Simon and Schuster Cuts Multi-Year Deal With Amazon

Simon and Schuster Agreement with Amazon_peoplewhowrite

What does Simon and Schuster’s deal with Amazon mean for the e-tailer’s dispute over ebook pricing with Hachette?

The New York Times says: “Amazon told Hachette it wanted e-books to be cheaper while also reportedly seeking a greater share of the revenue from each sale. The negotiations were widely viewed by traditional publishers as an attempt to establish a new benchmark that would increasingly diminish their roles.

Perhaps Hachette’s refusal to commit helped inspire Amazon to make an agreement with Simon & Schuster. If so, a deal might inspire a settlement with Hachette. A Hachette spokeswoman declined to comment.”

Hugh Howey asserts: “There’s another advantage to this deal for Simon & Schuster. Pressure for higher ebook prices comes from print retailers, who don’t want to be undercut. Publishers aren’t stupid; they know they can sell more ebooks at a lower price and make money doing so, but they worry about harming existing partnerships. S&S can now price some ebooks high, knowing that Amazon has room to discount, and they can go to the buyers at their major accounts with the digital list price to show their support. That is, the blame for the eventual lower sale price will fall on Amazon, which brick and mortar outlets already loathe, and S&S gets to look like a champion. Meanwhile, they are giving up a percentage of margin to help Amazon discount. Everyone wins. Especially the customer.”

The Wall Street Journal reports: “Douglas Preston, a Hachette author who heads Authors United, a group of more than 1,500 writers that has publicly pressured Amazon to reach a deal with Hachette, said he wants to know whether Amazon has offered Hachette the same terms as Simon & Schuster.”

CNN.com probes: “Could both sides have really come away feeling good about the result? Maybe so — it could be a compromise in the best sense of the word. But it won’t quiet the complaints about Amazon’s behavior, most recently from The New York Times columnist Paul Krugman in a Monday op-ed.

‘By putting the squeeze on publishers, Amazon is ultimately hurting authors and readers,’ Krugman wrote. He concluded that ‘what matters is whether it has too much power, and is abusing that power. Well, it does, and it is.'”

Ursula K. Le Guin Earns Medal for Distinguished Contribution to American Letters

Ursula K. Le Guin - peoplewhowrite

Ursula K. Le Guin

Ursula Kroeber Le Guin has joined an esteemed list of writers including Toni Morrison, Joan Didion, and Philip Roth to receive the National Book Foundation’s Medal for Distinguished Contribution to American Letters. Harold Augenbraum, the Foundation’s Executive Director said of the writer whose career has spanned four decades, “She has shown how great writing will obliterate the antiquated – and never really valid – line between popular and literary art.”

Most recently, Le Guin has been in the news for her involvement with Authors United, a group of bestselling and high-profile authors pressuring Amazon to back down in its dispute with publisher Hachette and stop “refusing orders” of books published by Hachette. The New York Times‘ David Streitfeld wrote: “Referring to how Amazon is making Hachette books harder to buy on its site, [Le Guin] said, ‘We’re talking about censorship: deliberately making a book hard or impossible to get, ‘disappearing’ an author.'”

Richard Flanagan Has Won the 2014 Man Booker Prize

Richard Flanagan has won the 2015 Man Booker Prize - peoplewhowrite

Richard Flanagan

Richard Flanagan’s The Narrow Road to the Deep North beat out To Rise Again at a Decent Hour by Joshua FerrisWe Are All Completely Beside Ourselves by Karen Joy FowlerJ by Howard JacobsonThe Lives of Others by Neel Mukherjee, and How to be Both by Ali Smith to win the 2014 Man Booker Prize, worth £50,000. According to BBC.com, the chair of judges AC Grayling said he and his fellow jurors debated for three hours before reaching a majority decision. “The two great themes from the origin of literature are love and war: this is a magnificent novel of love and war,” Grayling said.

The Narrow Road to the Deep North, Flanagan’s sixth novel, is inspired by Flanagan’s father. A Japanese prisoner of war in the 1940s, the elder Flanagan was forced to help build the Death Railway between Bangkok, Thailand and Rangoon, Burma in 1943 to support Japanese forces. Over 100,000 people died in construction of the railway.

“He trusted me, he never asked me what the story was,” Flanagan told the BBC. The book took him 12 years to finish. “But I did talk to him often about very small things. What the mud was like, what the smell of a rotting tropical ulcer that had eaten through to the shin bone exactly was. What a tiny ball of sour rice would taste like when you’re starving, what starvation felt like in your belly and your brain.”

The day he finished the novel, Flanagan’s father, 98, died.

This was the first year the Man Booker Prize was open to English Language writers outside the Commonwealth. The Tasmania-born author remarked “In Australia the Man Booker is sometimes seen as something of a chicken raffle. I just didn’t expect to end up the chicken.”

Journalism Tips from Wall Street Journal Columnist Teri Agins

Teri Agins, author of "Hijacking the Runway: How Celebrities Are Stealing the Spotlight from Fashion Designers" - peoplewhowrite

Teri Agins

Fashionista.com got some great intel from Teri Agins, author of the new book Hijacking the Runway: How Celebrities Are Stealing the Spotlight from Fashion Designers, for aspiring journalists. Leveraging her 25 years reporting on the fashion business, Agins shares the stories behind some of her biggest pieces to drop some serious gems. Take note of the main points below, and check out the full piece on Fashionista:
LEARN YOUR WAY AROUND A COURTHOUSE
“…if you want to be a good journalist, you need to know how to use a courthouse, know how to read a docket sheet, know how to talk to judges and read through a lawsuit and see what you need to see.”

GO FOR A STORY THAT’S “GETTABLE”
“The first big story I did was in 1990 about this designer named Gordon Henderson, who was fighting with his financial backer, this guy named Ricky Sasaki. …I won an award for this story, because I found out his salary, I got some really inside stuff on them, and that story kind of put me on the map. It wasn’t like he was a big time designer, but it was a nice kind of inside look. So I always tell young journalists, when you’re trying to do a story, go for a story that’s doable. Yeah, it would have been nice to do that story on Karl Lagerfeld, or Oscar [de la Renta], or Calvin Klein and Barry Schwartz. But you know that story’s unbeatable.”

DON’T GET “PALS-Y WALSY” WITH YOUR SUBJECTS
“I always try to establish with a source that I am not here to sell your clothes, I am here to tell a story. …I also feel like, in the course of reporting sometimes, you’ll find something incendiary about somebody. At the Journal we had something called the no surprise rule. A subject or a source is not supposed to read a story and be surprised by it. If they wouldn’t come to the phone, we would fax them questions, if they wouldn’t take questions, we’d send them to their attorney. We would give them a chance. A lot of times, they’re going to be mad at it, and it’s just too bad.”

THE SCOOP MAY NOT BE AT THE A-LIST EVENTS
“Go to a lot of B and C events. The A events, you might not get invited anyways. But the B and C events, there might be more time to stand around and talk to people. …You want to get the story that everybody else doesn’t have. If you’re staring at the same fashion show at the same time, you’ll have the same story that everybody else has. You want to find the counterintuitive story that is going to resonate with people.”

Publishers Weekly: In 2013, Industry Salaries a Little Higher, Diversity Sorely Lacking

Last month, Publishers Weekly published results of their annual survey of publishing industry salaries. The survey included questions related to job security, and, for the first time, questions about racial diversity. A few of the findings below: Screen Shot 2014-10-11 at 11.33.22 PM Editors' salaries in 2013 via Publishers Weekly - peoplewhowrite Racial Diversity in the Publishing Industry_peoplewhowrite More survey results here.

Young People Say They'll Pay More For Print than E-Books

Millennials prefer print books to digital reads_peoplewhowrite

Part of the results Adweek yielded from a straw poll of 18-34 year olds in New York City.

Last week, Adweek.com posted results from a millennial-on-the-street poll that contradict the cliché of the “smartphone-addicted twentysomething who spends her free time posting selfies on Instagram, sharing BuzzFeed lists on Facebook and creating socially conscious hashtags on Twitter”. Nearly two weeks earlier, The Bookseller announced findings from their own poll. Both showed that young people (in the US and the UK) prefer reading print books to digital. Perhaps more telling for the future economics of book writing and publishing though, is that the millennials surveyed said they are not willing to pay print book prices for e-books.

“In our research,” explained Luke Mitchell, Director of Voxburner, the company that conducted the survey for The Bookseller, “70% said that £6.99 was a reasonable price to pay for a paperback but only 10% were prepared to pay the same for an e-book.” Mitchell added, “Online retailer Amazon was the most popular sales channel, used by 75% of respondents, but high street bookshops were also in favour, with 73% of young people choosing to buy their books through this channel. Some 37% purchase titles at supermarkets, 37% go to charity shops, 34% use independent bookshops, and 13% use online retailers other than Amazon.”

In their ongoing dispute with publisher Hachette over e-book prices, Amazon has said selling e-books to readers at lower prices than print books could actually be a boon to writers and publishers.

In an open letter to the industry via their website ReadersUnited.com, the Amazon Books Team explains:

For every copy an e-book would sell at $14.99, it would sell 1.74 copies if priced at $9.99. So, for example, if customers would buy 100,000 copies of a particular e-book at $14.99, then customers would buy 174,000 copies of that same e-book at $9.99. Total revenue at $14.99 would be $1,499,000. Total revenue at $9.99 is $1,738,000. The important thing to note here is that the lower price is good for all parties involved: the customer is paying 33% less and the author is getting a royalty check 16% larger and being read by an audience that’s 74% larger. The pie is simply bigger.

Knowing Our Worth

Laura Shine - peoplewhowrite

Laura Shin

The opening day of the Bindercon Symposium featured a thorough and thoughtfully put together presentation by writer Laura Shin. Speaking to a room spilling over with freelance writers, Shin shared proposed formulas for calculating an hourly rate as well as practical advice for efficient time-management, asking for a raise, and knowing when to say no to an assignment. So many of us writers/artists struggle with the financials of creating, and the turnout reflected a desire to not only sustain ourselves using our gifts, but assert our worth.

During the post-talk Q&A, one woman asked about how best to ask for more money. Her question brought to mind the recent piece on TheGuardian.com about Nobel Laureate Sir VS Naipaul. Reportedly, he dropped out of a literary festival appearance because his proposed fees were too low. The article suggests Naipaul had been booked to appear at the Ubud Writers and Readers Festival in Bali, but bowed out after his request for a $20,000 fee was refused.

Naipaul’s agent Andrew Wylie has a different story:

“VS Naipaul agreed to attend the Ubud Writers and Readers festival without honorarium, but regretfully withdrew when he discovered a conflict in his diary which could not be resolved. We have since been surprised to learn that the festival was selling tickets to any event, since the specifics of Sir Vidia’s involvement had not been agreed, and the contract had not been signed.”

Festival founder Janet DeNeefe says, “Sir VS Naipaul made an 11th-hour request for a $20,000 appearance fee that would have jeopardised the longevity of the UWRF and all of those involved”.

The actual story is their business, but what stood out in the The Guardian‘s post was this quote from Val McDermid:

“writers understandably get very angry when all the professionals–the people who do the programmes, the people who put up the marquee–get paid except the people who do the performance.’”

In other words, as Laura Shin repeated throughout her talk, knowing what to charge, negotiating a higher rate, and earning a sustainable living as a writer starts with knowing our worth ie the value of the work we are selling, and the time and skill it takes to create it.

The notes I furiously scribbled at Shin’s talk are below:

YOU KNOW YOU’RE READY TO FREELANCE FULL-TIME WHEN…

  • You are good at what you do AND people in a position to hire you know you’re good. i.e. you have clips or a portfolio and relationships with editors and hiring manager who get (and like) what you do.

CREATE A BUSINESS PLAN (AND UPDATE IT ANNUALLY)

  • Your business plan should include your professional goals e.g. I want to write for X number of new publications; I want to break into my dream publications; and it should include your financial goals. (How much do I currently make? How much did I make last year? Can I be more efficient? Can I raise my rates?)

BUILD A DETAILED BUDGET (KNOW YOUR “BAREBONES” NEEDS AND YOUR “DESIRED” LIFESTYLE)

  • Your budget should break down roughly as follows: no more than 50% toward essentials; at least 20% toward your financial priorities e.g. savings and retirement fund; and no more than 30% for discretionary items (e.g. socializing and entertainment).
  • Automate contributions to a retirement plan like a Solo 401(k), Roth, or IRA. (If you put $458/month away from age 25 to 60, you’ll have a little over $1 million to retire on.)
  • Save an emergency fund of 3-6 months’ worth of essential living expenses.
  • In addition to health insurance, you should have disability, renters’, and umbrella insurance.
  • Consider a “paycheck” account to manage irregular paychecks (when assignments are few and far between or checks don’t come when expected).
  • Your budget should factor in kill fees in case your editor decides to scrap the story you’ve worked on, as well as administrative and bookkeeping costs.
  • To earn $150,000 a year, for example, you need to earn $111.60/hour.
  • Set quarterly, monthly, and weekly goals to determine if you are on track to meet your annual goal; break the days of the month down and determine how much you will make that month based on assignments versus your monthly goal.

DEVELOP STRONG CLIENT RELATIONSHIPS

  • Build regular clients and dependable clients–they will be your bread and butter.
  • Be careful of regular clients though, they can keep your rates down. Letting go of regular clients can be scary, but can also open up your time to write for clients that pay more.

EXAMINE YOUR CONTRACT CLOSELY

  • Don’t be afraid to ask for more money or negotiate more favorable terms, if the first offer (based on your budget) doesn’t make financial sense for you.
  • If your contract allows it, consider re-selling work that has run elsewhere.

TIME IS YOUR CURRENCY

  • Calculate the amount of time you spend on your work including bookkeeping, administration, phone calls with your editor, webinars, twitter chats, giving interviews, etc. Efficiency is key to maximizing your income.
  • Track how much time you’re spending on a story versus how much you’re being paid. (Don’t think about word rates. Focus on how much time a piece will take you, then decide if it’s worth your time.)
  • Don’t let someone else’s emergency be your own. If your editor/manager requires you to rewrite a piece on an impossible deadline, instead of scrambling, let them know when you can reasonably meet the deadline.

MISCELLANEOUS

  • Find a specialty. Look for high-demand, low-supply areas.

Desperately Seeking An "Alt" Way to Express

Does postsecret.com qualify as alt lit? - peoplewhowrite

If postsecret.com’s posts qualify as alt lit, alt lit is great.

Gawker just declared alt-lit “dead“. Until I came across Kat Stoeffel’s article about the rape scandal that has rocked the alt lit world, I had never heard of the new literary genre. (Please read Stoeffel’s piece, by the way. It’s a necessary reminder that rape involves more than a stranger / date sexually violating an individual.) According to Stoeffel, alt lit’s writers “are known for employing the vernacular and flat affect of Gchats and status updates to create autobiographical fiction and poetry that lands somewhere between introspective and mundanely personal.” In a piece called “Alt-Lit is for Boring, Infantile Narcissists“, writer Josh Baines describes its creators, and fans less charitably. Lest there be any confusion, the link to Baines’ story reads: http://www.vice.com/en_uk/read/alt-lit-is-the-worst-thing-to-happen-to-literature. I’ve read a few examples on Alt Lit Press, and for the most part the pieces read as the earnest musings of a group of people exploring how to express themselves in a fresh way, in a generation drenched with expression. Never before have human beings had so many outlets for documentation and soliloquizing, and for those of us who have the privilege of multiple outlets at our disposal thanks to constant access to wi-fi and electricity, and semi-disposable time on our hands, there can be a peer pressure to publicly emote. If the proverbial “everyone” is on Instagram/Snapchat/Vine/etc, there’s an implied responsibility to share droll observations, razor sharp witticisms, and enviable photos on yet another account for the NSA to troll.  By contrast, deliberate anonymity can be both a luxury and a wise choice.

It’s exciting though to see this experimentation with storytelling, and to imagine how it could impact familiar mediums like the essay or book. Specifically with respect to the novel, Zadie Smith and Teju Cole have been vocal about their weariness with traditional forms. Whatever the genre, it comes down to the quality of the story. If it has that “Amen factor”, i.e. it makes you nod your head, close your eyes at a memory or feeling the writing conjures, and sigh, whether it is served up Gchat style or printed between the covers of a book that could double as a doorstop, it’s worth expressing.

Random House Bought Emma Cline's Debut (and Two To-Be-Written Books) for $2 Million

Emma Cline secures $2 million three-book deal from Random House - peoplewhowrite

Emma Cline

It’s exciting to know that amidst all the news of a contracting publishing business and the reality of shrinking book advances publishers are still passionate enough to drop $2 million on a debut author with few published credits. Emma Cline’s forthcoming novel The Girls, loosely based on the nine known murders Charles Manson and his followers committed in 1969, set off a bidding war among 12 publishers with Random House winning the Stateside auction including FSG.

“The frenzy was beyond me,” FSG editor-in-chief Eric Chinski told Vulture.com, “but Cline is very talented. Especially in light of how sensationalistic the premise of the novel is … it’s remarkable that the real heart of the writing is the friendship between two women.”

The book has also sold internationally, in Holland, England, Brazil, Poland and Italy, her agent Bill Clegg told the New York Times. “We have auctions going everywhere.”

In addition to The Girls, Cline is to write a short-story collection and another novel for Random House’s publication. Random House Executive Editorial Director Kate Medina said of the acquisition: “We fell in love with the way she writes.”

Cline’s fiction has appeared in The Paris Review and earned the literary magazine’s Plimpton Prize for Fiction. A fiction reader at The New Yorker, she has also contributed pieces to Oprah’s O Magazine and Salon.com.