#1: ONLINE ROYALTY ACCOUNTS FOR AUTHORS
(Note: This seems like an obvious next step for the book industry, although publishers hit the roof when I’ve shown it to them, as you’ll see. — Pat)
If you were an author, wouldn’t it be great if your publisher gave you a password to your own royalty account?
This would be an online, frequently updated, always accessible, entirely confidential page on your publisher’s website that would replace the current system.
As frequently as you wish, you could check sales of your book, the rate of returns, the percentage taken out for reserves and varying royalty rates for bulk sales, special sales, premium sales, electronic sales, and so forth.
As it is now, most authors have to wait six months for a printed, snail-mailed royalty statement that’s filled with outdated information that’s mired in financial gobbledygook their own agents can’t decipher. Continue reading