‘World first’ UK plan to pay authors royalties on used book sales
In the UK, a collaboration between online retailers and writers’ organisations will pay authors royalties on used book sales for the first time, reports the Bookseller.
The agreement between the Society of Authors (SoA), the Authors’ Licensing and Collecting Society (ALCS), and retailers World of Books Group and Bookbarn International will see authors paid royalties on the sale of used books purchased through those stores. The retailers will share sales information with the ALCS, which will pay its author members directly.
According to the organisers, the market for used books is growing at 12% annually and is estimated to be worth £563 million (A$1.03b) in the UK by 2025. ‘In a world first, authors are now able to receive royalties on sales of used books thanks to AuthorSHARE—a groundbreaking new scheme designed to create a fairer deal for authors in the used book market,’ the organisers said. ‘Until now, authors have only been able to receive royalty payments on sales of new books. However, in recent years there have been increasing calls from within the writing community for a new approach to address the exponential growth of the used book market.’
ALCS has a membership of over 112,000 writers in 105 countries worldwide who could stand to benefit from the scheme, which World of Books and Bookbarn International hope other retailers will join. For more information, visit the SoA website.
Category: International news