Fun With Royalties and other Book News
1. It means that the trade and mass-market paperback editions of Old Man’s War will be pure gravy, in terms of royalties;
2. It means I start earning royalties on The Android’s Dream from the very first book sold;
3. It means I start being paid royalties sooner. The way the contract was structured, royalties wouldn’t be paid until the advances for both novels were recouped, so if OMW had only earned out its own advance, I wouldn’t be getting a check until when/if Android’s Dream earned out its advance as well (you may ask: why agree to such a thing? Answer: because I didn’t figure it would be an issue one way or another. Yay! I was right!).
4. It means Tor is definitely making money off me, and relatively early, which is a happy thing for the selling of future books, particularly to them.
So am I rolling in sweet, sweet royalty money? No. Three words: "Reserves Against Returns." Which is to say Tor holds back some money every statement period to make sure they’re not whacked by returns of the book; the money held in reserve is typically refunded in the next statement period. By that time they’ll have stopped selling the hardcover to get the trade paperback in the stores, so we should have a nearly complete accounting of how many hardbacks were sold and how many were returned. This is probably where Tor’s thing of multiple-but-relatively small printings will be useful; I don’t imagine there will be too many returns overall, and that’s not a bad thing.
In all, not a bad place for a first-time author to be. As an aside, I’d note that if you actually wanted a copy of the hardcover of OMW, now would be a good time to get it, since as noted it’s going to be withdrawn from sale when the trade version comes out. This is particularly imperative for folks who like the Donato cover, since the trade version (and any future mass-market version) will feature the John Harris cover.
Also, Barnes & Noble is featuring The Rough Guide to Sci-Fi Movies as a Recommended Gift for the holidays. Naturally, I couldn’t agree more.
That’s the book news I have for you today.