Paper Tiger | What you're REALLY signing up for when you self-publish | Ex-auditor explains how publishing works @PaperTigerProductions | Uploaded May 2021 | Updated October 2024, 55 minutes ago.
I audited a lot of publishers during my 11 years of working at a Big 4 accounting firm. Here's how the entire publishing industry works at a very high level.
#selfpublishing #authortube #auditor
// JUMP TO:
0:00 Introduction
1:13 Who's who in the publishing supply chain
2:18 Where does all the money go?
3:09 Retailers
4:54 Distributors
5:39 Printers
7:00 Publishers
7:24 Author royalties and advances
8:56 Where does the money come from?
9:53 Estimating lifetime sales
11:11 The publishing business model and why it's basically gambling
12:16 How you should spend your money and time
While I've given some indicative numbers in this video, every publishing deal is individual, so if you're going to be traditionally published, make sure you read over all your terms and conditions carefully–especially whether your royalty is calculated on the RRP (cover price) or on net receipts (and pay attention to how "net receipts" is defined).
Author Susan Spann has a good overview of the various terms on the Writers In The Storm Blog:
writersinthestorm.wordpress.com/2012/03/09/susan-spann-calculation-of-royalty-fees-in-publishing-contracts
If you're self-publishing, then you ARE the publisher, so you need to carefully read over all the terms and conditions in your contracts with your distributors, printers and any other contractors you're engaging with to produce your book.
Auditors have a saying: when in doubt, consult! If you're not sure of what your publishing contracts say, get yourself some legal advice and don't sign it until you understand what you're agreeing to.
// BLOG ARTICLES ON THE PUBLISHER/AUTHOR ROYALTY SPLIT
Authors Guild:
➡️ authorsguild.org/industry-advocacy/half-of-net-proceeds-is-the-fair-royalty-rate-for-e-books
Nicola Solomon, author:
➡️ thebookseller.com/blogs/profits-publishing-authors-perspective-743226
Mark Gottlieb, indie publisher, Trident Media Group, and literary agent:
➡️ literaryagentmarkgottlieb.com/blog/are-royalties-fair-a-publisher-weighs-in
Andrew Franklin, indie publisher, Profile Books:
➡️ thebookseller.com/blogs/profits-publishing-publishers-perspective-743231
// CREDITS
Sound effects from Freesound.org: freesound.org/people/videog/sounds/149190
// CHECK OUT
My first book "Today is my birthday!" (a Cantonese/English rhyming story book for ages 2-6):
→ bit.ly/3cmpHqz
I audited a lot of publishers during my 11 years of working at a Big 4 accounting firm. Here's how the entire publishing industry works at a very high level.
#selfpublishing #authortube #auditor
// JUMP TO:
0:00 Introduction
1:13 Who's who in the publishing supply chain
2:18 Where does all the money go?
3:09 Retailers
4:54 Distributors
5:39 Printers
7:00 Publishers
7:24 Author royalties and advances
8:56 Where does the money come from?
9:53 Estimating lifetime sales
11:11 The publishing business model and why it's basically gambling
12:16 How you should spend your money and time
While I've given some indicative numbers in this video, every publishing deal is individual, so if you're going to be traditionally published, make sure you read over all your terms and conditions carefully–especially whether your royalty is calculated on the RRP (cover price) or on net receipts (and pay attention to how "net receipts" is defined).
Author Susan Spann has a good overview of the various terms on the Writers In The Storm Blog:
writersinthestorm.wordpress.com/2012/03/09/susan-spann-calculation-of-royalty-fees-in-publishing-contracts
If you're self-publishing, then you ARE the publisher, so you need to carefully read over all the terms and conditions in your contracts with your distributors, printers and any other contractors you're engaging with to produce your book.
Auditors have a saying: when in doubt, consult! If you're not sure of what your publishing contracts say, get yourself some legal advice and don't sign it until you understand what you're agreeing to.
// BLOG ARTICLES ON THE PUBLISHER/AUTHOR ROYALTY SPLIT
Authors Guild:
➡️ authorsguild.org/industry-advocacy/half-of-net-proceeds-is-the-fair-royalty-rate-for-e-books
Nicola Solomon, author:
➡️ thebookseller.com/blogs/profits-publishing-authors-perspective-743226
Mark Gottlieb, indie publisher, Trident Media Group, and literary agent:
➡️ literaryagentmarkgottlieb.com/blog/are-royalties-fair-a-publisher-weighs-in
Andrew Franklin, indie publisher, Profile Books:
➡️ thebookseller.com/blogs/profits-publishing-publishers-perspective-743231
// CREDITS
Sound effects from Freesound.org: freesound.org/people/videog/sounds/149190
// CHECK OUT
My first book "Today is my birthday!" (a Cantonese/English rhyming story book for ages 2-6):
→ bit.ly/3cmpHqz
