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.


KaSonndra Leigh said...

Wow! This one definitely sounds interesting. I can't wait to learn more about it tonight! Marketing plans are still somewhat intimidating to me. But my company is going for it! Thanks for all you do in helping small presses. See you tonight

KaSonndra Leigh

Kelly Hashway said...

Such great info! Thanks so much for sharing this, LM. I'm taking notes. :)

LM Preston said...

Wonderful! I love sharing things that can motivate people to expand their horizons :-D