Podcast - on being happy

[Jo Zebedee]

This is one of the two podcasts I did last weekend, about my approach to writing and life and what not. The Chrons gets lots of mentions!

The Woman Who Toppled Star Wars - Stephen Gordon

 

[Gary Compton]

Did we really do that? Thought it was a dream

 

[Jo Zebedee]

Did we really do that? Thought it was a dream

Yes, you dreamt it. As you were.

 

[Teresa Edgerton]

A good interview!

 

[Parson]

Jo, you sound really good at this! You would have held my interest if I just had run into you on the radio. Good job!

 

[Jo Zebedee]

Jo, you sound really good at this! You would have held my interest if I just had run into you on the radio. Good job!

Thank you. I was so nervous, listening to it, because, like most people, I normally hate listening to my own voice. But I was really pleased with how I came across which has given me a lot of confidence, which is great as I have two readings and a live Radio show coming up soon. So I'm glad it came over well (and that people on your side of the pond can understand me! )

 

[Parson]

You were immanently understandable. I was wondering why you were on making 16p on a 9 pd book at that one signing event. That sounds bizarrely low.

Care to share? Can you share?

 

[Jo Zebedee]

You were immanently understandable. I was wondering why you were on making 16p on a 9 pd book at that one signing event. That sounds bizarrely low.

Care to share? Can you share?

Yes, I mentioned it in another thread this week too. Most indy publishers offer contracts based on net profits, not cover price, so printing and distribution comes off before royalties. In this case, the bookseller took a 50 percent margin, so half the cover price went to them (30-40 percent is more normal.) so that came off, which took the amount to the publisher to just above cost price and then my share was distributed. Lessons learned. 50 % is not a good deal.

Having said that, the main book chain who are supporting me - Easons - have been very fair (as have any indies who have supported me) with margins and all booksellers shouldn't be judged by that horror stat.

 

[Teresa Edgerton]

Your contract says net profits instead of net sales? How did that get past your agent?

 

[Jo Zebedee]

Your contract says net profits instead of net sales? How did that get past your agent?

As far as I know it's pretty common with indy publishers now (it is, there are whole threads about it on AW.) Certainly most contracts I've seen recently show that. But I'll go back and check my terminolgy. (The royalty was definitely around 16p per copy, though.)

Just checked - it is a percentage of amount received less publisher's costs.

What the contract doesn't specify - and should, and yes, a miss by the agent, indeed - is a retail sale specification. It only specifies publisher website sales where there is no retailer margin to take into account....

But! And this is a huge but! These net profits contracts have risen since ebooks became significant. Bookstore sales are so mimimal for indy authors, they have very little impact on my royalty - and on this contract my ebook royalties are generous. Since they're by far the bulk of the sales, it more than outweighs the net on paperbacks. But for a bricks and mortar retailer-based model the net-profits model would be significant.

 

[Teresa Edgerton]

At the publisher's site, or everywhere?

 

[Jo Zebedee]

Only the publisher's site is specified.

 

[Teresa Edgerton]

I thought that would be it.

Definitely ebook sales are where the money is for small press and self-published authors. And would be, I think, for most debut authors from big publishers if the ebook costs significantly less than the paperback. Not that I have much hope that the big houses will be doing that very often.

 

[Teresa Edgerton]

As all of us who were around at the time know (which would include you and me and a lot of other Chronners) Gary started Tickety Boo Press to help authors who deserve to see their books published but who can't seem to make headway with the big publishers -- to bring back the kind of books that used to be published before the corporations took over the publishers. He was not, and is not, in it to make money. I believe the contracts are very favorable compared to most small publishers, and that all profits are invested back into the company.

The goal -- and yes, it is an ambitious one -- is to not only grow the company but grow the careers of the authors.

 

[Parson]

Jo, Thanks for explaining that. I would have guessed that the author's share of $12 book, would have been more in the area $1.25.

 

[Teresa Edgerton]

From a trade publisher the authors percentage of the printed $12 book would come to something more like 72¢, Parson.

But when it comes to ebooks, the small press author might get a larger share than the author at a big publishing house.

 

[HareBrain]

I normally hate listening to my own voice

Not that it sounded bad at all, but if it's any consolation, it didn't quite sound like your real-life voice either. (I only listened to a bit yesterday, but will try to finish it today.)

From a trade publisher the authors percentage of the printed $12 book would come to something more like 72¢, Parson.

Would that be 6% of cover price, or something like 10% of sales price to the distributor? (I guess you could have either, but I'm wondering which is more common these days.)

 

[Jo Zebedee]

Tis my posh tour guide-y voice, that's why. You guys got the full on version

 

[Teresa Edgerton]

Would that be 6% of cover price, or something like 10% of sales price to the distributor?

Usually its 6-8% of the cover price (except when the publisher discounts it) so I used 7% to arrive at that figure.

 

[Gary Compton]

Can I say that the Waterstones deal in terms of profitability is crap. They took 50% which left £4.50. Out of that the printing costs and postage had to be taken off which left 16p for Jo and 16p for TBP.

A loss leader if I am honest which got Jo alot of exposure. The Easons deal was slightly better 40%

As publisher I am not interested in expanding this model as it is just creating activity, unless of course our Kickstarter campaign is successful - then cost of book to us is £1 which is a different ballgame.

In future bookshops will have to buy from Lightning Source where they get 35% unless our KS campaign works which is looking doubtful. Printing for £1, you can sell at £4.50 and make a good profit which is shared with author.

Remember, Rome wasn't built in a day.