How to Negotiate a Publisher Contract
When an author is negotiating a publishing deal, here are some points the author should consider.
All or most of these will be addressed in the publisher's contract.
1. Advance: This is an upfront payment made to the author before the book is published. The amount can vary widely depending on the author's reputation and the book's potential.
2. Royalty rates: These are the percentages of book sales the author receives. Typically, these are higher for hardcover books than paperbacks or e-books. Standard rates often range from 10-15% for hardcovers, 6-8% for paperbacks, and 25% for e-books, but can be negotiated.
3. Rights: The author should consider which rights they're selling to the publisher (e.g., print, digital, audio, foreign language, film/TV adaptations). Retaining some rights can be beneficial for additional income streams.
4. Marketing and promotion: The author should discuss the publisher's marketing plans and budget for the book. This could include book tours, advertising, and promotional materials.
5. Creative control: The extent to which the author has a say in cover design, title, and editorial changes should be clarified.
6. Print run and distribution: Understanding how many copies will be printed initially and how widely the book will be distributed is important.
7. Reversion of rights: This clause determines when and how the rights to the book return to the author if the book goes out of print or sales fall below a certain threshold.
8. Deadline and publication date: Clear agreement on when the manuscript is due and when the book is expected to be published.
9. Option clause: This gives the publisher the right of first refusal on the author's next book. The terms of this should be carefully considered.
10. Audit rights: The ability for the author to audit the publisher's sales records to ensure accurate royalty payments.
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