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Old 02-13-2014, 10:08 AM   #1
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Posts: 304
Karma: 6102528
Join Date: Mar 2012
Device: Kindle
Author turned down $1.5 million book advances to continue to self-publish

Saw this post from the PassiveVoice, it's interesting so I thought I would share.

http://www.thepassivevoice.com/02/20...in-trad-deals/

From author H.M. Ward on Kindleboards:

Quote:
Over the past year I’ve been offered over 1.5 million bucks in advances offered by huge publishing houses. I told them to show me a marketing plan that knocks my socks off and I’d consider their offer. I had this notion that they knew what they were doing and could do it better than I could. They said they had all these ideas and they’re gonna blow my mind, which was a requirement for the deal, b/c the pay was too low.

About the money – if you have a book that hits #1-10 on the Kindle store, tons of people have the mistaken notion that it’s gonna blip and fall and you’re fun in the sun will end…unless a trad pub picks you up.

It’s math time! A book in the top ten sells around 5-10K copies per day. Let’s take the average and give the book some wiggle room and say it’s selling 7K copies a day @ $2.99. In 7 days you’ll have made (net, not gross) over $100,000. So BIG TRAD HOUSE offers you $200,000 for a three part series.

‘Sign here,’ they say. ‘Sign fast! You want to strike while the irons hot.’ ‘A bird in the hand is worth 2 in the bush.’ ‘It’s a sure thing and if you don’t sign, then you could loose everything.’ <–They actually said all the crap to me, and its crap. If the book nets $100K in a week, what will it do next week? What about next month? What about next year? Never mind those other 2 books. Bad deal.

The most recent offer was for a high six figure deal on my next novel, on spec, sight unseen from one of the big 5. I gave the same terms – show me a kick *ss marketing plan and I’ll consider it. They were excited and on it! They were going to wow me. Like I was gonna be so wowed that I’d die of the wowness. True story.

Dude, the marketing plan I got back was the equivalent of, ‘we’re gonna do stuff.’ Their email list – yeah, they don’t personally have one, but this archaic place does – had 2K people on it. That was the bulk of their plan.

My email list has over 30K ppl on it and I do a ton more stuff than they presented.
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