Category Archives: business of publishing

State of Play

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I had a great visit to New York, justified in part by our friends’ wedding anniversary (a fabulous rooftop renewal of vows ceremony and dinner) and, in part, by a desire to touch base with my agent. The major downside about moving back to Australia is the sheer distance it is from anywhere else. It literally took a day and a half of travel to get from Melbourne to NYC…so I was really hoping that the visit was worth it!

It was.

Meeting my agent was important for three things: 1) to get feedback on my WIP; 2) to discuss next proposals and plans; and 3) to get insight into the industry (as it continues to change, an agent’s perspective is always helpful). I also think there is no real substitute for a face-to-face meeting.

Thankfully, the feedback on all three was extremely positive, and perhaps just as importantly, my agent seemed pretty optimistic about the publishing industry in general. A year or so ago he seemed much more subdued – but (no surprise for us TKZers here) the success of e-books has definitely buoyed the industry. Here’s a few things I took away from our meeting:
  • Though the YA market continues to be vibrant, the mystery/thriller market is still tough going, with many houses streamlining their lines and focusing (again, no surprise) on their bestselling authors. It remains tougher than ever to get published (in fact, I doubt my first book would ever have sold in this market – which is a depressing thought!).
  • E-books have become extremely profitable for publishers and are creating greater opportunities for publishers to target readers. A few years ago most publishing decisions were driven by what the buyers from Barnes&Noble and Borders liked. Such market concentration wasn’t necessarily a good thing (for writers or readers) but now, e-books present a huge opportunity for a more ‘level playing field’. Even Amazon doesn’t command a massive market share and the growth of the Nook and other e-reader/book options is making the market more ‘democratic’ and accessible. Good news for authors and readers alike!
  • Given all the industry changes, agents are re-evaluating how they can advise and work with their clients on publishing e-books (particularly for their backlist). As there is potential for conflict of interest, agents are looking into the options carefully. There are now companies who work only with agents and their published writers in this respect. I think it will be interesting to see how this pans out – especially as many writers are already choosing to go it alone and self-publish their e-books with or without an agent.
So my question to you all is: how do you view the role of agents changing in this current environment (apart from selling your work to a traditional publisher)? Have your expectations regarding an agent changed with the success of e-books? If you are unpublished, are you still seeking agency representation?

E-Pub versus Indie Pub

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My last topic here was on The Self-Pub Adventure. Here are my conclusions so far.

For three backlist titles in my futuristic romance Light-Years Trilogy (Circle of Light, Moonlight Rhapsody, Starlight Child), I went with Belgrave House to convert my books into digital formats. For no costs up front on my side, I had them scan the printed book, send me the file for proofreading, got a decent but simple cover, digital conversions, and all the titles uploaded to numerous e-book sites. My titles are priced at $5.00 each and I split the profits 50% with the e-publisher. They only accept works by previously published authors who have reversion of rights.

For my last remaining backlist title, I’d decided to try the indie route. One look at the Smashwords Style Guide, however, and I changed my mind. I would probably screw up my Word program forever if I followed their directions. Better I should hire someone to do the conversions than spend hours figuring this out. But once the file is ready, I’ll still have to upload it, as well as do all the marketing. 

With a cover and a conversion, this is likely to cost me up to $300…unless I stick to paying for the cover alone and uploading my doc file just to Kindle. I’ve hired a cover artist and for $125, she’ll make me a custom cover. I wanted one that’s competitive with the paperbacks out there. 

Let’s say I pay for conversions as well as a cover. If my indie published backlist book does well and I make this money back, it would be worth going the indie route again for original works. But if not, I would rather submit to a legit e-book publisher than go it alone. I’d have to give up a certain percentage of my royalties, but I need the services they’d provide. Indie authors make everything sound easy and profitable. But for how many, or how few, is that true? 

The Wild Rose Press gave me a beautiful cover for Silver Serenade, editorial assistance, digital conversions, and publicity opportunities. I get a 35% royalty for books bought at their site, where my title costs $7.00. On my own, I could be making double that amount on Amazon and control my own sale price. Yet their price point is somewhat understandable considering they have to pay cover artists, editorial, etc. as part of their publishing costs. But they also have no overhead in terms of office space, warehousing, etc. And readers want to pay $5.00 or less for an e-book.

It’s a very tough choice to make, whether to step off the gangplank on our own or swim the calm waters of having a publisher do all the work for us. You have to know what you’re taking on. But my adventure isn’t over yet. Once I get my new cover, I’ll see how it goes with uploading the file for this backlist title myself.

Here’s a great discussion on some of these topics: http://www.sfwa.org/for-authors/writer-beware/pod/

And if you’re in Florida—or not—you may want to attend this important publishing industry event: http://www.ninc.com/conferences/2011/panels.asp