What does the word “royalty” mean to you as an author? In their presentation, “Royalties: Past, Present, and Future” at the 31stAnnual Textbook & Academic Authoring Conference, royalty auditor Juli Saitz of Ankura Consulting Group and veteran publishing insider Sean Wakely of FlatWorld discussed the history and anticipated future of textbook author royalties.
In a traditional author-publisher relationship, the publisher is providing financial capital and the author is providing human capital for the production of a book. The negotiation of royalty on the sale of the book is used to determine how the profit from such sale is divided. Through the royalty model, there is a shared risk between author and publisher and consequently a shared reward for successful titles.
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