How to Read a Royalty Statement

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Literary agents Jessica Faust and James McGowan discuss what to expect when you read a royalty statement, and what you need to know.
BookEnds is dedicated to making publishing a book traditionally a more transparent process, and it starts with these videos!
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Jessica Faust’s love for books is what first brought her to open BookEnds Literary Agency. It is her desire to be an advocate for all authors that pushed her to create her blog, the BookEnds RU-vid channel and to maintain a vibrant presence on Twitter.
Jessica is proud to have grown BookEnds to an agency that represents authors of all genres for children and adults, allowing her to reach more readers and help more authors and illustrators achieve their dreams.
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James McGowan is a Literary Agent at BookEnds and writer for children. He began working with the agency as an intern in the summer of 2015, and basically never left. He represents a talented group of authors and illustrators working in everything from board books to middle grade graphic novels. He also works in adult nonfiction, and adult mystery and suspense projects. James is the author of GOOD NIGHT OPPY, which is available now.
Connect with BookEnds!
Twitter: bookendslit
Instagram: bookends_literary
Website: www.bookendsliterary.com
Connect with Jessica: bookendsjessica
Connect with James: jmcgowanbks

Опубликовано:

6 сен 2024

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Комментарии : 24

@tenacious2224 7 месяцев назад

How do we know if the number of units is correct? If they have a tendency to make errors on our rates, etc. I m sure they are messing up units sold, which is the most important number.

@caesar_pegasus 7 месяцев назад

All publishers hold some books sold on reserve to wait for possible delays and glitches in sale figures. Hope this helps.

@lisakaufman3029 7 месяцев назад

Thank you for the deeper look into royalty statements because it's definitely a business! So, the author has to be responsible for ensuring proper payment! Happy 25th anniversary! That's wonderful!🎊

@ArtbyMSB 7 месяцев назад

You two are the best in the industry!

@michellemodesto6893 7 месяцев назад

I was happy to see this. I've been getting royalty statements twice a year for 8 years and have never understood a single thing on them.

@ST8CASHBRKLYN 7 месяцев назад

I submitted my Query to you all for an amazing children’s book! It’ll change the world, fingers crossed.

@nikkiminty4796 7 месяцев назад

Hey guys, I love your channel. You’re always very informative and entertaining. I was wondering if you’d be interested in doing a video that shares your thoughts on slang in literature when it comes to dialogue. Eg: using ya instead of you Using ‘em instead of them Using ain’t instead of isn’t Etc… Also using grammatically incorrect sentences eg: “I ain’t telling ‘em nothin’” Or “I shoulda let ‘em lock you up when you was a kid.” I’m writing a thriller set in rural Australia where slang is prevalent. They speak with, what is often referred to, as a strine accent. I’m interested in getting an agents perspective on this subject.

@ArtbyMSB 7 месяцев назад

Thank you for this help. I wish I would have just went with a traditional publisher. Working on some other books at the moment. My royalties aren't showing up properly yet. Guess I am a little impatient, but I will be patient with you, if my dream happens.

@natashasantos892 7 месяцев назад

Hi guys, had no idea of all that ...wow! An example would have been great as well. Thanks, good to know.

@BookEndsLiterary 7 месяцев назад

We wish we could show an example, but we can't really show any without showing confidential information about payments! Plus, royalty statements are all VERY different depending on the house, so showing an example would really only help for that particular publisher. Sorry we couldn't include!

@ArtbyMSB 7 месяцев назад

This is my new favorite video, forever! Finance is my favorite topic.

@ArtbyMSB 7 месяцев назад

Sorry, I hope I am not too micromanagy. I just love you awesome people! I check for a video everyday, loving the high quality content!

@jillmoore8245 7 месяцев назад

I hope James opens up for queries soon;)

@Ruthie888 7 месяцев назад

Thank you.

@ArtbyMSB 7 месяцев назад

Made $0.39 in india last month, so cool I love India

@ArtbyMSB 7 месяцев назад

Monthly royalties is way too often for me, I need traditional bi annual or quarterly

@solarsailer4166 7 месяцев назад

Silly questions alert!! Synopses. I've seen a lot of discussion online and in person about how many words a 1-2 page synopsis should be. I'd have thought that to agents, pitch contests, pitch events, etc 1-2 pages is with double-spacing, and yet, there seems to be a lot of confusion and you can well imagine writers tying themselves in knots over formatting! Does it even matter if the content is thorough but to the point? There are a number of great guides as to structure and content, however, should a writer share the ending of the book in a synopsis or leave it as a cliffhanger? Thank you!

@BookEndsLiterary 7 месяцев назад

Hi! There are no hard and fast rules; you should focus less on trying to make it the "right" length and instead just write however much is necessary to cover all of the beats of the story. Some agents might prefer reading shorter synopses or longer, more thorough synopses, but as long as you feel like you're accurately summarizing your story start to finish you should be okay! Formatting should not be a problem in any case unless the document is illegible because of it, so whether you do double or single space is really going to be a personal preference. That 1 to 2 page number is often cited because most stories tend to fit just fine in that realm, but it's also not a rule! Please always include the ending in your synopsis! The synopsis is a tool that an agent can use to see where the story is supposed to go, even if they're only reading and offering on the first 50 pages, or whatever partial they ask for. They'll want to know the ending of the story.

@solarsailer4166 7 месяцев назад

@@BookEndsLiterary Fantastic! Thank you for taking time to reply. 🙂

@mariangriffin5197 7 месяцев назад

Does the author get paid only when they receive a royalty statement? Is the royalty statement the only way the number of books shipped is reported to the author?

@BookEndsLiterary 7 месяцев назад

Yes, royalty statements should come at time of payment, and is traditionally how an author can see how many books were sold during a royalty period. Sometimes their editor may also keep them updated on their book's sales!

@richsabo5513 7 месяцев назад

Is the Publisher's statement sent to the agency or the author? Or do they send one to both?

@BookEndsLiterary 7 месяцев назад

Hi! This depends on the publisher. Some have author portals for viewing statements (in which case, the agency should also have access and should be reviewing statements to make sure they look correct) and some send directly to the agency, who reviews and sends to author. There are probably others that send to both; it all depends on their processes