""We are pleased to inform you" that we will be slicing your royalties up to 50%, is the essence of a letter from John Wiley & Sons to Bloomberg Press authors. "John Wiley & Sons acquired Bloomberg Press, the books division of Bloomberg, in March," says the June 2010 Authors Guild alert. "At the end of April, it began sending a letter to hundreds of Bloomberg Press authors purporting to inform them 'about a few differences in the accounting systems of Bloomberg and Wiley Read More
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Wiley's Deceptive Letter to Bloomberg Press Authors:
June 11, 2010
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Jun 14, 2010 6:24 AM EDT
One in Five Bloomberg Authors Received Royalties Based on Retail List Price, Says Wiley. Wiley's press release follows the AG response to it, which does the math, and makes the point an author should pay attention to with any publisher:"Bloomberg had no print on demand program. Authors would reasonably expect that if their books didn't sell enough to justify replenishing stock with a traditional print run, then the rights in the books would be revertible. Wiley's letter seeks not only to allow it to use print-on-demand technology to keep a work in print without negotiating a minimum sales threshold for a work to be deemed in print (as all literary agents and knowledgeable authors insist on), but it also seeks to do this at a royalty rate of 5% of net, the lowest such rate we've ever seen."
- pm
Jun 16, 2010 6:30 AM EDT
One in Five Bloomberg Authors Received Royalties Based on Retail List Price, Says Wiley (Authors Guild 6-14-10). Wiley Rejects Guild's Audit Proposal (Authors Guild 6-16-10)
- PM
Mar 08, 2018 10:31 AM EST
Claiming the Royalties You Deserve (Juli Saitz, Authors Guild, 2-28-18) "The imbalance in power between author and publisher often begins with the complexities of the publishing agreement. Unless an attorney is involved in that process, authors tend to accept the terms set forth in the publishing agreement as standard, without questioning specific terms."
- PM