Gloria Alden's latest publication is nonfiction. Boys Will Be Boys: The Joys and Terrors of Raising Boys. Edited by Cher'ley Grogg was recently released and available on Amazon. Gloria wrote three essays and two poems in her chapter included in the book.
Congratulations to four of WWK’s bloggers whose books were released in the last two months. Look for Jim Jackson’s second Seamus McCree novel, Cabin Fever; Linda Rodriguez's new Skeet Bannion mystery, Every Hidden Fear; KM Rockwood's new Jesse Damon novel, Brothers in Crime; and Gloria Alden's third Catherine Jewell Mystery, Ladies of the Garden Club. All of the novels are available at bookstores in print and ebook.
Paula Gail Benson's short story "Confidence in the Family" is featured in the Mystery Times Ten 2013 anthology, which can be bought at Amazon. http://www.amazon.com/Mystery-Times-2013-Linda-Browning/dp/0984203583/ref=tmm_pap_title_0?ie=UTF8&qid=1387240857&sr=8-2
Tuesday, September 14, 2010
The Harsh Economics of Agent Love
A quick refresher in agent economics may shed some light on the question. Let’s say Ms. Agent has decided she needs to clear $75,000 to make a go of the agenting business. Further assume 25% of her gross will go for overhead: rent, supplies, a part-time reader maybe, lunches with editors. By golly, that means she needs to earn $100,000. [I've made up all the numbers, but they’re sufficient for our purposes here.]
Ain’t going to happen.
Turn this around: If she can make a sale a week (which would be spectacular) each sale needs to generate almost $13,000 and at a more realistic, but still pretty good, twenty-five sales a year, author royalties need to exceed $25,000 a book.
On average – and that’s the rub. What makes this whole industry work (currently) is not the average, but the positive outliers. A best seller covers a lot of minimal advances that never earn out—even though they might be just as well written as the best seller. Furthermore, it is rare for a first book to be a best seller.
A bunch of really good books, one per author, won’t generate nearly as much revenue for anyone as a series of good books by a single author. Haven’t we all read something by a new-to-us- author and then gone back to read their earlier books? That’s why agents want to sign people who can write multiple books.
This means the agent must invest time and effort on pre-published authors before they are profitable; and time and effort are precious resources for an agent. Like the rest of us, there is no way to get hours back once we have expended them. With so many pre-published authors vying for agent representation, why would an agent choose to represent an author whose first work they didn’t love?
It makes complete sense to me [but hey, I’m probably better at the finances stuff than the love angle anyway.] Now I just need to develop a strong enough query letter so an agent will want to read my stuff. Once they do, I know they’ll fall in love!