Authors Guild demands increased royalties from ebooks
In the US, the Authors Guild is asking publishers to pay authors a net royalty rate of up to 50% for ebooks as part of its ‘fair contract initiative’, and is calling for authors and agents to fight for an increased rate, reports the Bookseller. The guild launched its ‘fair contract initiative’ earlier this year as it believes ebook contracts have ‘not kept up with the changed times’. According to the guild, standard contracts give authors an ebook royalty rate of around 25% of publishers’ net receipts. However, some bestselling authors have received a 50% royalty rate on the proviso that they sign a nondisclosure agreement about the terms of their deal. The guild acknowledged that some publishers had shifted their rates, but often at the expense of lower advances. Read more about the Authors Guild’s ‘fair contract initiative’ here.
Category: International news