Real Money as a Best Selling Author

I stumbled upon a great blog today. This wonderful post explains the financial ins and outs of being a bestselling author. It is, unsurprisingly, not nearly as impressive as we new writers would hope. But this sobering information is so needed, and so appreciated.

Here’s a small glimpse…

“To give you a condensed version of what all those figures mean, for the sale period of July through November 30, 2008. my publisher reports sales of 64,925 books, for which my royalties were $40,484.00. I didn’t get credit for all those sales, as 21,140 book credits were held back as a reserve against possible future returns, for which they subtracted $13,512.69 …

My net earnings on this statement was $27,721.31, which was deducted from my advance. My actual earnings from this statement was $0.

My advance for Twilight Fall was $50,000.00, a third of which I did not get paid until the book physically hit the shelf … my agent received $7,500.00 as her 15% (which she earns, believe me) the goverment received roughly $15,000.00, and $1594.27 went to cover my expenses (office supplies, blog giveaways, shipping, promotion, etc.) After expenses and everyone else was paid, I netted about $26K of my $50K advance for this book, which is believe it or not very good — most authors are lucky if they can make 10% profit on any book. This should also shut up everyone who says all bestselling authors make millions — most of us don’t.”

There so much more information on the blog. Please look at Genreality for more http://www.genreality.net/

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3 thoughts on “Real Money as a Best Selling Author

  1. Pingback: Topics about New-york » Blog Archive » Real Money as a Best Selling Author

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