New HarperCollins Imprint: No Returns, No Advances

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rugcat

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A clarification, from Publishers Market Place:
On some of the specific intentions of the new line, a 50/50 profit share with authors (and minimal advances) is a central tenet. But the idea of selling everything on a non-returnable basis was overstated in a WSJ report from earlier today. Miller says "I definitely want to sell non-returnable if possible" particularly since that maximizes the profits to be shared and "the goal is to try and stop wasting money on things that don't actually help sell books." But he recognizes that conversations with retailers are an essential element of such a plan that the process may "evolve after we start."
 

san_remo_ave

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Here's the press release

Date: 04/03/2008
Author: Erin Crum
Subject: ROBERT S. MILLER TO JOIN HARPERCOLLINS PUBLISHERS

Contact:
Erin Crum
HarperCollins Publishers
(212) 207-7223
[email protected]

FOR IMMEDIATE RELEASE



ROBERT S. MILLER TO JOIN HARPERCOLLINS PUBLISHERS


NEW YORK, NY (April 3, 2008) - HarperCollins Publishers today announced it has signed publishing veteran Robert S. Miller to develop and launch a new global publishing program based on a non-traditional business model. Miller will start at HarperCollins on Monday, April 14, 2008, at the London Book Fair, and will report directly to Jane Friedman, President and CEO of HarperCollins Publishers Worldwide.

After founding and building a very successful publishing company for Disney, Miller will join HarperCollins to develop an innovative and creative publishing "studio" that challenges conventional trade publishing standards. As President and Publisher of the yet-to-be-named entity, Miller will publish approximately 25 popular-priced books per year in multiple physical and digital formats including those as yet unspecified, with the aim to combine the best practices of trade publishing while taking full advantage of the internet for sales, marketing and distribution. Authors will be compensated through a profit sharing model as opposed to a traditional royalty, and books will be promoted utilizing on-line publicity, advertising and marketing.

"Bob Miller is one of the most talented publishers in the business, and we are thrilled have him join the HarperCollins team with the objective to re-define publishing for the 21st century," said Friedman. "Our industry needs digital and financial innovation to match its publishing expertise to thrive in an increasingly competitive world. Combining Bob's creativity with HarperCollins' sales acumen and digital leadership, this new entity will create a unique publishing platform to incubate a new publishing paradigm-- one that is unparalleled in the industry."

"HarperCollins is known for its innovation and experimentation, and I will live that philosophy. Our goal will be to effectively publish books that might not otherwise emerge in an increasingly 'big book' environment, an environment in which established authors are under enormous pressure to top their previous successes, while new authors are finding it harder and harder to be published at all," said Miller.

Miller joins HarperCollins from a 17 year career with ABC's Hyperion Books division which he founded in 1991 for the Walt Disney Company. Hyperion has published such bestsellers as Richard Carlson's "Don't Sweat the Small Stuff," Oprah Winfrey's "Make the Connection," Caroline Kennedy's "The Best-Loved Poems of Jacqueline Kennedy Onassis," David Halberstam's "The Coldest Winter," Steve Martin's "Shopgirl," along with humor by George Carlin, Tim Allen and Chris Rock, and cookbooks by Jamie Oliver, Nigella Lawson and Mollie Katzen.

Prior to Disney Miller held editorial positions at Delacorte Press, Warner Books and St. Martin's Press.

About HarperCollins Publishers
HarperCollins, one of the largest English-language publishers in the world, is a subsidiary of News Corporation (NYSE: NWS, NWS.A; ASX: NWS, NWSLV). Headquartered in New York, HarperCollins has publishing groups around the world including the HarperCollins General Books Group, HarperCollins Children's Books Group, Zondervan, HarperCollins UK, HarperCollins Canada, HarperCollins Australia/New Zealand and HarperCollins India. HarperCollins is a broad-based publisher with strengths in literary and commercial fiction, business books, children's books, cookbooks, mystery, romance, reference, religious and spiritual books. With nearly 200 years of history HarperCollins has published some of the world's foremost authors and has won numerous awards including the Nobel Prize, the Pulitzer Prize and National Book Award, the Newbery Medal and the Caldecott. Consistently at the forefront of innovation and technological advancement, HarperCollins is the first publisher to digitize its content and create a global digital warehouse to protect the rights of its authors, meet consumer demand and generate additional business opportunities. You can visit HarperCollins Publishers on the Internet at http://www.harpercollins.com.



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blacbird

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HarperCollins, one of the largest English-language publishers in the world, is a subsidiary of News Corporation

This statement really says all you need to know. NewsCorp is owned and run by Rupert Murdoch, who also owns and runs Fox News, among other things. He cares as much about writers as WalMart cares about Deborah Shank. HarperCollins thus becomes yet another great publishing name dragged into the sewer of industrial history.

caw
 

Stacia Kane

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See, I freaked out when I saw this too, but then I thought about it. The bookstore problem sucks and they would need to find a way to handle that, but really, if the imprint can get books out more quickly than the the usual process it's not such a terrible deal. I'm used to not getting an advance and earning only royalties, and honestly it's pretty good if you're selling high numbers. 50% on an $8 book is $4 per book, after all, and if you sell ten thousand copies you're doing pretty well, especially if you consider the difference between that 40k and, say, a 10k advance with 10% royalties.



That isn't to say I think this is a good idea or I would rather not get an advance. I'm just playing devil's advocate.
 

JanDarby

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50% on an $8 book is $4 per book, after all, and if you sell ten thousand copies you're doing pretty well, especially if you consider the difference between that 40k and, say, a 10k advance with 10% royalties.

Except there's no way they'd be doing royalties on the cover price if it's a "profit sharing" arrangement that covers paper books (as opposed to ebooks). An $8 book sells to the bookstore for $4, and it costs something to print the book, let's say a buck, so the net would be about $3, and who knows what else might be subtracted as an expense -- sales rep's commissions, public relations, cover artist, cover-copy writers, editors? -- before there's a "profit" to be divided between author and publisher. Without adjusting for all those things, the split would be $1.50 each, which is better than 80 cents (ten percent of $8), but not as much better as $4, and the author is taking on more risk this way.

JD
 

Stacia Kane

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Except there's no way they'd be doing royalties on the cover price if it's a "profit sharing" arrangement that covers paper books (as opposed to ebooks). An $8 book sells to the bookstore for $4, and it costs something to print the book, let's say a buck, so the net would be about $3, and who knows what else might be subtracted as an expense -- sales rep's commissions, public relations, cover artist, cover-copy writers, editors? -- before there's a "profit" to be divided between author and publisher. Without adjusting for all those things, the split would be $1.50 each, which is better than 80 cents (ten percent of $8), but not as much better as $4, and the author is taking on more risk this way.

JD

True, but the NYT article on this says the books will be priced at $20, so you'll probably hit $3 per book or so. (I should add that the article I originally saw simply said 50% royalty rate, not 50% of profit, which does indeed make a big dufference.)

Like I said, I'm just playing Devil's Advocate. I'm not for the idea, I'm just trying to look for/at the possible upside.
 
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triceretops

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And a concentration of internet sales instead of other routes? This is revolutionary? Bah!

Jesus. I belong to 22 display sites, hoards of book listing services, three major writing groups and dozens of book-related chat boards and other "new book" promo sights. They do absolutely nothing to move inventory. I've received more date requests than orders for my books. Just keeping up on all the blogs, articles, updates and announcements is enough to drive you insane and steal valuable writing time.

INTERNET MARKING IS A WASTE. Unless you're on a paid virtual tour of some sort, and even then you have to really perpetuate a huge audience draw. That goes for internet radio, too.

I read another article that states that this move included the e-book, audio and print book in one package. How is this even logical?

Giving the the new unpublished authors a break to see print? No advance. No royalties (it's profit sharing), no substantial returns or discounts. Where is this going to lead? Why would they even do offset for this?

Tri
 

geardrops

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This won't really work out if nobody submits to them. And it's not really in an author's best interest to go this way, it seems.

It may be a buyer's market, but only as long as there's something to buy.
 

nevada

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you know, people complain that the publishing industry is old-fashioned, that it needs to get with the times, that it's too hard to get published, but a publisher announces that it's going to try something new and all of a sudden everyone is digging in their heels and demanding that it's the old way or nothing. Wait until they're actually in business before judging. Nobody is forcing you to submit to them. Nobody is forcing you to be published through them. They've only just hired someone. I'm sure there will be a lot of fine-tuning to the business model before it goes into operation. And as for the money, you're all just guessing. And probably guessing wrong. Wait until the actual figures are released if they ever are. There are a lot of different ways to calculate profit sharing. Net, bruto, some sort of combination of the two or neither. Why get all up in arms about something that might actually be good? You don't know until it's up and running. Things will change. Get used to it.

edited to add: when i say brutto i meant gross. it's the dutch word, i have no idea why i used it. sorry.
 
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veinglory

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Nevada, I'll think you will find it's a different 'everyone' pushing those two barrow.

Also, so sue me I don't expect too much new and ground breaking from a publisher owned by Murdoch and a CEO responsible mainly for books by celebrities and cookbooks... by celebrities.
 

THenry

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I'm sorry, I don't understand this statement.

She's saying the "everyone" who complains about the stuck-in-the-past publishing industry has very little overlap with the "everyone" who dig in their heels when a company wants to try something new.

Off-hand, I'd say the primary difference is publication. All the sudden the old ways aren't so old and bad and, especially in this case, the new ways aren't so new.
 

Julie Worth

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This won't really work out if nobody submits to them. And it's not really in an author's best interest to go this way, it seems.

It may be a buyer's market, but only as long as there's something to buy.

In a world where PA has 30,000 titles, they'll get tons of submissions.
 
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