Pub Rants

Author Archive

What Is Old Is New Again

by Kristin Nelson

When I attend conferences, the most popular question at agent panels is this: “Where is the market going and what will publishers be buying?” I would love a crystal ball to predict the future and answer that question. This week, a realization hit and I may just have a glimpse into that crystal ball. Although it sounds contrary, writers looking for the next market trend in publishing need not look any further than to publishing trends of the past. Oddly, what is old might just be new again. Here’s why.

Last month, my brilliant client Gail Carriger was a keynote speaker at Rocky Mountain Fiction Writers. Ensconced at the hotel bar, as people often find themselves at writer conferences, Gail and I chatted with several attendees who came over to hang with us. Gail made a brilliant observation about a pop-culture show just sweeping the world. She said, and I’m paraphrasing here, that Squid Game was Battle Royale for a new generation that had never seen that original show. Huge realization moment for me. In the last couple months, I’ve been reading deal announcements for so many stories that just feel familiar to me. Bam! Of course. Old stories can always be expressed with a new angle or twist and made new again for a new generation. So even though I’d seen similar concepts previously—hey, I’ve been agenting for two decades—those concepts are totally new for agents and editors who have arrived on the scene in the last couple years. 

Back in the early 2000s when I got my start, the industry was in the throes of a chick-lit trend. (That term hasn’t aged well, but that’s what it was called then.) I argue that we are in that trend again (sans the term), this time with even more fantastic stories that are diverse and inclusive. Think Real Men Knit by Kwana Jackson, A PHO Love Story by Loan Le, The Proposal by Jasmine Guillory, The Bride Test by Helen Hoang, Girl Crushed by Katie Heaney, and Red, White & Royal Blue by Casey McQuiston. This trend is back and, dare I say, better than it was twenty years ago. What is old is new again. 

Another example: Back in the mid-2000s, in the young-adult space, paranormal was all the rage. Editors couldn’t buy enough vampires, fallen angels, and werewolves. Then the market became saturated. Now here we are a decade+ later and this trend is cycling back around. We here at NLA are seeing a lot of paranormal elements creeping back into queries. Stories are hitting shelves again in this space as well. Think The Beautiful by Renée Ahdieh, Crave by Tracy Wolff, The Belles by Dhonielle Clayton, Shadowshaper by Daniel José Older, Payback’s a Witch by Lana Harper, and The Coldest Touch by Isabel Sterling. The genre is being reinvented by a new generation of storytellers for a new generation of readers.

Is it worth doing a little research on the old world wide web (I cracked myself up typing that phrase) and diving into what might have been hot in the mid-2000s to see what could be coming back around as a trend? I say why not. There are no new stories under the sun, but there are always, and I mean always, new ways, new twists, new perspectives on how to tell those stories. Happy researching. 

Creative Commons Photo Credit: Mic JohnsonLP

Content Creators Deserve a Larger Slice of the Earnings Pie

by Kristin Nelson

The verdict is in. With headlines such as HarperCollins Sales Near $2 Billion and Publishing Sales Jumped 18.1% and First Half Profits Soared at Penguin Random House, it’s clear that at least in term of earnings, Covid is not having a negative impact on publishing. I should be thrilled. My industry is sound. This is good for authors. Time to celebrate. Right? Yet, I’m grumpy. Here’s why. 

I’m glad that the future picture of publishing is rosy. I just wish there was movement in the industry to share that financial rosy picture with the content creators who make it possible. The opposite is happening. Royalty share to authors has contracted in the last five to seven years. 

A few examples:

For YA and children’s deals, when I first started in this biz, it was common to negotiate royalties for a project starting at 8% with an escalation to 10%. Now that royalty structure has gone the way of the dinosaur. Publishers hold the line at 7.5% (excepting grandfathered-in authors with higher royalty structures). All this despite the children’s segment being a huge revenue-growth sector for publishing for the last decade. As publishers earned more, authors received a smaller piece of the earning pie with this reduction in royalty. 

In the mid-2000s, Random House used to pay an ebook royalty of 25% of retail price until advance earn-out, and then it switched it to 25% of net receipts (which roughly equals about 17% of retail price). And there were deals where publishers offered 30% or even 40%. That went the way of the dinosaur, too (except for the highest echelon of established authors). And to be clear, I’m talking about traditional publishing here. Plenty of smaller, indie, electronic-only houses probably still offer those kinds of rates. 

The death of the mass-market format. This used to be a whole other royalty revenue channel for the author. It’s mostly just gone now (and ebook sales do not make up the difference). Despite the trade-paperback format becoming king and increasing earnings for publishers, there is no movement from the 7.5% flat royalty rate in over two decades. Two decades. Probably longer. 

And then there is audio. Earnings from this format have skyrocketed in the last five years. Yet here we are at 25% of net receipts for digital download and publishers “insisting” they must control audio rights when agents used to partner with audio-only publishers and would still prefer that. 

So yep. I’m grumpy. 

To add insult to injury, lemon juice to the wound, or insert another catchy phrase here, agents often heard several variations of the following this past year:

  • Because of Covid, we have an abundance of caution and that is reflected in the advance we are offering.
  • Because of Covid, sadly we’ll not be able to pick up this author’s latest option material.
  • Because of Covid, we are not supporting (translation: spending any money on) in-person events.

The litany is that publishing profit margins are “slim,” costs of printing are higher now, etc., etc., etc. Yet these recent headlines paint a different picture. And although Publishers Marketplace recently reported that at long last, advance levels are on the rise for the last quarter of 2021, the advance is only one part of the publishing-earnings pie. A book doesn’t exist without the content creator. The author. I’d love to see a headline that proclaims a publisher is offering authors a bigger slice of that earnings pie. Now that would make me smile.

Photo by Cats Coming from Pexels

Velocity, Volume, Interval, and The New York Times Bestseller List

by Kristin Nelson

On August 25, 2021, Richard Chizmar’s debut novel Chasing the Boogeyman hit the New York Times Bestseller list at #10. It was a huge milestone in my agenting career, an achievement I never imagined when I opened NLA in August 2002. It was my 50th New York Times bestselling client title. Amazing indeed, but self-congratulating isn’t much of an article. A good article is divulging just how a book might hit the NYT bestseller List. And sharing now what I wish baby Agent Kristin had known then. 

First, a caveat. Talking about the NYT list is kind of like talking about unicorn sightings. The real science behind why a title hits the list is not transparent to publishers, agents, or authors. The NYT algorithm and tracking methods are proprietary information, so to be clear, I actually don’t know why or how any given title lands on the bestseller list. This article is simply a compilation of my observations after having 50 client titles hit that list. 

Velocity, Volume, Interval

If memory serves, my very first title to hit the NYT bestseller list was Ally Carter’s I’d Tell You I Love You But Then I’d Have to Kill You in 2006—just four years after I opened the agency. For baby Agent Kristin, that NYT appearance was a complete surprise. I had no clue it was even a possibility, which just makes me laugh at my own naiveté. As an agent now, I have a very good sense of whether or not a title has the potential to hit the list. Certain factors have to be in play for even the possibility of a hit, and it all relies on velocity, volume, and the interval. 

In other words, in order for a book to hit the NYT list, that title needs to quickly sell (velocity) a high number of copies (volume) during a one-week time span (interval). If a book does those three things, it has a very good chance of hitting the list. 

The Indicators

As an agent, what gives me an inkling that one of my client titles may be positioned to make an appearance on the list? Four factors:

  • Print run. A title needs a high number of physical copies going out into the world so that physical sales can happen. And yes, I know folks reading this article would love exact numbers (just how big does the print run need to be?), but honestly, this varies a lot. I’ve seen titles hit with a 100,000 print run (the bigger the number, the better), but I’ve also seen titles hit with only a 30,000 print run. There is no magic number here as other factors come into play.
  • Reprint before publication. If a publisher has to reprint a title before it’s even published in order to fill early demand, this indicates that excitement and interest for a title is building.
  • Pre-orders. The higher the number of pre-orders a title has, the better the chance. The pre-order number varies greatly depending on whether a title is set up to the hit the adult-hardcover list, the adult-paperback list, or the children’s list. With King, Patterson, Moriarty, Childs, and Steele all taking up regular space on the adult NYT list, and with those authors’ titles selling 20,000+ copies a week (according to Bookscan), you can start to get a sense of just how many copies of a book need to move in the first week to land on that adult-hardcover list.
  • Marketing spend. Awareness of a title has to happen for momentum. In publishing, marketing is where the publisher spends money to create awareness for a book. Publicity is exposure that is free. The bigger the marketing budget is for a book out of the gate, the better the chance. However, this isn’t always true…

The Surprises

Publishing is full of wild-card moments. That’s what makes this industry so much fun, impossible to predict, and full of joyful surprises. One of my bestselling YA titles of my career is Simone Elkeles’s Perfect Chemistry. This title had a modest beginning with a small print run and a minimal marketing budget. But that original cover and fan love propelled this series to selling over a million copies. I also think a lot of fans think Perfect Chemistry is a New York Times bestselling title, but the reality is that it was book two, Rules of Attraction, that hit the NYT list for the first time in 2010. When Chain Reaction released a year later, that put the trilogy on the series NYT bestseller list. Technically, the first book never actually hit the list. 

Twenty-six editors turned down Jamie Ford’s debut novel Hotel On the Corner of Bitter and Sweet. That book went on to spend 130 consecutive weeks on the NYT bestseller list. That’s 2.5 solid years on the list. I still can’t wrap my head around that. 

The Naiveté 

When I was a baby agent just starting out in the biz, I thought a New York Times bestseller meant the title was selling King, Winfrey, or Rowling levels. I also assumed that hitting the list would ensure riches for both author and agent. 

Wow, was I clueless. An NYT hit is fabulous, and often it does mean that the client will earn out the initial advance. It is not, however, a guarantee that earn-out will happen. And although for some clients hitting the list has led to financial stability in writing as a career, it does not automatically equal life-changing riches.

The Movie Effect

With the “New York Times Bestseller” moniker, instead of happening at once, sometimes it happens at last. Bird Box by Josh Malerman is that one client title that I felt in my bones should have hit the list out of the gate in 2014. I was just flat out wrong. It would take four years, Netflix, and Sandra Bullock to make that title into the NYT bestseller that I always knew it to be. 

Publishing. A giant mystery. Thank you for letting me celebrate 50 with you. I have a sneaking suspicion that number 51 might be just around the corner.

Creative Commons Photo Credit: Carol VanHook

14 Reasons Agenting Is Harder Now Than 20 Years Ago

by Kristin Nelson

Lurking on Twitter, I stumbled on a thread of agents contemplating whether they should stay the course in this career. Some of the chatter echoed a conversation I had just weeks prior, where I said, “Agenting today is way harder than when I started agenting twenty years ago.” Just like that I sent out a request for input from agent peeps asking if they thought this was true. An earful hit my inbox. The consensus? Yes, agenting as a career is significantly harder than it was when we were baby agents. Here are fourteen reasons why.

Before I dive in, the requisite disclaimer: The information contained in this article is purely anecdotal and does not claim to represent an appropriate dataset for completeness, accuracy, usefulness, or even timeliness. I emailed a bunch of agents I knew, asked a question, and folks responded. That’s the level of “research” I did. This article is definitely not intended to be advice or a substitute for advice from, you know, a real expert or professional on the topic nor should any reader make a career decision or follow a particular career strategy based on content here. For further guidance, feel free to shake a Magic 8-Ball. 

More Agents Agenting

Although the Writers Market phone book was huge back in the day, the number of agents actively agenting and doing regular books deals is higher today—especially in children’s and young adult—than it was twenty years ago. I recall only about thirty of us repping in the field in the early 2000s. I don’t know the number today, but it’s probably 100 or more. Also, many editors have made the move to agenting in the last five years. With more agents in the field, more submissions are hitting editor inboxes. (Conversely, there are also more agents leaving the industry. Not a week goes by that I don’t receive a query that begins, “My agent has recently left the industry so I’m looking for new representation.”) Still, the bottom line is that more agents are agenting in 2021. 

Agents Acting More Like Editors

A project has to be close to perfect for a buy, so an agent today is doing far more editorial work pre-submission than back in the day. In the early 2000s, many an editor would take on a super promising manuscript and do the editorial work after acquisition. Today, it’s more common for an editor to request what is called a revise and re-submit—which places the onus back on the agent and author to gussy up the manuscript in hopes of an actual acquisition. 

This is a large time investment that may or may not result in a buy—and the subsequent earned commission, which is the only way an agent gets paid. 

Crowded Social Media Means Lower Agent Visibility

In 2006, I launched the blog Pub Rants. There were only two other literary agents blogging then. (Remember the amazing Miss Snark and her George Clooney crush? Such fond memories!) As one of the first agents to really spend hours educating aspiring writers and providing insider information for free on my blog, I was happy to see Pub Rants grow in popularity. At one point it was listed as the top 100 most influential blogs in the U.S. Glory days indeed. Blog Pub Rants = Visibility. These days, Facebook, Twitter, Instagram, and TikTok are crowded with social-media savvy agents and editors. That makes it much harder for agents to create visibility for their brands or stand out and land the hot projects.

The Marketing/Publicity Agent Hat

In today’s publishing landscape, agents have to do so much more marketing/publicity management to optimize client success. This limits the number of clients an agent can take on and work with successfully. Since agenting is commission-based, fewer clients means fewer sales, and that can impact an agent’s earning potential. 

The Taskmaster That Is Email

The sheer number of emails an agent fields in a day is impressive. For me, three hours minimum just reading, responding, handling everyday agenting tasks. Then I take a deep breath and dive into the actual to-do list. Three hundred emails is a light day. Dedicating so many hours to this necessary business task impacts how many hours are available for other aspects of agenting. When I started my career, email was certainly around, but it was used secondary to a phone call, and when it was used, editors would often email once a week with a summary round up. The pace of business is simply faster now with immediate responses often necessary. Not to mention editors of the current generation who are comfortable with the immediacy of email communication. There is no going backward, but email volume does make agenting harder in terms of a daily workload. 

Going Indie

Authors might start in the traditional publishing realm and then move indie—which eliminates a source of income for the agent. As most folks know, I’m hugely supportive of authors and indie publishing, but the loss of talent to the indie sphere does impact an agency’s bottom line and makes an agenting career more difficult to sustain. 

Publisher Payment Mandate

In the early 2000s, every contract I negotiated specified advance payments in halves: half on signing and half on delivery and acceptance of the manuscript. An agent earns the commission at the same time a client is paid. Publishers are now citing “corporate mandates” that payments must be structured in four or five installments—and some of those payments aren’t coming in until after publication…which makes it no longer an “advance,” but that’s a topic for another day. Not only does this structure impact an author’s financial well-being, it impacts an agent’s ability to earn a living. Imagine negotiating a contract today and knowing that a portion of your commission won’t be paid for two years. Yep. A get-rich-quick path agenting is not. 

The Great Contract Slow Down

Publishing houses need to double their contracts departments. Most of them have two or maybe three people total for the hundreds of contracts they do in a year. Back in the day, I’d wrap a contract in eight weeks tops. Today, if the first draft arrives within four months, it’s a win. And then the agent still needs to review and negotiate it, all before the author signs. Six months is the new norm to fully executed. So add that into the agent’s earning timeline along with payment structures in fourths and fifths. The real question is, just how is an agent earning a living?

The Great Publishing Contraction

Just this week, news hit that Hachette is buying Workman. Yet another independent publishing house bites the dust. Consolidation of pub houses = limited submission options. Limited submission options = titles less likely to be acquired. Titles less likely to be acquired = less revenue for the author and the agent. This alone makes agenting a harder career. 

The Great Submission Influx

Spend a little time on Twitter. Just a quick lurk will reveal that editors are drowning in the number of submissions they are receiving since more agents are submitting material. When I started agenting, I’d receive almost all editor responses within four weeks. Today, months is not unusual, and the number of no-editor-responses has risen significantly. Slow or no editor response = manuscript less likely to be acquired. Manuscript less likely to be acquired = reduced number of agent deals. Reduced number of agent deals = lower commission earning. Lower commission earning = harder to attain agent career success.

The Death of Editor Autonomy

Back in the day, individual editors had more autonomy to acquire a work/author. They connected with their boss, and that one person said yay or nay. In today’s world, a project submitted to a publishing house has to go to second reads, then editorial board, and then it has to run the gauntlet with sales and marketing for the final verdict. It actually feels like a little miracle any time a book sells. 

Blockbuster Mentality

In the early 2000s, it was understood that any newly launched author might need space and time to grow. Historically, authors weren’t expected to conjure bestsellers straight out of the gate, but to build their writing skills and audience over time as they developed their craft. Now, if a debut doesn’t do well, it is extremely hard to get the author a second chance. This is compounded ten-fold if the initial deal had a high advance. That means the agent must work extra hard to relaunch that client and will again face a low return on the hours they invest.

The Death of The Mass-Market Format

Back in the day, so many agents got their start representing authors in romance, mystery, and urban fantasy—all genres traditionally launched in the mass-market format. Fantastic glory days were when I would sell in a debut romance author for six figures. Today, with the death of the mass-market format, a whole swath of a viable market and its associated earnings disappeared for agents. The replacement ebook edition has not enjoyed the same robust earnings impact.

The Change That Hasn’t Happened

Publishers, despite emphasis on social change in the last couple of years, have not expanded their readership outreach or marketing to reflect the current cultural landscape. This continues to mean fewer opportunities for agents and authors of Color. This should be the one area where it’s better for the agents of today, and it’s not. 

So Magic 8-Ball, is agenting harder today than it was twenty years ago?

Answer: Without a doubt. 

Photo by Tara Winstead from Pexels

When the Author Dream Is No Longer the Dream

by Kristin Nelson

In fifteen years of researching and writing articles for Pub Rants and the NLA newsletter, I’ve never seen an agent tackle this topic. Many newsletter readers subscribe solely for tips and insights on how to land an agent and fulfill their publishing dreams. But what happens to all those writers—and there are many—who landed the dream and then decided it wasn’t right for them? What made them choose to leave this career?

As an agent who has responded “no” to tens of thousands of writers over the last twenty years, I definitely understand that aspiring writers spend a lot of time and energy on the beginning of the journey. The first steps are mastering writing craft, landing that perfect concept, writing and finishing the novel, and then investing countless hours finding an agent or publisher. I won’t even touch on the hundreds of rejections writers face during this process. Writers in the throes of submissions probably find it mind-boggling that someone who got in the door would turn around and walk back out. Why would a published (and in many cases, successful) author deliberately choose to no longer be an author? Here are six reasons given by authors I’ve known and worked with, and these reasons can be illuminating for aspiring writers.

“I’m a one-book author.”

Some writers have only one book in them. This is not an issue of having too few ideas; it’s simply that these authors said what they came to say, and that was enough. Once their book is published, their dream is fulfilled. Other one-book writers came out of the gate with a literary masterpiece, and either they feel no need to try to top it, or they know how harshly their sophomore effort will be judged by critics and readers. Either way, the one-book masterpiece can feel like a good place to stop and turn to other pursuits.

“My career has run its course.”

One of my authors published five successful novels and one work of nonfiction in a hot trend of the time. When that trend ended, other stories simply didn’t interest her, and other exciting non-writer career opportunities beckoned. She hung up her pen with no regrets. 

“I’m uncomfortable in the spotlight.”

Very few authors can pull a Salinger these days and be both famous and reclusive. Today’s writers are expected to build and maintain a public presence on social media and show up in-person at major events. One of my authors, a private individual, felt constantly exhausted by this expectation. When this author had one tweet go viral, the sudden spotlight made this person rethink the whole writing-career path. With the completion of the publishing contract, this author decided that the publicity side of writing as a career was a deal breaker. 

“The publishing industry is a mess.”

Currently, many conversations are being held in the internal sphere about lack of representation of BIPOC and other marginalized voices. Change is happening, but like all things in publishing, it’s happening at a snail’s pace. For a lot of authors of color, it’s too little, too late. After several mediocre publishing experiences (no marketing budget for the release, odd shelving in bookstores—why would a fiction title be shelved in African American Studies?), I personally know several authors of color who chose to set aside their pens.

“Life got in the way.”

Some authors loved the dream and experienced extraordinary success only to have personal tragedy, illness, or other trials play the trump card. Writing careers sometimes get sacrificed so the author can simply survive. 

“It’s time to retire.”

As hard as it may be to believe, after a long career, some hardworking writers are just ready to rest. People get tired, and that can make the dream less dreamlike.

When that moment happens, it takes courage and strength to recognize, acknowledge, and embrace the end of this life chapter. Just on the other side lies contentment, freedom, and maybe even happiness. 

Photo by Anete Lusina from Pexels

Is It Time to Gather…at a Writers Conference?

by Kristin Nelson

Zoom culture definitely opened up the ability for writers, where ever they reside, to attend wonderful writers conferences across the nation and around the globe. I participated in a few myself. Still, nothing beats the personal interaction and camaraderie of spending a weekend ensconced in an intimate hotel setting with a hundred-plus other writers, agents, and editors. Are you ready to gather again? Here are four questions to ask yourself. 

Question 1: Do you have an at-risk person in your immediate family or gather bubble? If so, 2021 might not be the year for an in-person conference. Although we would like to think that other attendees will monitor themselves accordingly and stay away if sick, this is not a certainty. It would also be great to assume that everyone attending will be vaccinated, but conferences will not be policing that. It really is on the honor system. If I had an at-risk person in my life, a big conference would feel too risky for me. In the past, I washed my hands multiple times a day anyway and always kept hand sanitizer near, since conferences were dubbed “coldferences.” As an agent, if I were going to get the cold or flu, I would most likely get it right after an industry gather. In fact, I always returned from the Bologna Children’s Book Fair with some kind of cold. Inevitable, despite dosing up on Echinacea and keeping Emergen-C handy. 

Question 2: What is your threshold for people in your immediate space? Writers conferences mean a lot of people in small spaces. The hotel bar is always crowded in the evenings, and such bars are often not spacious. Although terrific for networking, that means folks may be talking within a foot of you. As we know from the six-foot standard social distance during Covid, droplets spray when someone is talking. It will be inevitable. Not too mention the lunch gather will be at a round table with at least six or eight other attendees Then there are agent pitch sessions, where you’ll sit one foot across a table from an agent to pitch your story. Rick Springfield might suggest “Don’t Talk to Strangers,” but at a conference, there’s no way around it. (Although I’d like to advocate for plexiglass partitions, like what grocery stores have.)

Question 3: What is your capacity for not observing standard American social niceties? At every conference I’ve attended, writers introduce themselves by extending a hand for a handshake. Personally, I’ve always felt that the Japanese were on to something with the steepled hands and a formal, short bow instead. In a post-Covid world, I’m not as interested in hand-shaking. And don’t even get me started on the European tradition of cheek pecking at the Book Fairs. At a conference, you might have to hold your ground and decline certain traditions. Definitely be sure to feel comfortable with your capacity to do so. 

Question 4: What is the cost-benefit ratio for attending in-person versus virtual? If you’re going for craft guidance and instruction, virtual may still fill the need. If you are craving the human connection, then weigh the factors of catching a cold, flu, or worst-case scenario, Covid. 

Just yesterday I discovered that a gal in my immediate circle who has been fully vaccinated for Covid started having flu-like symptoms after flying. A rapid test proved she is Covid-positive. Vaccination is not foolproof armor. 

Something we all need to keep in mind as we start to gather again. 

Game? Here are some Upcoming Colorado Gathers:

Writing in the Wilderness – July 16-19, 2021 Retreat

Rocky Mountain Fiction Writers Conference – October 15-17, 2021

Murder in the Mountains – October 29-31, 2021

Photo by Leah Kelley from Pexels

Hey, The Publisher Might Need It Again. Someday.

by Kristin Nelson

Like your grandmother who couldn’t get rid of that semi-broken toaster because she might need it again someday, publishers have a surprising number of obsolete and defunct clauses hanging out in their publishing contracts.  Most just elicit a chuckle, but at least one can greatly impact an author’s earnings.

The publishing landscape has shifted so radically in the last decade, especially with the rise of ebooks and downloadable audio. Publishing contracts should shift to match. But like your Depression-era grandmother, publishers are loath to get rid of old clauses they’ve had for decades—even though the publisher will not invoke that clause in any foreseeable future I can imagine. Most of these clauses hang out in the subrights section of a publishing agreement. 

My favorite? The publisher’s right to sublicense electronic book rights. Back in 2002, when I first started in the biz, there was a scrappy little electronic publisher called Rosetta Books. Although hard to believe, in those early days right before the electronic shift, some publishers did indeed sublicense electronic book rights to this third-party publisher. In today’s landscape, there isn’t a publisher on the planet who would sublicense electronic rights when such a major chunk of their own profit comes from sales of this format. Why would they share? And yet, if you look at the sublicense section of our pub agreement, the publisher still has the right to sublicense this format to a third party (though we as an agency add “by author approval”). But hey, the publisher might need it again someday, right? So there it stays. 

Also going the way of the dinosaur (sadly, in my opinion) is First Serial. In short, first serial is the publisher’s right to license an excerpt from a novel to a major newspaper, magazine, or other outlet. Think back to when Cosmopolitan or GQ featured up-and-coming authors by printing a chapter or two of their forthcoming novels. But now so many magazines have disappeared (or gone solely online). With that, publishers shifted from licensing first serial to simply allowing an approved excerpt to be posted on top sites as a publicity push. That means no licensing fee. Yet lo and behold, there in the subrights section of a pub agreement is the first-serial clause with a 90/10 split in the author’s favor. (As an aside, you’ll also see a publisher’s right to sublicense mass-market rights—something I’ve never seen a publisher do in twenty years of agenting. But hey, might happen someday, right?)

But the one legacy clause that can bite the author in the you-know-what is the short-print-run clause. So be on the look out for it. What does short print run mean? Originally, after a publisher launched the initial print run into the world (which could be around 5,000 or 10,000 copies or more), it was expensive for a publisher to order a “short” print run, like 500 copies to ensure the title remained in-stock for buyers. Now with print-technology shifts (i.e., print-on-demand), the cost remains fairly static—even for a small print run. The clause originally allowed the publisher to reduce the royalty to the author for said short print run. But today, why should the author have to accept a lesser royalty rate when the publisher did not foot an additional expense? Right. They shouldn’t. 

Most publishers have removed that clause (finally acknowledging it no longer applies), but occasionally I spot that kind of language in a contract and it needs to be handled.

Also, if you missed this news, the Authors Guild made its model book contract public for anyone to read and access. So happy contract reading. 

Photo by 幻影 3D from Pexels

Publishing House Mergers: A Non-Love Story

by Kristin Nelson

As a demographic, veteran literary agents are partial to opening sentences that begin with “back in the day.” Nothing signals “old” more effectively than that phrase. It implies that the good ol’ days were somehow better. The reality is that we veterans probably just have selective memory and there is no such thing as good ol’ days. However, in the case of the great publishing-house contraction that is unfolding, I might be in danger of embracing the notion that “back in the day” truly was better. 

News just hit that Newscorp is buying Houghton Mifflin Harcourt. For those not super familiar with the various corporate umbrellas of publishing, Newscorp owns HarperCollins/Harlequin so buying HMH will significantly expand the HarperCollins footprint. In November 2020, news dropped that Penguin Random House (already the biggest publisher) is buying Simon & Schuster—which makes the biggest publisher even bigger. 

Well, back in the day (tongue firmly in cheek) when I first started agenting, I distinctly remember having conversations with then-twenty-year veteran agents who had fond memories of the early 1990s, when more than 300 separate and individual publishing outlets were available for client submission. That number kind of blew my mind. Many of the imprints we now associate with, say, Random House used to be private companies that have since been acquired and folded into the parent company. Macmillan is another excellent example. After all, Farrar, Straus and Giroux, St. Martin’s Press, Henry Holt & Co, and even Tor used to be individual companies before they were bought up to become part of what we now know of as Macmillan. 

By 2022, we will be down to The Big 4 (Penguin Random House, Hachette, Macmillan, and Harpercollins) plus a smattering of some mid-size but growing independents. And that’s it. 

This contraction significantly impacts writers an authors, and here’s why:

  • Merging companies always declare that the houses will be run separately. This was certainly the case when Random House bought Penguin more than five years ago. Now these “separate publishers” exist under the same roof, use the same publishing contract, and operate under merged accounting and royalty systems. It is, in essence, almost like one house even though agents can still submit separately.
  • When publishers merge, there are often new mandates regarding how those houses will participate in auctions and submit bids. Some houses stipulate that imprints can no longer bid against each other. So if several imprints are interested in acquiring a project, they communicate and form a “house bid” (which is where all imprints propose one bid to submit in the auction, and if it is the winning bid, then the author can choose which editor/imprint to work with). This removes competition from the auction and lowers advances, which translates to less money for the author.
  • The merging of publishers results in the must-acquire-blockbusters-only mentality. Tighter budgets means fewer books will be acquired, which makes editors less likely to take chances on unique, creative voices—authors with talent who might not break out until their fourth or fifth novel. In other words, there is less focus on building an author and more focus on acquiring the obvious “big” book—which limits the diversity of unique stories in the world.
  • Contraction squeezes out the mid-list author—the author who’s not a blockbuster but whose sales might be humming along nicely. How? Because it makes the publisher less likely to pick up their option material. This precludes the possibility that a mid-list author’s third or fourth book might have been the one to break out. Not to mention, if the agent must shop the author anew, the current house (and all those imprints) are off the submit list. That equals fewer outlets where an agent can place that author and relaunch that author’s career.
  • Contraction eliminates editorial positions. Smaller staff equals fewer editors equals less diversity and narrower taste in what gets acquired. Also, smaller staff equals fewer editors equals those editors getting way more submissions from agents. Editors are already strapped for reading time and inundated with submitted manuscripts. The sheer volume makes it hard for any debut project to stand out in the crush—reducing a new writer’s chances of getting a foot in the door.
  • Contraction equals less-author-friendly publishing contracts. Fewer houses at which to place a client means publishers have the upper hand when it comes to dictating the terms, and agents have less negotiation leverage. 

This list could go on and on, so these are just a few reasons why I’m not excited by the currently unfolding mergers. Publishing is a tough business. Publishers feel pressured to grow so as to create greater profits and stronger bottom lines and to compete against other behemoths such as Amazon. I get it, but I don’t love it. 

Back in the day, there were dozens of terrific outlets at which to place a new client, to reinvent and reignite a mid-list author, or even to move a big client if needed. I am waxing nostalgic for those good ol’ days. 

Creative Commons Photo Credit: Images Money

One Easy Way to Verify if an Agent is Legit

by Kristin Nelson

With so many stories emerging of agents behaving badly, if only there was a quick and easy way for aspiring writers to verify a literary agent’s legitimacy. What a boon for new writers navigating a complicated publishing landscape. In good news, there is. 

The job of a literary agent is an unusual one. This isn’t a profession that one learns by going to college (although almost all agents have college degrees and many might have attended a Publishing Institute program). This isn’t a profession where accreditation is required, such as passing the bar for attorneys (although many agents are also lawyers). Any person can literally hang out a shingle and claim they are a literary agent. Because of that, many Schmagents have lured in unsuspecting writers. However, there is an organization that does govern this profession: the Association of American Literary Agents (AALA). 

Initially founded in 1991 under the name Association of Authors’ Representatives (AAR), this governing body was implemented to form bylaws and a canon of ethics that member agents are required to follow—thus creating a standard of working in the profession. Membership is by application only. An agent must fulfill the professional qualifications and submit letters of recommendation for entry. 

In 2020, AAR began the process of rebranding to the AALA (as there is a sister organization in the UK)—hence, both websites are currently active as the transition unfolds. This rebranding is reinvigorating the organization, which is now much more focused on agent education (via monthly programming), mentorship, and promoting diversity in our ranks. All very much needed and delightful to see. As a new-to-the-biz agent in 2002, one of my first goals was to fulfill the qualifications criteria so I could become a member. After all, I was a mostly unknown agent operating out of Denver. For me, AAR membership was a stamp of legitimacy to ease the minds of writers considering me when I offered representation. 

Currently, the AALA member directory is a tool that writers can use when doing agent research to verify an agent’s legitimacy. If an agent is a member, they do have to adhere to the AALA’s bylaws and canon of ethics or they will be asked to relinquish membership. 

Now, having said that, here are several things to keep in mind:

  • Not all legitimate agents are members of the AALA. Membership is by choice and not required.
  • Just because an agent is a member does not mean they are an agent with good negotiation skills or that they fulfill other criteria that I outline in my What Makes A Good Agent article series (see right side bar). There are many agents who qualify to be members but might fall under the heading of Hobbyist or turn out to be a Blindsider.
  • An agent who is a member might be a good agent but not a good agent for you. 

The existence of this organization, and searching through the membership profiles, is just one piece of the agent-search puzzle. It does not take the place of all the other research you should be doing on the agents you plan to query, which should include their sales record and current client list. Writers, good luck on your representation quest. 

Three Agent Types to Avoid… and the One You Won’t See Coming

by Kristin Nelson

Whenever a new story breaks about an established literary agent behaving badly, I cringe. Although I’m not personally responsible, it’s another black-mark moment for this profession that I love. So what responsibility do agents have to protect writers, and what can writers new to the publishing world do to protect themselves?

The answer is surprisingly simple: be armed with knowledge. Agents with integrity should provide information in a public sphere whenever possible, and many do via Twitter, blogs, and newsletters. Writers should gather all they can but also know that things change. Be kind to yourself, as it might not be possible to have “known better” if an agent partnership does not go as planned. 

As an agent who has spent the last fifteen years putting information out there for writers (since I started Pub Rants in 2006), I hope to arm you with info about agent types you might want to avoid. By the way, I highly recommend that writers looking for an agent have a subscription to Publishers Marketplace, where you can do your research. A lot of heartache might be avoided with a little time spent there.

The Schmagent

This type of agent is easy to define. This scammer pretends to be an agent, charges fees for everything a normal agent just does as part of the job (i.e., reading fees, submission fees, marketing fees, etc.). The red-flag word here is “fees.” When writers spot that, it’s an instant tell that the agent isn’t legit.  In 2013, Victoria Strauss of Writer Beware and I were expert witnesses for a lawsuit to take down a scammer masquerading as a literary agent. This person fleeced unsuspecting writers out of hundreds of thousands of dollars. (It’s lucrative, which is why there are so many schmagents out there.) It’s a bit like whack-a-mole, but we put this one out of biz. By the way, Victoria is a tireless advocate for writers, and she doesn’t get enough props for everything she has done and is currently doing. Send her a note, or better yet, buy one of her books. It’s thankless, time-consuming work, and she is an amazing human being. In the internet age, this type of agent might be easy to spot, but scammers still snare unsuspecting writers all the time. If this describes your experience, don’t spend time berating yourself. Scammers are pros at what they do. 

The Hobbyist

This type of agent might mean well, but they pursue this profession for the “celebrity” of the job. This might not make them a bad agent per se, but it also means they probably aren’t a great agent either. How do you spot one? Well, this can be tough. The Hobbyist might have a great presence on social media, but if you dig in to the research (thank you, Pub Marketplace), the Hobbyist will not have a strong track record of sales or will only do deals with small presses or for digital rights only. And so I’m clear, there is absolutely nothing wrong with doing deals with small and digital publishers. I’ve done many in my career, but they should be balanced with regular/bigger deals to Big Five publishers and the well-established indie publishers. 

The Greenie

Some agents might have integrity but are simply too green (and don’t have access to mentorship) to be able to advocate for a client.

Back in 2008, there was an agent who racked up many six-figure deals under her own shingle. She came on the scene quickly, and after two years, exited quickly and without warning. She looked hot on paper with all those deals, but her clients were signing boilerplate publishing contracts with no negotiated changes. This agent had no prior experience at another agency, and it was a nightmare for those clients later in their careers. 

For the Greenie, the key is to look at the agency itself. How long has that agency been in business? What is the agency’s track record as a whole? This will help you determine whether this newer agent is in a place where they will receive guidance from a more seasoned agent. 

The Blindsider

This is the agent that all the research in the world can’t predict. This agent might have a terrific beginning to a career, and then that career publicly derails. You will never be able to spot this one coming. Writers, go into an agent partnership expecting the best. But if the worst happens, try and let go of any self-blame. You did the best you could with the information available when forming the partnership. 

Also keep in mind that some agents are acting with integrity but might simply be a bad fit for certain authors. Communication styles or personalities don’t mesh. My client Courtney Milan tackled this convo recently on Twitter, so give it a look in case you find it helpful. 

As an agent, I’ve put many an article out there trying to assist writers in arming themselves with knowledge. I did a whole series of articles on what makes a good agent well as an article on 5 Questions Authors Don’t Ask but Should when considering an offer of representation.

One final comment. As an agent, I wish for no more black marks on my beloved profession, but I’m also practical. Another news article will probably be just around the corner. 

Creative Commons Photo Credit: Nenad Stojkovic