A subscription to Publisher’s Marketplace is a great way to stay up to date on what’s happening in the world of publishing, including the latest news of book deals – what publishers are paying as advances for specific books.
I love the way Publisher’s Marketplace classifies their deal information. Here’s the key they use:
“nice deal” $1 – $49,000
“very nice deal” $50,000 – $99,000
“good deal” $100,000 – $250,000
“significant deal” $251,000 – $499,000
“major deal” $500,000 and up
In this week’s Fab Freelance Writing Ezine, which has just gone out to subscribers, I included the article “Writing Books As A Dream Home Business”. You can see why that’s so by the key above if you’re lucky enough to get a “significant deal” or a “major deal”.
Many book publishing agreements are structured as multi-book deals, as you can see from this deal mentioned in Publisher’s Lunch:
Screenwriter Andrew Klavan’s HOMELANDERS, pitched as Twenty Four meets The Bourne Identity; homeless, broke, and unable to find his parents, a teenager has to outrun both terrorists and the law with only a few days to stop the murder of the Secretary of State in a race against time that brings him face-to-face with a master assassin, to Amanda Bostic at Thomas Nelson, in a four-book deal, by Alyssa Eisner Henkin and Robert Gottlieb at Trident Media Group (NA).
This means not only that you should be thinking of your novel as potentially the start of a series, but also that you need to get writing and keep writing. You may find that when your first book sells, the publisher is interested in giving you a multi-book deal; so it’s essential that you have at least an outline or a couple of chapters of your next book to offer.
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