Ebook rights: why you need to hang on to them
A report in techcrunch.com says, and I quote:
The Association of American Publishers released a report today that shows that ebooks have beaten hardcover revenues for the first time. Ebook revenues topped out at $282.3 million YTD while hardcovers hit $229.6. Almost exactly a year ago the tables were turned with ebooks hitting $220 million and hardcovers brushing past $335 million.
All the more reason to hang-on to the rights of your ebooks. Someone I know of signed a deal with a small press. They’re getting 30% of the ebook revenues after Amazon takes their cut. I don’t know how much the publisher will price the book at, but lets say it is $5. The publisher makes 70% of $5, which is $3.50. The author nets 30% of $3.50 = $1.05.
Since paperback sales are declining, I don’t like the idea of giving ebook rights away, since it is so easy to upload to Amazon yourself.
I know, I know – the publisher does the editing and book cover, you’re saying. But you can hire a professional editor and book cover designer yourself for a *one time fee.* By paying out royalties, someone else is making money on your work into perpetuity. For paperbacks, where there is distribution and warehousing and promotion, in addition to editing and print book formatting and cover designing, I can see the need for royalties.
But for ebooks?