STATUS: Leaving the office at 5 p.m. That never happens!
What’s playing on the XM or iPod right now? YOU AND I by Wilco
In good news, we’ve now gone through all our Random House statements from the spring with a fine tooth comb and I’m delighted to report that RH is not doing a wholesale change to their electronic book royalty rate on existing contracts; there was simply an error that was resolved promptly.
Contracts that have the royalty rate of 25% of retail will still have 25% of retail. Now, I have heard that they want to change any 15% of retail to 25% of net (which is actually to an author’s advantage per my previous blog entry) but I have not personally seen that so as far as I’m concerned, that’s simply a rumor for now.
As RH royalty statements are my fav in the biz and because they always resolve issues quickly, I’m back to happy.Tags: Random House