Showing posts with label royalties. Show all posts
Showing posts with label royalties. Show all posts

25 March 2017

Advances and Royalties and Agents, oh my! A Primer on Traditional Publishing


by Melodie Campbell (Bad Girl, who is being especially good today)

Many here know I teach Crafting a Novel at Sheridan College in Toronto.  In weeks 13 and 14 of the course, we talk about the business of publishing.  I’ve prepared the following primer on traditional publishing to bring new authors up to speed on the basics, and thought it might be of interest to readers here.  (Insert caveat here: this is a general primer. Your deal or experience may be different.)

Advance:

…is just that.  It is an advance against the royalties the publisher expects you to earn.

If your book cover price is $10, and your royalties are 10%, then you can expect to make $1 per book sold at that cover price.  (Often, your publisher may sell for less when in bulk. And when that happens, you make 10% of the amount the book sold for, so a lot less.)

So…if you receive an advance of $5000 (which would be considered a nice advance in Canada from a traditional publisher) then you would have to sell 5001 books before you would start seeing royalties.  (At least.  It may be more like 7500, if they’ve sold some of your books below cover.)
In Canada, royalties are supposed to be distributed quarterly, according to standards set by TWUC (The Writers’ Union of Canada).  But this standard is not law; often, publishers ignore these guidelines and pay royalties semi-annually. 

Royalty Example:  Melodie sells 1200 copies of Rowena Through the Wall from Oct. 2015 to Dec. 2015.  She has already ‘sold through’ her advance in previous quarters (see below for an explanation of sell through.) The royalties on these sales will appear on the March 15 royalty statement.  So in fact, for a book sold Oct. 1, she won’t see her $1.50 until March 15, nearly 6 months later.  And that’s with the best kind of publisher.

Sell Through:

This is the term to describe if you have ‘made up’ your advance.  If, in the top example (advance of $5000,) your book has sold 5001 copies, you have ‘sold through’ your advance.

This is a key event in the life of your book, and a critical thing for your book to achieve.  If your book doesn’t sell through, then you are unlikely to get a new book contract from that publisher.

You can see why a large advance comes with stress.  The smaller your advance, the easier it is to sell through. 

(Even if you don’t sell through, you keep the full amount of the advance.)

Agents:

An agent handles the business side of your writing (contracts, etc.)  Agents typically take 15% of your income. 

So, if you got an advance of $1000 (a not unusual advance for a first book in Canada) an agent would take $150 of your advance.  Now you can see why it is so hard to get an agent.  They don’t want $150 for all their work – they want $1500 or more!  So until you are getting advances of $10,000, it is hard to get an agent.

Why you would want an agent:

Agents get you in the door at the big 5 publishing houses.  Most of the big publishers will only take query letters from agents.  If you are a published author already with a house, the main reason you would want an agent is to ‘trade up.’  i.e. – move from a smaller publisher to Penguin. 

Time from sale to bookstore with a traditional publisher:   
Usually 12 months to 18 months.  15 months is typical.

Deadlines: 

Miss your deadline with a traditional publisher, and you are toast.  This means deadlines for getting back on publisher edits too.  Production time in factories is booked long in advance.  If your book isn’t ready to go on the line in its slotted time, then your publisher loses money.  Say goodbye to your next sale.

Print on demand publishers: 

Some smaller traditional publishers have let go of production runs and are now using print on demand technology via Createspace.  Usually this means shorter time from sale to bookstore.  (i.e. a book sold to a publisher in March might be for sale by June.)

How bookstores work:

Bookstores typically buy books from the publisher or distributor at 60% of cover.  So the bookstore makes 40% (less shipping costs).  Usually the shipping costs are born by the retailer, but sometimes publishers will have specials.

BUT – if a book doesn’t sell, the retailer can rip off the cover, send the cover back to the publisher and get a full refund for the book.  The coverless books are then destroyed.  (Yes, it’s appalling.  It all has to do with shipping costs.  Not worth it to ship books back.)

Problem – this doesn’t work with print on demand books.  You can’t return anything to Createspace.  So retailers are reluctant to stock books that are not from traditional publishers using the traditional print-run method, because they can't return books that don't sell.

How long is your book on a shelf:

In a store like Chapters (the Canadian big-box equivalent of Barnes & Noble), if your book doesn’t sell in 45 days, they usually remove it.  Gone forever from the shelves, unless you become a NYT bestseller in the future, and they bring back your backlist.  Yes, this is unbelievably short.  It used to be 6 months.  The book business is brutal. 

I think the third word in that last line is the key.  The book business is a business.  It’s there to make a profit for shareholders.  We are in love with our products, so we find that hard to face.  I saw a study that said approximately 40% of writers are manic-depressive.

The rest of us just drink.

Melodie Campbell does her drinking in the Toronto area, where she writes funny books about a crime family.  Is it any wonder?  www.melodiecampbell.com

06 June 2015

Proper Care and Feeding of Authors – in which our writer tries to be serious for a few minutes…


by Melodie Campbell

Here’s part one of the series (reprinted with permission):

What NOT to ask an author… (especially a Crime Writer who knows at least twenty ways to kill you and not get caught)

There is nothing I love better than meeting readers, both those who already know my writing, and those who are new to my books. But recently, I was asked to talk about those things that are touchy for an author.  So here goes…a short list of No-Nos!

1.  Do not ask an author how many books she has sold.

Trust me, don’t ask this.
Really, you don’t want to.  It wouldn’t help you anyway.
Because honestly, I’ll lie.

I’m amazed that complete strangers regularly ask this.  Would you ask a lawyer how much money he makes?

Because here’s the bottom line: most of us with traditional publishers make about a buck for every book sold, whether paperback, trade paperback or ebook.  Sometimes, it’s less than that.  (Yes, we were shocked too, when we found out.)  So by asking how many books we’ve sold, you can pretty well figure out our income.  And frankly, I don’t want you to.  You see, I write comedies, and it would depress both of us.

Also:  our royalty statements are at least six months behind (at least mine are.)  We don’t KNOW how many books we’ve sold to date on new releases.  Which is probably a good thing for our egos, if we want to keep writing.

Dare I say it?  The supreme irony is: the only ones likely to make a living in the writing biz are those on the business end.  The agents, and those editors and others employed by publishers, booksellers and libraries.  Sadly, you can't expect to make a living in the arts if you are a creator.

2.  Do not ask an author to read your manuscript and critique it for free.

So many times, I’ve been asked to do this, in a public place, with people overhearing.  Sometimes, by people who don’t even have the decency to buy a single book of mine first. 

Why this is bad:

First: I am in a place that has been booked for me to sell my books and meet with readers. That’s what I’m there for.  You are taking precious time away from me and my readers.  Believe me, my publisher won’t be happy about this.  Ditto, the bookseller!

Second: Every hour I spend critiquing an aspiring author’s book is an hour I can’t spend working on my own books and marketing them.  Like most novelists, I have a day job.  That means every hour I have to work on my fiction is precious.  Most of us do critique – for a fee.  And many of us teach fiction writing at colleges. 

I’m happy to critique my college students’ work.  I’m getting paid (mind you, meagerly) to do so.  And that’s what I always recommend:  take a college course in writing.  You’ll get great info on how to become a better writer, and also valuable critiquing of your own work.

3.  Do not ask an author to introduce you to her publisher or agent.

Want to see me cringe?

Similar to number 2 above, this puts the author in a very awkward position.  You are in fact asking for an endorsement.  If the author hasn’t read your book, she cannot possibly give it (an honest endorsement.)

Second: You are asking the author to put HER reputation on the line for you.  Do you have the sort of close relationship that makes this worthwhile for her?

4.  Do not ask an author: where do you get your ideas?

Okay, be honest.  You thought I was going to lead with this one.
Actually, you can ask me this.  I’ll probably answer something fun and ridiculous, like:
From Ebay. 
Or: From my magic idea jar.
Or: They come to me on the toilet.  You should spend more time there.

Because the truth is, we don’t know exactly.  After teaching over 1000 fiction writing students at Sheridan College, I have discovered something: some students are bubbling over with ideas.  Others – the ones who won’t make it – have to struggle for plots.  It seems to be a gift and a curse, to have the sort of brain that constantly makes up things.

I’ve been doing it since I was four.  My parents called it lying.  That was so short-sighted of them.



Opening to THE GODDAUGHTER’S REVENGE (Orca Books) winner of the 2014 Derringer (US) and Arthur Ellis (Canada)

    Okay, I admit it. I would rather be the proud possessor of a rare gemstone than a lakefront condo with parking. Yes, I know this makes me weird. Young women today are supposed to crave the security of owning their own home
     But I say this. Real estate, shmeel estate. You can’t hold an address in your hand. It doesn’t flash and sparkle with the intensity of a thousand night stars, or lure you away from the straight and narrow like a siren from some Greek odyssey.
     Let’s face it. Nobody has ever gone to jail for smuggling a one bedroom plus den out of the country.
     However, make that a 10-carat cyan blue topaz with a past as long as your arm, and I’d do almost anything to possess it.
    But don’t tell the police.
 
On Amazon

03 January 2015

Mess with me, Darlin'? Watch me Kill You with Words


(In which we attempt to address a serious subject in a light-hearted way)

by Melodie Campbell

Here’s some news for all you sociopaths out there, and just plain nasties: Don’t mess with a crime writer.  We know at least twenty ways to kill you and not get caught.

On paper, of course <insert nervous laughter>. We’re talking about fictional kills here.

Or are we?

My name is Melodie Campbell, and I write comic mob capers for a living. And for the loving. So I know a bit about the mob. Like espresso and cannoli, you might say they come with my Sicilian background.

This should make people nervous. (Hell, it makes ME nervous.)

But I digress. To recap:  the question offered here was:

Do you ever take out real life rage on fictional murder victims? Are any of your victims based on people who pissed you off in real life?

Oh sweetie, don’t I ever.

One of the joys of being a writer is playing out scenarios in your fiction that you dream about at night.  One of these is murder.  (The other is sex, but that would be my other series, the Rowena Through the Wall fantasy one.)

Back to grievous bodily harm. Like in Gilbert and Sullivan’s Mikado, I have my little list.

To the covert colleague who made out to be friends and then bad-mouthed me to the board at a previous job. 

Yes, you got caught red-handed. I called your bluff.  But better than that, I made your mealy-mouthed sorry hide a star of THE GODDAUGHTER’S REVENGE.  Goodbye, Carmine the rat.  You live forever in fictional history.

He never will be missed.

To the sociopathic boss who undermined an entire department and got a kick out of making my sweet younger colleague cry: may you age like a hag and end up alone.  Oh wait – you did. And not just in A PURSE TO DIE FOR.

She never will be missed.

Oh, the joy of creating bad guys and gals from real-life creeps!  The crafty thing is, when you design a villain based on people you have met in person and experienced in technicolor, they sound real. Colourful.  Their motivations are believable, because they actually exist. No cardboard characters here! 

Of course, I may fudge a few details to keep out of jail. Names and professions change. Males can morph into females.

But fictional murder can be very satisfying. (Definitely more satisfying than fictional sex. Oops.) 

Revenge is sweet, when coupled with royalties. 

You can ignore that crack about 'fictional kills only.' Of course we’re only talking books; in my case, light-hearted murder mysteries, and mob crime capers.

That’s right: mob capers. Like I said: never mess with a Sicilian Goddaughter.

Melodie Campbell achieved a personal best when Library Journal compared her to Janet Evanovich.  Her fifth novel, THE GODDAUGHTER’S REVENGE, won the Derringer and the Arthur Ellis.  www.melodiecampbell.com