Most authors walk a financial tightrope.
Hey, don't take my word for it. In a September 2015 an article on a recent Authors Guild survey of its members' incomes, Publishers Weekly put it this way:
Thank goodness for self-publishing. It saved my career, and those of many other authors I know.
Even with four novels (one optioned for television) and two-nonfiction books published traditionally, as early as 2010 I'd dipped my toe into the choppy waves of self-publishing. My subsequent success with it is why I now self-publish exclusively.
Whereas self-publishing has grown by leaps and bounds in the past ten years, ours wasn't the first generation to discover its financial rewards. Jane Austen, Emily Dickinson, Marcel Proust, and Walt Whitman self-published their books. Misery loves great company indeed.
But before self-publishing became a financially viable option for the current generation of writers, traditional publishing—that is to say, print books, primarily by one of the Big Five New York publishing houses—was the only venue for the sale and distribution of books. Even ten years ago, the thing authors love to do most—write novels—was not possible without running an unwieldy gauntlet that put their manuscripts in front of any literary agency that might deem the book sellable to a publisher, and any publishing house editor who might actually like it enough to purchase it.
Besides editing, printing, and distributing a book, part of the publisher's job is also to promote it. For doing so the publisher holds on to anywhere from 80-92 percent of the book's retail price.
(Yep, some authors get only an 8 percent royalty. Worse yet, royalties are paid twice yearly, and they are only paid if their books “earn out”—that is, return any advance paid, which may not happen for years if at all, what with the other variables tied to this equation, including book returns, of which there are no cut-offs; and perhaps the payback of advances of other books as well.)
Sadly, in traditional publishing, marketing is the last consideration—never the first—when purchasing a book from an author. Compared to other products as a whole—and entertainment products in particular, including films, music, magazines, and video games—it get a negligible budget, if any at all.
Don't take my word for it. In this article regarding the breakup between bestselling thriller writer Steve Hamilton and his former publishing house, St. Martin's Press, Publishers Weekly outs its industry's dirty little secret: there is no there, there:
A book can be beautifully written, have scintillating dialogue and a page-turning plot. But without the adequate marketing and promotion that puts it in front of a targeted audience, a book is as dead as a beached whale.
At this point in time, most Authors Guild members are traditionally published. Coupled with the Hamilton/SMP breakup, the Authors Guild survey certainly makes an excellent case for the guild to reconsider what it must do to protect its members. For example, the guild—along with literary agents and intellectual property attorneys—should insist that any publishing contract contain clauses that:
(a) Succinctly spell out a yearly quantitative financial base for the book, with instant reversion to the author if not met. Right now, most publishing contracts hold onto rights forever, under the assumption that digital distribution means that a book never goes out of print.
(b) Outline an advertising budget, tied to an actual, very specific media plan for the marketing of the book—at least for the first full year in print—and allow for immediate reversion of rights if there is no follow-through.
Is it any wonder that hybrid authors—that is to say, those authors who have been published traditionally, but then, like me, elected to publish their books independently of a publishing house—are a growing breed? Of course not. Like everyone else, authors have to eat. They have to pay rents and mortgages. They have to raise kids, and pay for health insurance, taxes, and all the other expenses that come from with being self-employed.
I know of many hybrid authors personally. Under the traditional publishing model, their advances and sales shrunk along with the demise of both chain and independent brick-and-mortar bookstores. Several were at the brink of financial disaster (homes soon to be repossessed, couch-surfing, near bankruptcy) when they made the decision to walk away from traditional publishing contracts. Instead, they rolled up their shirtsleeves and did what they had to do to self-publish: write good books; have their books professionally edited and digitally converted; distribute their books—primarily as eBooks.
The successful one know they must also promote their books.
The good news for their readers: the books are priced lower than their offerings still distributed by their traditional publishers.
The great news for these authors: now that they retain 70 percent of the book's retail price, they are making a sustainable living for themselves and their families.
Some are doing better than that, having already sold millions of books since starting this journey. Sylvia Day, Barbara Freethy, Stephanie Bond, Bella Andre, and Kate Perry are perfect examples of hybrid authors who took advantage of the changing bookselling marketplace to not just survive, but to thrive. And whereas Ms. Day, Ms. Andre and Ms. Bond still have one foot in traditional publishing, Ms. Freethy and Ms. Perry are in total control of every facet of their books' design, distribution and promotion.
Another hybrid author who made the leap into indie publishing and never looked back was thriller novelist Barry Eisler. Recently I had the opportunity to interview him for the International Thriller Writers Organization's e-zine, “The Big Thrill.” Some of what Barry says regarding his own thoughts as to the advantages of self-publishing versus a traditional publishing contract can be found in the article.
However, some of our Q&A were cut. Since they relevant to this post's topic, I've included them here:
If there were one (or two, or three) things you could change about the publishing industry and the novelist’s role within it, what would it be?
The first thing I’d like to change is the popular perception that organizations like the Authors Guild and Authors United primarily represent authors rather than establishment publishers. I have no problem with organizations advocating for publisher interests, but the dishonest way in which the AG and AU go about their publishing industry advocacy misleads a lot of authors. I could go on at length about this topic and in fact I have—so for anyone who wants to better understand the real agenda and function of these “author” organizations, I’d recommend starting with this article I wrote for Techdirt, Authors Guilded, United, and Representing…Not Authors.
But isn’t it true that the AG speaks out on various topics of concern to authors, like unconscionable contract terms?
Hah, the AG going after publishers is like Hillary Clinton going after Wall Street. I’ve had a lot to say about this, including thecomments I wrote in response to this post at The Passive Voice.For anyone who’s curious, just search for my name and you’ll find the comments, the gist of which is, when the AG wants to accomplish something, it names names and litigates; when it wants authors to think it’s trying to accomplish something but in fact isn’t (or, more accurately, when what it’s trying to accomplish is maintenance of the publishing status quo), it talks.
When the AG talks, it’s a head fake. The body language is what to look for in determining the organization’s actual allegiances and priorities.
Another thing I’d like to change is the generally abysmal level of legacy publisher performance in what at least in theory are legacy publisher core competencies. Whether it’s cover design, the bio, or fundamental principles of marketing, legacy publishers are content with a level of mediocrity that would be an embarrassment in any other industry. I’ve seen little ability within legacy publishing companies to distill principles from fact patterns (particularly patterns involving failures) and then apply those principles in new circumstances. Institutional memory and the transmission of institutional knowledge and experience are notably weak in the culture of the Big Five. My guess is that the weakness is a byproduct of insularity and complacency brought on by a lack of competition.
Agreed. Having spent fifteen years in advertising before becoming a novelist, I was abhorred as to what passed for “marketing and promotion.”
I'd also like to increase awareness of the danger a publishing monopoly represents to the interests of authors and readers. No, I’m not talking about Amazon; “Amazon is a Monopoly!” is a canard and a bogeyman. I’m talking about the real, longstanding monopoly in publishing (or call is a quasi-monopoly, or a cartel), which is the insular, incestuous New York Big Five. An important clue about the nature of the organization is right there in the name, no? See also the Seven Sisters…
Okay, another thing (and then I’ll stop because I could go on about this stuff forever): I’d like to see more choices for authors; new means by which authors can reach a mass market of readers; and greater diversity in titles and lower prices for readers.
Wait, that last set of wishes is already happening, courtesy of self-publishing and Amazon publishing—the first real competition the Big Five has ever seen, and a boon to the health of the whole publishing ecosystem.
Hybrid author success stories are now numerous. As author advocate Jane Friedman‘s wonderful blog points out, Claire Cook, Harry Bingham, and William Kowalski are just a few other examples of novelists who made the leap and never looked back.
Products are created from a perceived need. Industries are created by providing sales and distribution venues for products.
But sometimes how the product is distributed changes also how the product is purchased by its consumers.
Books—in whatever form they take—will always be needed. They entertain, they provoke thought, they provide knowledge.
In publishing, books are the products. Still, how books are distributed and sold doesn't change how they are made: by authors with the perseverance to write a good story, and then do what they can to find readers who will fall in love with it.
In his blog post. William Kowalski puts it succinctly:
Like Mr. Kowalski, Ms. Cook, and Mr. Bingham, I love what I do. Now that 2015 has come to an end, I now know that all my hard work toward creation and release of the my latest four books and a novella (The Housewife Assassin's Garden of Deadly Delights, The Housewife Assassin's Tips for Weddings, Weapons, and Warfare, The Housewife Assassin's Husband Hunting Hints, Totlandia Book 5, and Gone with the Body) was worth it.
It is confirmed by my bookstore royalties. More importantly, it is substantiated by the many kind comments received from my supportive readers.
Thank you, readers, for taking a chance on me, loving my characters, and chatting up my books with others who they felt might enjoy them, too.
Here's to a wonderful new year filled with more great stories from your favorite authors.