Wayist Publishing 35% royalty for authors on the Author Advantage Publishing program

Considering the above there seems to be absolutely no reason why anyone should go to a Traditional Publisher with their measly 8% less penalties.

There's more

There are things the big, rich boys and their cartel-like networks can do that we cannot. For example, they can get a book in Ms. Winfrey's show, for the right price. In fact, if the price is especially right, Ms. Winfrey will talk about the book and say that you and your book are both amazing,  and she will have people cheering for you. If your book is good, for the right price (paid for in sacrificed royalties) it can make the New York Times list of must-have books. You may never make a cent from your first book, and you will be tied to a multi-book deal by then. So, you may not make much out of your first three books, but you will see the country while signing books all over the place, you will be well known for a while.  Then, one day when you are free, you will make money from writing. However, keep in mind that about 3 million titles are published in the USA every year and not so many make it to the starry shows. With that much competition out there, there's big money in the run so you have to sacrifice big to play that game - that is if you are ever invited.

There's even more

With the big boys you don't pay $600 upfront, you pay for years to come in sacrificed royalties. The math says that if you plan to sell less than 500 books, go to the big boys. However, catch-22, if you and your book looks like it will sell less than 500 copies the big rich players don't want you. Shucks - no-one wants you.

If you have your mind set that 500 is a good enough figure, you will most probably end up self-publishing. See below for some good news, it is possible to do it all by your lonesome.  

At 1,000 book sales, cover price $10 as per above examples - let's say 500 through Amazon and 500 through the Publisher's online store - you will have earned a nett income of $2,050 through Wayist Publishing or $800 through a traditional publishing house (before returns). If you get 201 returns, you get nothing and you owe the publisher $5 plus the retainer they loaned you ($4,000 on average).

Only books actively marketed by authors and their helpers see 20,000+ sales. In that scenario you will be so happy to be with an Author Advantage publisher like Wayist Publishing. Your cheque will be in the region of $45,000 as opposed to $16,000 from the rich boys, before returns. 

Don't make your decision yet, you have to compare the three main options side-by side.

Dirty little secrets in the closets of bookselling

 

Traditional vs. Self vs. Author Advantage Publishing

Although Wayist Publishing is a pioneer (or inventor?) of the Author Advantage Publishing model, we do believe that this will soon become the new standard in book publishing. In the process, many traditional book retailers and publishers will suffer deep or even mortal pain but some will repent and rise from their ashes.

 

Traditional Publishing

Self Publishing

Author Friendly Publishing

Author carries cost of professional editing, cover design and bookmaking

No. The risk of this cost is carried by publisher. Publisher does not accept sloppy work and expects a high level of editing done by author — with guidance.

Yes. The risk of these costs and management of these processes are carried by author. On average $3,000 to 5,000 for professional editing of a 90,000 word book. $1,000 for professional cover design and typesetting.

Yes. Author contributes $500.

Publisher does not accept sloppy work and expects a high level of editing done by author — with guidance.

Author gets editorial and line- copy- text- editing assistance

Yes

No

Yes

Author receives refundable advance

Yes. On average $4,000. Deduct from this future returns of unsold items ordered by booksellers. If insufficient books are sold to carry the refundable advance, author owes the publisher money.

No.

No.

 

Author pays for returns of ‘unsold items’

Yes. Author carries costs of returns and shipping of returns of unsold items ordered by booksellers, even Amazon.

 

Author cannot opt-out of this traditional model.

 

Industry standard dictates traditional booksellers receive 55% to 70% discount off cover price.

Optionally Yes.

 

Author carries costs of returns and shipping of returns of unsold items ordered by booksellers.

 

Author can opt out of this traditional model, and her books will not be sold through brick & mortar booksellers.

No. We elect to not play their game. They can order from us at industry standard discounts with no return policy. In practice this means they will order only if a customer asks.

Otherwise, the brick & mortar bookselling industry is not Author Advantage.

They “return” any unsold or soiled book providing author pays the shipping cost. If author elects to not pay shipping of returns, then the bookseller has only to ‘declare’ the item deemed returned (and demands a refund) and bookseller ‘promises’ to put the items out in the trash tomorrow morning.

Who owns and provides the ISBN

Publisher

Author buys and owns ISBN or requests POD agent to provide one in their name.

Publisher

Who owns copyright to the publication

Author owns copyright but assigns all rights exclusively to Publisher for a time depending on contract, the industry standard of which is the full term of ~60 years.

Author owns copyright unless assigned to self-publishing partner.

Author owns copyright but gives Publisher exclusive license to publish a work for a ten-year period. Author retains movie rights and other important copyrights.

Average royalty earnings

Industry standards:

 

Hardback edition:

10% of the retail sales price on the first 5,000 copies; 12.5% for the next 5,000 copies sold, then 15% for all further copies sold.

 

Paperback: 8% of retail price on the first 150,000 copies sold, then 10% thereafter.

Exceptions to the above include sales to warehouse clubs, book clubs, and special orders; the royalty percentages for these can be 50% or 80% less the figures listed above.

 

On an average 6”X9”, paperback, 300-page, novel sold for $15 through Amazon or another retailer, the author earns ~$1.20 first toward paying off the Advance, thereafter as gross profit, before returns. Cost of a returned book is approximately $4.50 but this figure depends on many variables.

On an average 6”X9”, paperback, 300-page, novel sold for $14 through Amazon the author earns ~$4.50

 

The balance of the $14 is made up of the POD cost (~$4.50) plus Amazon’s commission (~$4.50)

 

Author can buy directly from POD partner and sell books via different channels at the same retail price (never less) than Amazon.

 

Selling out of hand can earn author ~$9 per book first toward paying for $(you decide) production costs to date, and marketing costs, thereafter profits.

 

Caveat—you’re on your own out there.

On an average 6”X9”, paperback, 250-page, novel sold for $15 through Amazon the author earns ~$2.25

 

The balance of the $15 is made up of the POD cost plus Amazon’s commission plus Publisher’s retained earnings.

 

Author can sometimes buy directly from Publisher and sell books via different channels at the same retail price (never less) than Amazon.

 

Selling directly, author earns ~$6.25 per book, first toward paying for $600 production costs and marketing costs, to date, thereafter profits.

How much do literary agents earn, and do I need one?

Yes, you need an agent (and a lawyer) when working with a traditional publisher.

 

For slow-selling authors, agents will need money up-front and between 20% and 60% is industry standard. You may make no money when agents and publishers start working hard on promos and deals and things but your name will be on banners.

You may want to engage an agent to help you market your book.

You may want to engage an agent to advise you in legal matters. Our contract is simpler; it is a short time licensing agreement rather than an all-in lifetime+ signing over of all copyright. Author retains movie deals, etc.

 

You may want to engage agents or your own network to help you market your book.

 

We do a lot of the marketing because we too have to recover costs and make a profit. Nevertheless, books sell mostly because of marketing efforts by authors. We provide a LOT of help and guidelines, and access to the experience of other authors because we really need to see your title succeed, we have a lot riding on it.

Who pays for marketing costs?

Industry standard is that author bears 90%+ of all marketing costs and efforts. This is not a figure spelled out in contracts since marketing effort depends mostly on how much author can manage, or is contractually obliged to do.

 

Road trips and book signings can be very expensive for authors.

Author bears cost and responsibility for 100% of all marketing efforts, without which not one book will sell.

We bear all the costs of our own marketing efforts. We do this to not only recover costs but to make a profit.

 

Unlike the traditional publishing model, we make our marketing materials available to author for FREE, in the hope that she will use it as per our guidelines to sell thousands of copies more than we can.

 

Author carries her own marketing costs.

 

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