The Bookscan numbers are so off it astounds me that they're even taken seriously. One of my books is said to have sold 30k on Bookscan, but 160k on my royalty statements. I promise this book was not a drug cartel gift-with-purchase, but sold through regular channels, including Anthropologie, Urban Outfitters, and museum gift shops.
That is hugely off! So strange that they are so far off and I would think places like Anthropologie and Urban Outfitters would show in there but I don't know! It's all mysterious. I do feel like some of the percentages I've seen out there (that they are supposed to capture like 85% of sales) seems wrong.
The old data adage remains undefeated: garbage in, garbage out.
One thing I saw mentioned on Notes and heard in a recent webinar, which was also top of mind as I considered my advance, is that it's preferable to get a smaller advance and earn out, than to get a big advance and fail to meet publisher expectations.
If you get a huge advance and don't hit the target number, I've heard anecdotally your publishing career can instantly die on the vine. Conversely, a smaller advance doesn't equate to smaller total sales. The money still flows to the author in the form of downstream royalties.
Also, have you seen my Note?! I'm the main character on Substack!
I've heard this too about advances that sometimes a big advance is not preferable, but then I've also heard some people say the opposite -- that publishers can still make a profit even if you don't earn out your advance and so you should get as much as you can. But I do think a situation where you get a huge advance and don't sell many books is probably not great.
I don't know if I've seen the note! Which one is it?
Yeah, the math gets wonky fast because the money flows aren't transparent. I hadn't even realized Lincoln's point about a book making money while an author hasn't earned out their advance, and I'm pretty math savvy.
You're right, though: if your book doesn't sell well, period, you're hosed.
My agent told me the goal is always to shoot for the highest possible advance, but that's because there are zero guarantees in this business and you take whatever money you can get when you can get it. That said, I think if you want to build a solid, durable, mid-list career, beating expectations on small-to-medium advances makes everyone happy.
You "liked" the Note in question, which was about reading novels instead of news. It was totally innocuous, but somehow it's been viral for four days now and has 1,345 likes and counting! It's bizarre.
The Bookscan numbers are so off it astounds me that they're even taken seriously. One of my books is said to have sold 30k on Bookscan, but 160k on my royalty statements. I promise this book was not a drug cartel gift-with-purchase, but sold through regular channels, including Anthropologie, Urban Outfitters, and museum gift shops.
That is hugely off! So strange that they are so far off and I would think places like Anthropologie and Urban Outfitters would show in there but I don't know! It's all mysterious. I do feel like some of the percentages I've seen out there (that they are supposed to capture like 85% of sales) seems wrong.
Love your Canva graphic, Julie! Thanks for the Jen Mann book recommendation. Hope you have a great weekend!
Thank you! That book has some great stuff in it. Hope you have a good weekend too :)
This is so cool and helpful!
Thank you! Glad to hear that.
The old data adage remains undefeated: garbage in, garbage out.
One thing I saw mentioned on Notes and heard in a recent webinar, which was also top of mind as I considered my advance, is that it's preferable to get a smaller advance and earn out, than to get a big advance and fail to meet publisher expectations.
If you get a huge advance and don't hit the target number, I've heard anecdotally your publishing career can instantly die on the vine. Conversely, a smaller advance doesn't equate to smaller total sales. The money still flows to the author in the form of downstream royalties.
Also, have you seen my Note?! I'm the main character on Substack!
I've heard this too about advances that sometimes a big advance is not preferable, but then I've also heard some people say the opposite -- that publishers can still make a profit even if you don't earn out your advance and so you should get as much as you can. But I do think a situation where you get a huge advance and don't sell many books is probably not great.
I don't know if I've seen the note! Which one is it?
Yeah, the math gets wonky fast because the money flows aren't transparent. I hadn't even realized Lincoln's point about a book making money while an author hasn't earned out their advance, and I'm pretty math savvy.
You're right, though: if your book doesn't sell well, period, you're hosed.
My agent told me the goal is always to shoot for the highest possible advance, but that's because there are zero guarantees in this business and you take whatever money you can get when you can get it. That said, I think if you want to build a solid, durable, mid-list career, beating expectations on small-to-medium advances makes everyone happy.
You "liked" the Note in question, which was about reading novels instead of news. It was totally innocuous, but somehow it's been viral for four days now and has 1,345 likes and counting! It's bizarre.
Yep, I think there are just a lot of things to consider with it and lack of transparency is tricky.
That was a great note so I can see why it has done well!