Digital Rights and the Changing Landscape:
Back in October 2008, Random House sent out a letter to industry agents informing them of a change in policy regarding ebook royalty rates on all future contracts. Previously, RH had paid 25% of the suggested retail price of the title. The new policy was that they would be paying 25% of the amount received for all titles.
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Now we have another bump in the road. MacMillan, parent of such companies as St. Martin’s, Farrar Straus and Giroux, Henry Holt, Picador, and Tor among others, announced earlier this month that they would be making changes in their ebook royalty rates as well.
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Carina insists on taking ALL RIGHTS, including print rights, despite the fact that they are a DIGITAL ONLY publishing house.
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The market continues to change and authors need to be aware of how small changes in contract terms and language can have significant impact on their bottom line.