author royalties

Things I Worry about Seeing #1

February 12, 2009 | by Pat Holt

A NEW KIND OF PARALYSIS?

I may end up posing quite a number of Things I’d Love to See in the publishing industry, but a recent email from an editor in New York points out what a tangled knot mainstream publishing has become — too tangled, it seems, to make any substantive changes.

The editor’s message responds to a recent column about publishers ending the tradition of publishing a book in hardcover first, then waiting a year for the trade paperback (if any). I proposed that publishers start with the cheaper but still beautiful trade paperback edition first. Especially for books by unknown or midlist authors, the already wasteful practice of publishing hardcovers seems senseless.

And now that money is short, readers are far more likely to take a chance on trade paperbacks; book reviewers who used to require hardcovers (honestly! I haven’t heard that one in 20 years) have been overtaken by bloggers who LOVE paperbacks; and since even publishers dismiss hardcovers as “promotional copies for the trade paperback,” my thought is: Just reverse the process. (more…)

Three Things I’d Like to See #1

November 23, 2008 | by Pat Holt

#1: ONLINE ROYALTY ACCOUNTS FOR AUTHORS

(Note: This seems like an obvious next step for the book industry, although publishers hit the roof when I’ve shown it to them, as you’ll see. — Pat)

If you were an author, wouldn’t it be great if your publisher gave you a password to your own royalty account?

This would be an online, frequently updated, always accessible, entirely confidential page on your publisher’s website that would replace the current system.

As frequently as you wish, you could check sales of your book, the rate of returns, the percentage taken out for reserves and varying royalty rates for bulk sales, special sales, premium sales, electronic sales, and so forth.

As it is now, most authors have to wait six months for a printed, snail-mailed royalty statement that’s filled with outdated information that’s mired in financial gobbledygook their own agents can’t decipher. (more…)