advances

I wrote:
>> Because most books are acquired on the basis of a proposal,  
>> outline and sample chapter(s). Then the writers finish writing  
>> them. The first third of the advance is intended to keep the  
>> writer from starving while completing his/her first book. The  
>> second third (on acceptance) is intended to provide a strong  
>> incentive to complete it.
>> The last third is intended to tide the writer over until either  
>> the next book is acquired or some excess royalties are earned.
>
Ed  Howdershelt:
> Hm. Someone comes to me and says, "I have a third of a novel here.  
> If you give me money, I'll finish it."
> Heh. Ha.
> "Okay, here's fifty cents. Call when it's ready." :)

Well, novels are a little different, but as we all know, they're a  
pretty small portion of the total publishing picture. And even there,  
once you have a track record showing that you complete books on  
schedule, you might get a contract and an advance before completing  
the book.

I completely understand your point, but you asked about the  
underpinnings of the system as it is.

As for novels, a normal book takes about 1 1/2 to 2 years from  
contract to publication, given all the work that has to be done on  
the completed ms before release, and the lead times for the most  
powerful marketing tools, for advance orders, and similar  
requirements. Then you wait for the end of the first 6 month royalty  
period (not 6 months for pub date, though, so the average would be 3  
months) and then another 3 months for your statement and payment.  
That's a total of 2 to 2 3/4 years from completion of ms to first  
royalty statement.

I'm not sure I would want to wait that long for my first payment.

I agree that publishers take a huge risk on publishing a book. A  
typical trade book (novels included) costs $20k to launch, minimum.  
And the typical mass market novel is a bigger investment. BUT authors  
have fewer arrows in their quiver, and have invested more of their  
available resources in producing the book, so they're already sharing  
the risk, IMO. I think it IS fair that they should be paid earlier. I  
just wish AEs were more accurate in projecting first year sales. <grin>

Just my point of view, of course.

Marion Gropen
Gropen Associates, Inc.
By-The-Question Consulting, Inexpensive Tools for Small Presses, and  
Classes.
For info, visit http://www.GropenAssoc.com or call (888) 3GROPEN
NEW: Marion's BLOG has moved to her site. Come ask her your questions!



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