Tuesday, 22 April 2008
Are British Publishers just Greedy Money Grabbing Parasites?
Some of you may have heard about Amazon’s Kindle ebook reader. After months of being sold out the device is now back in stock (22-Apr-2008).
Authors in the USA receive a 25% royalty for each digital book sale.
According to the Teleread web site:
“The gauntlet was thrown down in February by Random House c.e.o. Gail Rebuck, who in a meeting with agents proposed a royalty of 15% of net receipts on digital sales. That’s higher than the standard 10% royalty rate on hardbacks, but significantly lower than the 25% currently received by authors in the US for e-book sales.
“Little, Brown c.e.o. Ursula Mackenzie followed suit, writing to agents to say that the Hachette publisher would also be seeking to pay 15% royalties on digital editions. Both publishers emphasised that the rates would be short-term and subject to break clauses.”
Many readers here in the UK would love the chance to own a Kindle and would definitely not be amused if the UK launch was delayed by greedy publishers not rewarding the authors properly for their hard work.