Timeline for What is the opposite of self-publishing?
Current License: CC BY-SA 4.0
14 events
| when toggle format | what | by | license | comment | |
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| May 4, 2018 at 11:04 | comment | added | GGx | It’s possible they’ll secure fewer authors over the coming years unless they change these dinosaur contracts or the government brings back some version of the NBA. | |
| May 4, 2018 at 11:04 | comment | added | GGx | These are just loose figures to give you an example, and don’t get me wrong, I’m not advocating one process over the other. Some writers don’t need to make a living and don’t have to worry about the money. Also, many writers want the kudos of being with a big publishing house, especially with the stigma of self-publishing. But I also see many writers bitterly disappointed that they aren’t getting paid fairly for their work. Publishing houses need to realise that times are changing and authors now have options. | |
| May 4, 2018 at 11:02 | comment | added | GGx | With indie publishing, with the exception of PR (which your publisher probably stopped after two months while you front the costs of attending talks, shows and fairs) those up-front costs are paid. You never have to pay them again. The PR doesn’t need stop throughout the entire life of your novel, you can keep reinvesting a proportion of your profits into PR. But for every 1,250 copies (as opposed to between 16,500 and 125,000 copies) you get another five grand. | |
| May 4, 2018 at 11:01 | comment | added | GGx | But, for 90% of your profits, the publisher isn't marketing it anymore, their costs are done, it's pure profit. They’ll rely on your brand to sell your earlier books and you need to keep writing books that fit your brand. And if you end up in James Mayhew’s shoes with a book seller punting your book for £1, the publisher charging them 40p, and you ending up with 4p (3p once you’ve paid your agent) you have to sell 125,000 copies to earn back your advance. And another 125,000 for every five grand after that. | |
| May 4, 2018 at 11:01 | comment | added | GGx | Meanwhile, on the traditional deal, you’ve got your five grand, but the publisher is heavily discounting your book. It’s at £4.99 on Amazon, £2.99 in the supermarket, and £1.99 in that big book seller catalogue (they convinced you to go with that deal because of the sheer volume these catalogues move). Average approx £3 per book. You get 30p. You have to sell 16,000 copies to earn back your advance. To make another five grand, that's, 33,000 copies. And that fight for each five grand will continue through the entire life of your novel. | |
| May 4, 2018 at 10:58 | comment | added | GGx | But what if it does? For argument’s sake, let’s say, the front costs are £5,000 including a small investment in PR when you upload to a print-on-demand service. You sell at £5.99 per book and get £4 for every book sold (I’ve gone for a middle ground there, Rachel Abbott self publishes a new release at £8.99 per book). 1,250 copies later and you’ve made back your money. 2,500 copies and you’re made five grand. | |
| May 4, 2018 at 10:58 | comment | added | GGx | What’s more realistic is that you get one publisher interested and a £5,000 advance. It’s true, you haven’t had to shoulder the risk of paying out for an editor, type-setter, cover-designer, or the minimal PR the publishing company will do for you. That could cost you easily five grand or more and promoting your own book is damned hard work. Then, if your book doesn’t sell, ouch! | |
| May 4, 2018 at 10:57 | comment | added | GGx | If you get multiple publishers fighting over your book and it goes into a bidding war, you may get £100,000 for a two-book deal (50,000 per book). That’s if you're really, really lucky and you've written the next Gone Girl. With an advance like that the publisher will probably go for a super-release, where they put all their marketing efforts behind your book and you’ll end up on the front tables and in the windows of book stores, maybe even on the side of a bus! But, publishers do one to two super-releases per year. What are the chances of your book being one of them? | |
| May 4, 2018 at 10:01 | comment | added | GGx | Sort of insurance... well, risk is the issue and you’re absolutely right. Choosing between traditional and indie publishing is not an easy decision to make. With traditional, the publisher takes the risk of fronting those costs and potentially not making a profit (though not likely, they wouldn’t offer you a deal if they didn’t think they were going to make ANY money). And yes, it absolutely has to be considered in the equation, you're right. But, think about this: | |
| May 4, 2018 at 9:55 | comment | added | GGx | Not at all. They're just my observations and I'm not precious over my answers, that's what the votes are for. | |
| May 4, 2018 at 9:42 | comment | added | user29032 | Thank you for these comments, GGx. I have edited my answer to make my aim more clear. Again, not saying that your answer isn't the correct one. I'd just like to understand better. | |
| May 4, 2018 at 9:41 | comment | added | celtschk | “If they have to do their own marketing anyway, why not hire these independent editors, type-setters and cover designers and keep 70% of their profits through a print on demand service?” — Don't traditional publishing houses also sort of act as insurance? From my understanding, if your book doesn't sell, they have the cost of editing, typesetting and cover design, while if you buy those services yourself, you are sitting on the cost. Is that understanding wrong? Of course you still may think that the insurance is too expensive, but it has at least to be considered in the equation. | |
| May 4, 2018 at 8:54 | history | edited | GGx | CC BY-SA 4.0 |
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| May 4, 2018 at 8:47 | history | answered | GGx | CC BY-SA 4.0 |