Tuesday, November 30, 2010

Book Advance Boohoo (or not)

Did you know that most authors don't make back their advances? According this article, ">href="http://www.nytimes.com/2009/04/12/books/review/Meyer-t.html"> in the New York Times, 7 out of ten of us never make a cent. Maybe I'm an optimist...OK, I admit it, I am...but that means 3 out of ten do make money, right? That's 3 of every ten people. I had 15 people over for Thanksgiving dinner. If they were all authors, 4 1/2 of them would be making money on their newly released book. (I get to choose which one only counts as half a person) Not bad stats, I'd say.

And by the way, if you want to see a rundown of what an author really makes, read the article referenced above. But beware - if you aren't an optimist, it could be a bit of a downer. Just remember you ARE the exception! ~Karen

photo: ice surrounds a branch on my Rose of Sharon tree

PS Sorry I couldn't get the link to appear. I fiddled with it for way too long and couldn't get it to post right. Ah, technology! You'll have to do it the hard way; copy and paste. ~K


Sharon Lippincott said...

Thanks for the link to a fascinating article! Its huge omission is part of the fascination. Readers who didn't already know, still won't have a clue that small independent presses typically pay no advance. If they do pay one it's more likely to be in three figures or maybe low fours than five. Considering the huge huge increase in the population of indy presses, this is likely to become the norm.

Personally I'd rather see income roll in after the book comes out, so an zero advance contract works for me. Or I should say HAS worked for me, in three contracts with my indy publisher.

Karen Fisher-Alaniz said...

I like that idea too. It'll be interesting to see if it becomes more mainstream. I'm guessing it will. Thanks for reading! ~Karen

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