Thursday, October 30, 2008

Our Short Story Rights and Contracts

There seems to be some confusion about what rights we are buying, so I recently wrote this description to one of our anthology editor, and thought I'd post it here too.

We are buying exclusive ebook and audio rights for three
years. We are buying non-exclusive print and
translation rights because we are submitting these books to 14
print publishers immediately and 11 foreign agents in 14 countries.

We already have an offer on one of our first 10 books from a
print publisher, so this is not pie in the sky. We also expect
to sell the print and foreign rights to our anthologies.

Should we sell the print (or other sub-rights), the individual author gets a pro rata share of that sale, which in an anthology is also split with the editor of the anthology, unless it's an in-house anthology - then the authors get the pro rata share without the anthology editor taking a share.

This is what a print publisher does, except reversed. They
buy exclusive world rights and license the ebook and audio rights, as well as translation.

We have a film agent who will be submitting the book once reviews are in, so unless a writer had her own film agent, s/he should be part of the package.

We are not buying these stories for the small advance. Each book is going up as both an ebook and audio book (which is why we need the audio rights)and the book gets a 38% royalty on ebook sale and 15% royalty on audio, so each author will get a pro rata share of this revenue within three months of
publication. This should be more than most short story authors receive for any print anthology. All our writers will get royalties.

3 comments:

Lisa Lane said...

Thanks for the clarification!

Lisa Whitefern said...

Thanks for the clarification!

Lady Zombie said...

This is great and I will definitely be submitting My story ASAP.