US Authors Guild wants 50% ebook royalty rate
As part of its fair contract initiative, the US Authors Guild is campaigning for publishers to pay net ebook royalty rates of up to 50%. The Guild says some bestselling authors are already receiving 50% but only on condition that they sign a non-disclosure document about the terms of their agreement. Most publishers currently pay ebook royalty rates of 25% of net receipts. Some publishers have initiated such a policy, but at the expense of lower advances.
In the UK, new digital publisher Canelo is offering authors 50% – 60% royalty rates although they do not pay advances. Canelo is signing titles on a five-year licence period, offering authors the opportunity to take back their titles at that point if they wish to. Industry veteran Michael Bhaskar launched Canelo last week, publishing two thrillers.
Kensington to publish Swedish romance author in English
Kensinton has acquired the rights to Swedish romance novelist Simona Ahrnstedt’s three book series in what it says will be the first time a Swedish romance author will be published in English. They will publish the first book Only One Night in Summer 2016. The series has already sold over 70,000 copies in Sweden, where it is published by Forum. Literary agent Anna Frankl has sold rights in eight other countries as well, including France and Spain. The books’ heroine is Natalia De La Grip, a young woman born into wealth who has a budding career in finance. She is expected to marry someone of equal social status but falls in love with a venture capitalist who has been plotting against her family.