Book Publishing Model that Pays Authors 50-50
Via Fast Company
Julia Cheiffetz, 30, edits books at HarperStudio, a new imprint of HarperCollins that’s trying to rethink both the format of books and the business model. HarperStudio will publish just two books a month and offer authors 50-50 profit sharing, rather than a traditional 7% to 15% royalty.
“There’s this sense of doom and gloom in the publishing business, but this is an amazing moment. Ultimately, technology is going to not only enable people to read more but also enable new art forms. At HarperStudio, there’s an R&D element to what we’re doing. For instance, we gave all of our authors Flip cameras and asked them to start video blogging, opening up their writing process and cultivating an audience as soon as a book is acquired.
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