How can an author evaluate a publisher’s offer for ebook rights? Sometimes an author finds themselves in the lucky position of having three choices.
1 a mainstream publisher makes an offer to put on of their backlist titles into ebook. They offer a standard royalty, but no advance.
2 an ebook-only publisher, perhaps in America, offers a higher royalty, which is nice, but it only kicks in after a certain amount of money has been earned back, to cover their costs.
3 if the author is being asked to subsidise the cost of production themselves, perhaps they should go the whole hog and publish the ebook themselves too? Then they would get to keep all the money received from sales.
How should the author or her agent resolve this dilemma?
This is a question which takes us back to the fundamentals of what we can expect from a publisher, and which one will do the best job. My answer to this question is that the author should choose the route that will give the book the most publicity, because that is what will ultimately lead to the most sales in the long term.
Option number 1 – the mainstream publisher – will start making the author money straight away, in the next royalty statement, with no deductions. The book will be published alongside several others, which will hopefully give it enough ‘critical mass’ to be noticed.
Option number 2 will make more money in the long run, but only after the contribution has earned out – and how many sales will it take to cover that?? Is the level of contribution the author is expected to make realistic for the stature of the book? The ebook-only publisher is likely to have fewer titles, so this one might get more personal attention, but are they big enough to make a splash with it?
Option number 3 is a risky business – after all, publishing is all about risk. Obviously there are the upfront costs of production, which includes proofreading the conversion, a new cover design, and then there is the whole business of selling the ebook around the world. But if the author already has a ‘platform’ with a large number of followers or fans, it could be the best option.
Publishing is all about publicising the authors work and making it available so the best choice of publisher will be the one who can do that most effectively. That may be the mainstream publisher who has well-oiled channels to the market; it may be the ebook-only publisher who understands their niche and has the energy and focus to drive each book to success; or it may be the author herself who is in touch with enough readers to persuade them to part with their hard earned cash in return for a good read.
Publishing is not about producing an ebook, putting it on sale in a couple of places and forgetting about it. That is almost as bad as printing a load of paperbacks and leaving them all in the warehouse. The real work of publishing is telling people about it and enthusing them, and the publisher who will do that is the best one for an author’s book.