Author Turns Down Publishing Deal Over E-Book Royalties
More evidence that traditional publishing is going to be dragged kicking and screaming into the digital revolution.
Author Terrill Lee Lankford rejected a book deal with a publisher over the digital rights of one of his past books, because the deal would have meant he’d get only 25% of e-book royalties from the book, rather than the 70% authors typically get from Amazon.com when they own the rights.
Obviously this model can’t hold. There will be a revolt. The big time writers out there are already negotiating better terms, but I bet they are still getting the short end of the stick. In the meantime a lot of the little folks who just want to see print again are probably going to be seduced by new interest from publishers. I have a feeling there is going to be a tidal wave of cheap purchases by the publishers hoping to tie up as much material as possible at these usury rates. And then how much will your “platform” be worth? If you are just another name in a list of hundreds fighting for attention on a giant slate of titles you will have handed in your work cheap, with no way of getting it returned to you. Yes, that’s right. E-books don’t go out of print, so if you don’t fight for time limits, your work will be lost to you. Permanently.
Read the whole article here.
Thanks to eBookNewser for the original article.