What are advances, royalties, payment milestones, and sales escalators? What are foreign translation rights and film/TV options? And how much commission do agents take?
Thank you for taking the time to so clearly explain this, Evelyn. As an indie author/publisher I find these conversations about the publishing industry so fascinating! And it's great to hear about it from a traditionally published author's point of view. I've been drinking my tea and soaking up all this info. I even ordered the book about the DOJ, Penguin Random House, and Simon and Schuster trial. I always feel empowered after learning more about the things I'm passionate about. :) I'm adding this post to my personal education file.
Outstanding Evelyn! Regarding agents, it is not well-known that agents collect from publishers, then give the author money due. I researched this, and people are saying to reject this formula. YOU get the money, then YOU pay the agent. How do you feel about this?
This was really great and really enlightening. You explained it so simply and made it understandable. Thank you.
I really appreciate how straight-forward this was! Thanks for laying it out for those of us who haven’t quite gotten there yet. :)
That was a great explanation of Book deals. Thank you for writing this Evelyn.
Thank you for taking the time to so clearly explain this, Evelyn. As an indie author/publisher I find these conversations about the publishing industry so fascinating! And it's great to hear about it from a traditionally published author's point of view. I've been drinking my tea and soaking up all this info. I even ordered the book about the DOJ, Penguin Random House, and Simon and Schuster trial. I always feel empowered after learning more about the things I'm passionate about. :) I'm adding this post to my personal education file.
Outstanding Evelyn! Regarding agents, it is not well-known that agents collect from publishers, then give the author money due. I researched this, and people are saying to reject this formula. YOU get the money, then YOU pay the agent. How do you feel about this?
Thanks for posting this, Evelyn! It’s really informative.