Successful Self-Published Ebook Authors Sells Print & Movie Rights For $1 Million, But Keeps Digital Rights To Himself
from the it's-all-about-the-leverage dept
That is how leverage works. It's also a recognition of where a publisher can actually help. Howey knows that he can sell the digital book himself. He doesn't need any help with digital production, distribution or promotion. However, the physical book is a very different story, so having a big publisher handle printing and distribution for the physical book makes sense -- and given the fact he didn't need the help of a publisher, he was able to negotiate this more equitable deal. He notes that other publishers offered more money for a complete package, but it was easy to walk away, knowing he was making plenty of money on his own directly with the ebooks.
As the WSJ notes, it's all about the shifting balance of power, such that publishers no longer hold all the cards:
It's a sign of how far the balance of power has shifted toward authors in the new digital publishing landscape. Self-published titles made up 25% of the top-selling books on Amazon last year. Four independent authors have sold more than a million Kindle copies of their books, and 23 have sold more than 250,000, according to Amazon.Simon & Schuster even admits that it wanted all of the rights, but that under these "unusual circumstances" it had no other choice. I get the feeling those "circumstances" will become less and less "unusual" going forward.
Publishing houses that once ignored independent authors are now furiously courting them. In the past year, more than 60 independent authors have landed contracts with traditional publishers. Several won seven-figure advances. A handful have negotiated deals that allow them to continue selling e-books on their own, including romance writers Bella Andre and Colleen Hoover, who have each sold more than a million copies of their books.