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Many of you heard HarperCollins has a new imprint that will forgo advances to instead profit share with authors. So here is a round up of what various agents think about the news, and what it means for authors.
At the Missouri Writers Guild Conference, many of us sensed the publication world is about to change. As poorly as sales have been, it only makes sense they would try new methods. And let's face it, as Kristin Nelson points out, in today's p.o.d. world taking a year or more to get a book published is just inconceivable. As authors, we'd like to get in on the ground floor - except the trick is to get in those slidy doors when the elevator is going up and not having electrical problems trying to get off the ground. Is this the next big thing?
Pubrants Kristin Nelson thinks with a shorter publication schedule and a more frequent payment schedule, it might benefit nonfiction authors.
Writers Blog has concerns.
A GalleyCat article questions agents on their opinion of the imprint.
William Morris agent Jennifer Rudolph Walsh has a brief quote about it in this New York article.
The Wall Street Journal also has an overview of the plan and its implications.
If they don't change the payment schedule, this could really stink for authors. Imagine writing the book and waiting not just until you get the project sold, but adding a year or two before it's published. Ick.
So what do you think the future of publishing is? Profit sharing? Ebooks? Self-publishing?