I am reminded of the note I read about this a couple months ago.¬† Publishing giant Harper Collins rolled out a new imprint called Harper Studios, including ten books planned for celebrity chef Emeril.¬† What is unique about this imprint is that even for a fancy name like Emeril, they are not paying advances.¬† Instead, they plan to increase royalties to as much as 50%.¬† Royalties have traditionally been around 15%.
This is a big change, and if other publishers cleverly follow suit, it will dash a lot of dreams of big up-front advances.¬† Of course, every couple weeks we are told by a prospective client that they want us to find them a publisher who will provide a hefty advance…
1.¬† We write, we are not literary agents.
2.¬†Publishers are doing you a favor by risking their necks on an unknown author.¬† They are not going to give you a big advance.
As Harper¬† Collins spokesman Robert Miller says, “Advances have skyrocketed but sales haven’t grown.”¬† Authors will have to convince not¬†just the publisher of the value of printing their manuscript, but also the public of the value of reading it.
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