RWA Midday Summary
We started out the day with the Rogue Digital Seminar. Everyone was so awesome. BooksonBoard.com gave away hundreds of dollars worth of free books via gift certificate. Sony funded a sexy red Sony Reader as a door prize. Red Sage Publishing, Quartet Press, Samhain and Smart Bitches LLC all contributed to help fund the room rental fee.
We had over 80 people in the room with people standing in the back and a few sitting in the front. Kassia Krozser spoke about need for digital world rights because authors are losing potential sales to those overseas and upcoming issues authors need to be aware of including, but not limited to:
- digital release patterns
- trend toward New York pubs offering off the ‘net
- prices are cycling downwards
- experimental publishing such as chunking
- return of serialization
Sarah discussed the costs of digital publishing by oneself (it’s not as easy and print and go). Digital self publishing can be expensive because of the number of formats and other production costs.
Angie James of Samhain spoke about the digital publishing model. Digital publishing has been around since the early 1990s. In its nascent period, there weren’t very many readers and giving an advance did not make financial sense. Instead, publishers offered an unheard of high royalty in exchange. The digital publishing model offers an average of 35% royalty off the cover price.
Angie also offered a breakdown of costs: 35% to author; 40% to distributors; 5% to the editor; and other overhead costs. The publisher probably achieves a 5% profit.
Maya Banks and Lauren Dane talked about the advantages of being digitally published. The books come out faster and the payments are made monthly. There is cross pollination between the print and ebook readerships. Both Maya and Lauren stated that their digitally published books have earned out more than their New York advances.
Later on, I met with Shauna Summers from Bantam/Ballantine. There are some great new urban fantasy books, more historicals and a new Jill Sorenson romantic suspense. The Mary Balogh series involving the Huxtable family was super successful.
Linda Howard was super funny at the keynote luncheon. She spoke about her family and said, as inspiration, if someone like she can be successful with her crazy family, anyone can.
The Bitches and Beer signing is going on right now and is quite fun.