-10-12T13:21:00.000-05:00And if you look at NYT bestselling authors, most o...<I>And if you look at NYT bestselling authors, most of them tour. The do media interviews. They have big websites. They run their careers like a CEO runs a business, and very few have a hands-off policy.</I><BR/><BR/>Yes and no.<BR/><BR/>They do these things <I><B>because</I></B> they’re NYT BS Authors. I don’t think they <I><B>became</I></B> NYT BS Authors by doing these things. And as NYT BS Authors they’re not paying for their own tours, and someone else arranges all those interviews, etc. It’s like all those Hollywood stars who get the free designer downs, when in fact they’re among the few who could actually afford to pay for them. <BR/><BR/>Don’t get me wrong, I’m not saying that new authors shouldn’t do what they can to get their name out there, but as a debut author there’s no way I’m going to be able to compete with the machine that is Julia Quinn or Sabrina Jeffries.Kalen Hugheshttps://www.blogger.com/profile/14216420943081679978noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160668160619143292006-10-12T10:49:00.000-05:002006-10-12T10:49:00.000-05:00Oh, I wholeheartedly agree on a lot of your argume...Oh, I wholeheartedly agree on a lot of your arguments, Mr. Konrath. In fact, I applaud your 500-bookstore visits. Someone should've followed you around with a camera because I would've love to see it on Discovery channel. Maybe you can invite an indie documentary outfit to tag along next time?<BR/><BR/>And yes, I don't encourage anyone to wait for lightning out of the blue. The more bases you have covered, the higher your chances are of succeeding.<BR/><BR/>It also can't be denied that self-promotion does play an integral part in the success of the book, but that involves too much politics, too much beer and elbow rubbing for my taste. <BR/><BR/>I just feel that my time is better spent writing new books. For all I know, I might drop dead tomorrow and I'd totally hate it if I couldn't finish my next wonderful story because I was too busy promoting old stuff.<BR/><BR/>There are hundreds of publishers out there. People shouldn't be afraid of not getting another book contract. Authors should be obsessing about the quality of their books instead.<BR/><BR/>But that's just my opinion and two cents.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160666892932887912006-10-12T10:28:00.000-05:002006-10-12T10:28:00.000-05:00My DIAGNOSIS MURDER books are cross-collateralized...My DIAGNOSIS MURDER books are cross-collateralized and so are my MONKS. It's standard in multiple book tie-in deals and not something I had the leverage to exclude from my contract. I wish I could. It benefits the publisher and screws the writer. Which brings me to nit-picking one of your comments:<BR/><BR/>"I've said, from the very beginning of my career, that my goal is to make money for my publisher.<BR/><BR/>For my first two books, I'm doing just that. It will be interesting to see where it takes me."<BR/><BR/>My goal is to make money for *me.* Obviously, that means making money for my publisher, too. But enriching my publisher and enriching myself should go hand-in-hand. That doesn't happen in cross-collaterization deals or when you spend your advances...and then some...on promotion. It might pay-off in the long run, but if you want to make a living as a writer, it's a delicate balance. <BR/><BR/>If you're making a living as a writer, advances and royalties (or script fees and residuals in TV) are how you pay the bills. If you spend your advance on promotion, and your royalties are caught up in cross collaterization, you are succeeding in making money for the publisher...and screwing yourself.<BR/><BR/>I am not saying this is the case with you, and I certainly think self-promotion is important, but I think it's a mistake for newbie writers to necessarily follow your example (unless they have a lucrative day job).Lee Goldberghttps://www.blogger.com/profile/13442268370192897461noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160665436539186542006-10-12T10:03:00.000-05:002006-10-12T10:03:00.000-05:00Interesting all around. Ms. Bonkler, I'm with Joe ...Interesting all around. Ms. Bonkler, I'm with Joe here. I wondered how much more you would have sold if you had done some promotion. But we'll never know, right?<BR/><BR/>And Joe, I think your comment on the casino hedging is a bit of a double-edged sword when talking about joint accounting.<BR/><BR/>I understand why publishers want it and I understand why writers don't. And it does remind me of the movie industry's accounting practices. When I recently sold French language rights, my wife was asking about the check, and I had to explain all the possible variations on that bit of business, that we had a 50/50 split, that it's not clear if my publisher's foreign rights person was going through another agent who would get a cut of that, and how much, and how it would go toward paying back the advance..<BR/><BR/>And anybody out there, don't tell me we should have held those rights. Like I mentioned earlier, contracts are fluid and everything's negotiable, and publishers and agents dig in on different things for different reasons. I'm aware of this.<BR/><BR/>My point is that basketing protects the publisher, which is fine, but somewhat at the expense of the writer. Writers (at least I do) have bills to pay and overhead as well, and although you can certainly say the publisher is taking the financial risk of paying to have the book published, my risk is also financial as well, although I didn't pony up money, I ponied up time and expertise, both of which have a price tag.<BR/><BR/>Best,<BR/>Mark Terry<BR/>www.markterrybooks.comMark Terryhttps://www.blogger.com/profile/09410424046477699059noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160664513668150262006-10-12T09:48:00.000-05:002006-10-12T09:48:00.000-05:00One of the things I like about this blog is the di...One of the things I like about this blog is the differences of opinion. Everybody wins when alternate sides are respresented.<BR/><BR/>Mrs. Bonkler, you bring up an interesting point, not just concerning publishing but concerning life.<BR/><BR/>People tend to believe what works for them will work for someone else.<BR/><BR/>Sometimes it will. Sometimes it won't. That's why it is important to learn as much as possible, try different things, and come to your own conclusions.<BR/><BR/>Do books become hits without the author doing any promotion? Of course.<BR/><BR/>Conversely, authors who do a lot of promotion may never have a hit.<BR/><BR/>But the fact is, the more promotion you do, the more books you'll sell. Period. I'm happy you've had some success. I wonder how much more success you might have had if you'd done more self-promotional.<BR/><BR/>You can walk through a minefield and live, but that should not be an endorsement that it's okay to walk through minefields.<BR/><BR/>And if you look at NYT bestselling authors, most of them tour. The do media interviews. They have big websites.They run their careers like a CEO runs a business, and very few have a hands-off policy.<BR/><BR/>Sure you can get lucky. The odds say you won't. And relying on luck is a poor way to run a career.<BR/><BR/>Luck does play a factor, but the harder you work, the luckier you get, whatever your job.JA Konrathhttps://www.blogger.com/profile/08778324558755151986noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160642205666513562006-10-12T03:36:00.000-05:002006-10-12T03:36:00.000-05:00"For some reason, some authors feel that the hard ..."For some reason, some authors feel that the hard work ends once they sell a book. In reality, that's where hard work begins."<BR/><BR/>I'm sorry but I don't really completely believe in this. Althought I believe that it's good practice and sage advice to cover as much of the variables as possible, I still believe that the success of the book depends on a lot of other factors that are out of the author's hands.<BR/><BR/>I'm a first time unknown author myself and my first book came out a couple of years ago. <BR/><BR/>The interesting thing is that I didn't attend my own booklaunching. I never promoted the book myself nor did any tour. In fact, I didn't even attend the awarding ceremony when my book won an award. <BR/><BR/>And yet my book has earned out its advance already and I'm now reaping royalties from it. My publisher has also started reprinting my book. <BR/><BR/>I suppose I'm just an isolated case or maybe just a fluke of nature but my case sorta validates the possibility that you can do nothing and still make it happen. (I don't recommend it though)<BR/><BR/>Anyway, as far as basketing payments, I believe that royalties should be forwarded to the author as soon as possible. Hey, I don't know about you guys but I have bills to pay and my bank won't wait until my other book has earned its advance.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160634019907043692006-10-12T01:20:00.000-05:002006-10-12T01:20:00.000-05:00Joe, I'm with Jason on this one. While I don't thi...Joe, I'm with Jason on this one. While I don't think basket accounting is "evil", I don't think it matters whether or not an author gets another contract whether the first contract is basketed or not. <BR/><BR/>Authors take a lot of risk. We risk our day jobs because we don't take work home with us (because we're writing); we risk our dream job (writing) because we need to work during the day to pay the bills. It's a risky business. I'm not adverse to publishers making a profit--I WANT them to make a profit on my books because they're more likely to keep signing me to contracts with better terms. But at the same time, basket accounting is like smoke and mirrors in government budgets. It's deferring until later payments that are due now. And all it really hurts is the author.<BR/><BR/>But, again, there are some situations where it's not as bad as others.Allison Brennanhttps://www.blogger.com/profile/02872860080644987843noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160622622236627342006-10-11T22:10:00.000-05:002006-10-11T22:10:00.000-05:00Jason, I've been told by several sources that a bo...Jason, I've been told by several sources that a book doesn't need to earn out its advance to be profitable, but earning out is a good indicator a book is profitable.<BR/><BR/>When you play blackjack, and the dealer has an ace showing, the house offers you insurance--a side bet on the chance that the dealer has 21.<BR/><BR/>Basketing can help prevent a publisher from losing more money than necessary. And when the accounting deptartment does the P and L, royalties from one book that help defer the loss of another book may not average out the numbers of each book, but those numbers do count. <BR/><BR/>If book #1 does well, and book #2 flops, I contend that an author might have a better shot at getting book #3 published at the house if the monetary loss for book #2 is offset by royalties from book #1. <BR/><BR/>Basketed royalty statements are cumulative, and the advance still owed or the royalties paid out is a single figure, not broken up book to book.<BR/><BR/>Isn't having a contract earn out as important as having each individual book earn out? And doesn't basketing allow contracts to earn out that might not have if it hadn't been for the joint accounting?<BR/><BR/>Couldn't basketing be the difference between a profitable contract and a loss for the publisher? <BR/><BR/>Keep in mind that my new contract isn't basketed--we made sure of that. I know it isn't the best deal from the author's standpoint. <BR/><BR/>But I don't think it's the evil that many authors believe it is. I see no problem with the author sharing some of the risk. And I believe (perhaps naively) that a publisher who makes more money will be more succeptible to a new contract than one who makes less money.<BR/><BR/>Anneliese--you're correct. Right brained artists don't really understand publishing is a business. Anyone in any profession has to work hard. For some reason, some authors feel that the hard work ends once they sell a book. In reality, that's where hard work begins.JA Konrathhttps://www.blogger.com/profile/08778324558755151986noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160620499759790882006-10-11T21:34:00.000-05:002006-10-11T21:34:00.000-05:00People talk the hard facts of making money or not ...People talk the hard facts of making money or not in getting a book published. First, there is the extreme rarity that one will get published, then there is the rarity that one's book will sell, now, with what you posted above, suppose it sells, but is it going to sell enough?<BR/><BR/>How does book selling differ so much from any other industry?<BR/><BR/>My day job is at a biopharm start-up and the amount of hours worked and efforts made at having supportive clinical trial data is staggering! We've been at this, as a forty person company, for six years now and even if the data proves we have a great product, there will still be lots more hours to be worked.<BR/><BR/>Compare this to an author spending two to four to eight years on writing a book that may or may not get published, may or may not sell, may or may not obtain royalties. Lots of hours worked by one person on their product.<BR/><BR/>It's not so different right? Then why do so many people in publishing constantly repeat warnings about the industry, when it seems that every industry has its risk?<BR/><BR/>Are the warnings being said because the book industry seems to attract more head-in-the-clouds type of people with big stardom expectations?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160609030479873142006-10-11T18:23:00.000-05:002006-10-11T18:23:00.000-05:00You're so right. It's not just the writing. I wa...You're so right. It's not just the writing. I was wandering through Borders yesterday, and was appalled at how many authors no longer have books on the shelves. Names that were big only five or so years ago. All gone.<BR/><BR/>Man, it's a hard business.Spy Scribblerhttps://www.blogger.com/profile/14299551957327543491noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160608246671723282006-10-11T18:10:00.000-05:002006-10-11T18:10:00.000-05:00Joe, you're assuming the publisher in that last sc...Joe, you're assuming the publisher in that last scenario looks at the cumulative effect of both books. What publishers like to see, just as much as steady sales, is an increase in sales from book to book. <BR/><BR/>Publishers would not say "Book 1 scored a two, Book 2 scored a 6, the combined tally is 8, with an average of four. No new contract."<BR/><BR/>Even if book 1 doesn't earn out, if book 2 shows marked improvement it shows the publisher people are responding to the books. No publisher in the world would want to lose an author in the upswing of his/her career, and I guarantee you that, come contract time, if book 1 does not earn out and book 2 does and begins earning royalties, the author can look forward to another contract.<BR/><BR/>Plus it's imperative to keep in mind that authors DO NOT have to earn out in order to make their publishers a profit, and a nice one at that. Earning out will get you a good raise on your next deal, but it's not the be all end all.Jason Pinterhttps://www.blogger.com/profile/12453031566914553124noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160607828060090622006-10-11T18:03:00.000-05:002006-10-11T18:03:00.000-05:00Basket clause for two book deal. Both books do wel...Basket clause for two book deal. Both books do well. Publisher mankes money. Author makes money.<BR/><BR/>No basket clause for two book deal. Both books do well. Publisher makes money. Author makes money.<BR/><BR/>Basket clause for two book deal. One book does well. One flops. Author breaks even. Publisher breaks even.<BR/><BR/>No basket clause for two book deal. One book does well. One flops. Author makes money. Publisher loses money.<BR/><BR/>Which scenarios will get you another contract?JA Konrathhttps://www.blogger.com/profile/08778324558755151986noreply@blogger.comtag:blogger.com,1999:blog-11291165.post-1160606460954334042006-10-11T17:41:00.000-05:002006-10-11T17:41:00.000-05:00Joe, just throwing in my opinion--you're right sel...Joe, just throwing in my opinion--you're right selling books is a partnership--however, you aren't getting a 50/50 split. Thus, not basketing is just one little benefit you fight for. They fight to give you a smaller percentage. They take on the financial risk...give and take.Mariahttps://www.blogger.com/profile/11234907275906877802noreply@blogger.com