Traditionally Published Payments
Earning money as an author may be a big concern.
Traditionally published authors will earn money in a different way to those who self publish
Here is how traditionally published authors earn their money.
You will more than likely earn an advance in three different stages. One third when you sign the contract, the next when you deliver your book and it gets accepted, and the last when your book is published. This advance can be any amount of money depending on your publisher. This may sound good; however, time is a huge factor.
If you have yet to write your book, and when you sign the contract it is simply to write the book; time plays an important role. It wholly depends on how long you take to write your book on when you will receive your second advance payment. Even once you have finished writing you need to factor in editing and proofreading. Depending on the situation you are in when going to a publisher and signing a contract, your advances may be extremely far apart.
When your book has been published, you won’t begin to earn royalties until you break even on your advance. If your publisher has spent £50,000 on publishing your book, you have to earn this back or more before you can even begin thinking about earning money. Even once you break even and begin earning the money you make on sales, you will only earn a small percentage from each sale.
As a traditionally published author, you may earn quite a large sum of money to begin with, yet once you have published your book the money can possibly decline dramatically.
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