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How To Make $ 40,000 in Foreign Rights
So what is needed to make a package to foreign rights? Recently I spoke with John Penberthy on how to protect foreign rights sales, and he said he really was not that hard. It just takes a bit of persistence, patience and creativity! Here is my interview with John:
1. What is the most important thing authors should know when to launch his book to a FR?
Be brief and concise. You're throwing through email, the actors get a ton of emails a day and you have to have something that will be quickly and get their attention. In my case, I wrote a short letter, paragraph 2, with a link to my 60 second trailer. So I could tell you very quickly if it was something who might be interested in. At the end of the trailer was a link to my site, where I was offered the e-book version for free as a way to generate buzz. agents interested could read a few chapters to see if they wanted to request a paper copy.
One thing that worked strongly in my favor is that you can read my book in 90 minutes. Agents are overwhelmed with the presentation of books and I hate the amount of time it takes to read, so 90 minutes was a breath of fresh air for them. Offering free e-book was great because the book quickly spread worldwide and resulted in all sorts of interesting research. You do not want to forever, but when you're starting, it really helps generate buzz and eliminates all risks to potential buyers. It was instrumental in many of my foreign rights deals.
2. What types of books work best for FR?
My book, Bee Bee or not, is a spiritual allegory about bees, a kind of new Jonathan Livingston Seagull generation. People around the world have sought a greater meaning in their lives through spiritual understanding since time immemorial and I felt my book had a universal appeal. Her illustrations drawn up in a Chinese watercolor style to reflect this approach to the history of spirituality, which is really taking hold in the West, but also to appeal to the huge Asian market. This has worked well since 2 of my contracts are for Korean and Chinese, and I think I'm close to Taiwan and Japan.
Each author has to assess the extent to which his book will appeal to those within 1) the U.S. 2) Europe, 3) Latin America and then 4) Asia. These are the four major markets and each is a step away from the front. Many books are written specifically for Americans because America is the largest market. You probably will not get an agreement for a foreign cookbook, but I think computer and Internet books would do well in most countries because computer people all speak the same language. Each author must evaluate the universality of appeal of his book.
3. What should be included in the package of FR?
Once I would get email responses from stakeholders that would send only two things – the book and a detailed letter explaining the book, its uniqueness and market appeal, and its history. For example, my book is a gift book strong – we are an average of almost five books sold per customer through our website – so I always made sure to mention this and the fact that Bee or not to bee is a perennial gift book would be in print for decades. Multiple sales and longevity definitely attract the attention of potential publishers.
One trillion of new books are published every year and publishers are always looking for something new and different, which would encourage people to explain why his book is new and different. As the sales of foreign rights increased, which is always mentioned earlier translation rights were sold and the names of the publishers (to add credibility.)
4. How long does it take for a foreign rights agreement to happen?
It really varies. My first deal, Korean, signed a month after agent sending the book and the book was published three months after that. This is the speed of light in the publishing world. My second agreement, Italian, took about 2 months because the agent took him to the Frankfurt Book Fair, by far the largest book fair in the world, which occurred shortly after receiving the book. I was lucky have these offers go so quickly, but 1-2 months is abnormally fast. The third and fourth deals, Spanish and Portuguese, took about six months, again at fair the book. By the time these issues are released, 1 1 / 2 years have passed. In general, the publishing world moves at a snail's pace so you have to be patient.
My final agreement, the Chinese also took over six months. But other agents have been working on other countries for over a year and still have no prospects editor. Some editors sit on the books forever. Once a bee Bee or not is re-released by Sterling Publishing in the English speaking world in the fall and provides record sales, I have thought about doing another bombing-mail to foreign rights agents in all countries for which the rights have not been sold and to inform them of this new information. Hopefully this will generate a new round of selling rights.
5. If authors hire someone to negotiate them?
I am a firm believer in literary agents. Editors rely on them to sort through all the mobs and know that the books sent to them good Agents are worth their time to consider. But most importantly, the agents know what a book is worth and negotiate the best deal for you. There are examples of publishers who work directly with the authors, but it is a remote possibility, and the publishers know the authors have no experience in negotiating and desperate schemes and so it is very likely that the authors not get the best deal possible.
But you do not hire agents, and if they like your book you choose and then the work of a commission, usually 15% of advances and royalties later. The author pays nothing up front, publishers only get paid if they produce. Most foreign agents working with a co-agent in the country of the author, the books that feed the market, which already have a track record sales in the country of the author. In these cases, the agents often divide 2 20% committee. In my case it was the opposite – that sells the book directly to foreign rights agents and built a sales record of rights in other countries, then is used to attract a U.S. agent I subsequently got a contract with Sterling Publishing here in the U.S.
6. How long can you wait an author to assign to this process?
Not much time. First foreign research organizations on the Internet rights and put their list together. Then the draft letter and send email. Probably not have been more than a couple of weeks in total this year and a half.
7. What the things you look for in a foreign rights contract?
Because the agent is the intermediary, which normally has a standard contract prepared and submitted both parties to sign, so that contracts are generally very similar. The key, of course, are non-refundable amount of advance payment and royalty rate, usually only 7-8% of foreign rights, to be applied to the retail price. Royalties shall be deducted from the advance and once the advance is repaid, the editor makes the royalty payments.
Most publishers calculate royalties from the end of each calendar year, although some do it twice a year, and payments must quarter later. The contract should have a limited period, usually five years. If the book turns out to be great with good longevity, you can go back on the market at the end of the term for better conditions.
One thing that is absolutely essential is that the publisher provide a computerized statement showing sales, returns, etc. by mail to the author for each period. If figures are provided any other way (ie via email) is too easy for chocolate. Language and the geographical territory of the license must be specified. And the number of complimentary books provided by the author should be specified. The commission agent must be identified. One of the important things for my book at least, was to limit the rights of publication of books only. My vision is to see Bee Bee or not a film and digital animation as always retained media rights.
8. You are dealing with a group of strangers abroad. Once you have a contract, what will I pay?
To progress you have influence, if not e-mail the manuscript file until you get the advance. However, the concept royalty, once the advance is repaid can be risky, depending on the quality of the agents and the size of the publisher that is working. My contracts Italian Spanish, Portuguese and Chinese were secured by established agencies with large publishers. They provide computerized sales reports and are very reliable. Publishers in Asia and Eastern Europe This may be more problematic, depending on their size and reputation. Many of these countries have only recently signed the international copyright agreements and some of the more marginal publishers still do not feel the need to comply with them.
And even if the editor is set, send the money to the agent, which is supposed to send it to you, so there is an additional layer of opportunities for graft. They know that you have no influence, which will spend thousands of dollars hiring law in a country across the world unless there are clearly large royalties at stake (and the royalty rates for most foreign offers are notoriously low, usually 7-8%)? The only influence you have is if you have a co-American agent involved, because the reputation of the agent that is foreign collaboration at stake in the international player community. Still, many Americans co-agents expect only to receive their share of the advance and spend little or no effort to collect royalties unless they are substantial. The moral of the story – the largest and most established of the agency and editorial, more likely to have any.
John Penberthy is the author of To Bee or not to Bee. It has sold rights to his book in Korean, Italian, Spanish, Portuguese, Slovenian, and Chinese. Their foreign rights deals have totaled $ 40,000. View the trailer, read Chapters 1-3 and send free postcards target = "_blank"> http://www.ToBeeBook.com
About the Author
Penny C. Sansevieri, CEO and founder of Author Marketing Experts, Inc., is a book marketing and media relations expert whose company has developed some of the most cutting-edge book marketing campaigns. Visit
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