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October 14, 2013

Opinion | Publishing

Royalties – We are not amused

book-royalties.jpgMany English teachers venture into - or at least think about venturing into - the world of writing. But how does it work financially? Get some insight into the world of advances and royalties courtesy of Nicola Prentis.

This week I got my first Royalties statement. A landmark event. Hurrah!

Even though I’m long past the question I had at the beginning of the year about whether I’m a writer or just someone that writes, this is another pretty definitive answer to it.

However, this event also answered other questions I might think about posing to myself.

Am I ridiculously naive? Have I really got any clue what I’m doing playing with the Big Boys in the Grown Up Writing Playpen?

For starters, and the fact I’m publicly admitting this shows how much I feel kinship through blogging, is that I completely misunderstood the Advance vs Royalties system. I think in the back of my mind I knew advance meant “advance payment” but I had somehow turned it round in my head to think it meant something more like “in advance of your brilliance, here’s some money.”

Royalties, it turns out, are like paying back a debt to the publishers. They invested in me/my Graded Reader and until my royalties meet that, I will just see the minus number creep to £0 – hopefully. So after the first half of this year, I am now £160 closer to making more money. After that, if there are sales after that, I will make new money for old work. At those sales figures, it will take about 4.5 years.

Read the full post on the Simple English blog.

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