Wednesday, November 2, 2011
How to Sell Subsidiary Rights
So now you figured out you are a publisher? Well figure out ways to sell your stuff.
Mid Atlantic Book Publishers #MBPA (use this hashtag to participate) is having a twitter chat this Thursday (11/3) at 9pm EST
The sale of subsidiary rights is a major source of money for traditional book publishers.
John Kremer states the reasons why publishers should pursue these:
Rights Income will help pay for printing and promos
Make money on your books even before they are released
The sales of these rights increase buzz about your books
The sales of these rights give credibility to your book
More sales create additional sales for other titles
The more sales in this area makes it easier to get booksellers to pick up the book
Movie and TV rights will increase sale of your released book and subsequent books from the author
John Kremer gives tips on selling these rights:
Create a contact list to include buyers for, serial, audio/video, reprints, book club rights and more by category.
Cold call, email, postcard mail these sources to let them know of your upcoming book
Send out review copies with marketing plans, media kits to these prospects
Approach more than one lead at a time
Follow-up with call or face to face visit
Take your time and prepare for the unexpected
Feature rights for sell on your publishing focused website
Get a rights agent that works with publishers
When an author signs a contract with a publishing house, they generally grant the publisher ‘volume rights’ within certain territories. This gives the publisher the right to publish the book in certain formats. The royalties relating to hardback, paperback and sometimes trade paperback (a larger paperback format) editions will be spelled out.
There will be clauses in the contract covering all the other rights. These are the ‘subsidiary’ rights granted to publishers and can also be referred to as sub-leases.