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Wednesday, August 24, 2011

Dovetailing on Joe Moore’s great post yesterday on “Show Me the Money,” I saw an article in Publishers Weekly and wanted to share this very interesting deal.
John Locke is my hero.











No, not THAT John Locke! This guy…
Publishers Weekly reported on Aug 22nd that John Locke, the self-pubbed Kindle bestseller phenom, closed a distribution deal with Simon & Schuster. The deal, negotiated by his agent, is an exclusive arrangement where S&S will handle Locke’s eight Donovan Creed novels and get them into retail markets for print books. These novels are expected to start releasing in Feb 2012 with more titles to follow.
This seems like a really different idea, but a rep at S&S said this concept mimics the type of arrangements made between distributors and small publishers. Whether you consider this unorthodox or not, this is news, people. Locke still distributes his e-books and retains his rights as publisher on all digital fronts. S&S is only getting the right to sell print books to retail markets. S&S sees value in print and paid accordingly for that privilege, but Locke didn’t have to give up his lucrative digital rights.
If Locke hadn’t self-published, he never would have known his true value in the marketplace.
I see this as very encouraging for aspiring authors. The digital marketplace has become the new resume, a proving ground. It requires work to market your own books, but traditional publishers expect authors to do this anyway. Quality and author craft is still important to this process, but I believe if an aspiring author has talent and a marketing platform to get the word out, this new digital world can be the best way to showcase work.
Published authors benefit from this development too. Striking a similar deal, they would get to focus on their writing, get their books into the public faster without all the approval and production schedule delays, and push the genres they write without NYC filtering the content for placement on shelves in retail stores. Established authors already spend time on promotion. Nothing new there, but there would be no more waiting to see if the publisher will spend money on promo or coop dollars for often limited time on the shelves. And the author retains control of cover art, book jacket summary, copy editing, and formatting, if they want it.
Even though S&S has limited access to Locke’s work, it can be looked upon as a WIN-WIN, in my opinion. S&S gets access to books that have a proven readership. They don’t have to “guess” whether a series will gain traction or not. They get exclusive print distribution rights for a known commodity. Not a bad thing to try in a changing world.
The author gets to take the risk of whether his or her book will find success, so they can push the genre or create a new trend—AND keep the rights that are most lucrative these days. The author would also free up time to write more, rather than spend time with the print side of the business—and gain access to retail markets he/she would not have reached on their own. PLUS a proven winner like Locke would also have the attention of NYC with his next project, opening more doors. Definitely a WIN-WIN!
I see this as a very positive arrangement—a healthy one for the industry. Both sides benefit from something they would not have tried otherwise. If a traditional bundled publishing deal can be broken apart for perceived value, how do you think this might change how deals can be negotiated in the future? Can digital rights be retained by the author for the right project? How would an agent’s role change? Would an author have to be a proven bestseller to have enough clout to negotiate a similar deal or does a deal like Locke’s foreshadow things to come for all authors?

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