| So what does it take to make a bundle on | | | | agents know what a book is worth and will |
| foreign rights? I recently spoke with John | | | | negotiate the best deal for you. There are |
| Penberthy about securing foreign rights | | | | instances of publishers working directly with |
| sales, and he said it really wasn't that | | | | authors, but it's a long shot, and publishers |
| hard. It just takes a dash of persistence, | | | | know authors are inexperienced in negotiating |
| patience, and creativity! Here's my interview | | | | and desperate and so it's highly likely the |
| with John: 1. What's the most important | | | | authors didn't get the best deal possible. |
| thing authors should know when pitching their | | | | But you don't hire agents; if they like your |
| book to a FR person? Make it brief and | | | | book they choose you and then work on a |
| succinct. You're pitching via email, agents | | | | commission basis, usually 15% of advances and |
| get a ton of emails/day and you have to have | | | | subsequent royalties. The author pays nothing |
| something that will be quick and grab their | | | | up front; the publishers only get paid if |
| attention. In my case, I wrote a brief 2 | | | | they produce. Most foreign agents work with a |
| paragraph letter with a link to my 60 second | | | | co-agent in the author's country, who feed |
| trailer. So they could tell very quickly if | | | | them books to market, which already have a |
| it was something they might be interested in. | | | | proven sales track record in the author's |
| At the end of the trailer was a link to my | | | | country. In these cases, the 2 agents usually |
| site, where I offered the ebook version for | | | | split a 20% commission. In my case it was the |
| free as a way of generating buzz. Interested | | | | reverse -- I marketed my book directly to |
| agents could then read a few chapters to see | | | | foreign rights agents and built a track |
| if they wanted to request a hard copy. One | | | | record of rights sales in other countries, |
| thing that strongly worked in my favor was | | | | which I then used to attract a U.S. agent who |
| that you can read my book in 90 minutes. | | | | subsequently got me a contract with Sterling |
| Agents are overwhelmed with book submissions | | | | Publishing here in the U.S. 6. How much time |
| and loathe the amount of time it takes to | | | | can an author expect to allocate to this |
| read them, so 90 minutes was a breath of | | | | process? It's not very time-consuming. First |
| fresh air for them. Offering the ebook free | | | | you research foreign rights agencies on the |
| was huge because it quickly disseminated the | | | | Internet and put your list together. Then you |
| book all over the world and resulted in all | | | | draft your email letter and send it out. I |
| kinds of interesting inquiries. You don't | | | | probably haven't spent more than a couple of |
| want to do it forever, but when you're | | | | weeks on this in total in a year and a half. |
| starting out, it really helps generate buzz | | | | 7. What are the things you look for in a |
| and eliminates all risk for prospective | | | | foreign rights contract? Because the agent is |
| buyers. It was instrumental in many of my | | | | the intermediary, she usually has a standard |
| foreign rights deals. 2. What types of books | | | | contract which she prepares and sends to both |
| work better for FR? My book, To Bee or Not | | | | parties for signatures, so the contracts are |
| to Bee, is a spiritual allegory about bees, | | | | generally quite similar. The key factors, of |
| sort of a next-generation Jonathan Livingston | | | | course, are the amount of the non-refundable |
| Seagull. People the world over have sought | | | | advance and the royalty rate, generally only |
| more meaning in their lives through spiritual | | | | 7-8% on foreign rights, which should be |
| understanding from time immemorial, so I felt | | | | applied to the retail price. Royalties are |
| my book had universal appeal. I had the | | | | deducted from the advance and once the |
| illustrations drawn in a Chinese watercolor | | | | advance is paid back, the publisher makes |
| style in order to reflect the story's Eastern | | | | royalty payments. Most publishers calculate |
| approach to spirituality, which is really | | | | royalties following the end of each calendar |
| taking hold in the West, but also to appeal | | | | year, though some do so semi-annually, and |
| to the huge Asian market. This has worked | | | | payments are due a quarter later. The |
| well as 2 of my contracts are for Korean and | | | | contract should have a finite term, usually |
| Chinese, and I think I'm close in Taiwan and | | | | five years. If the book proves to be big with |
| Japan. Each author has to evaluate the | | | | good longevity, it can go back on the market |
| extent to which their book will appeal to | | | | at the end of the term for much better terms. |
| those within 1) the U.S., 2) Europe, 3) Latin | | | | One thing that is absolutely critical is that |
| America and then 4) Asia. These are the 4 big | | | | the publisher provide a computerized |
| markets and each is a step removed from the | | | | statement showing sales, returns, etc. via |
| previous one. So many books are written | | | | postal mail to the author for each period. If |
| specifically for Americans because America is | | | | figures are provided any other way (i.e. via |
| the biggest market. You're probably not going | | | | email) it is too easy to fudge them. The |
| to get any foreign deals for a cookbook, but | | | | language and geographic territory licensed |
| I would think computer and Internet books | | | | should be specified. And the number of |
| would do well in most countries because | | | | complimentary books provided to the author |
| computer people all speak the same language. | | | | should be specified. The agent's commission |
| Each author needs to assess the universality | | | | should be identified. One other important |
| of her book's appeal. 3. What should be | | | | thing, for my book at least, was to limit |
| included in the FR packet? Once I would get | | | | rights to book publishing only. My vision is |
| email replies from interested agents I would | | | | to see To Bee or Not to Bee made into a |
| send them just 2 things -- the book and a | | | | digitally animated film and so I always |
| detailed cover letter explaining the book, | | | | retained audio-visual rights. 8. You're |
| its uniqueness and market appeal, and its | | | | dealing with a bunch of strangers in foreign |
| track record. For example, my book is a | | | | countries. Once you've got a contract, what |
| strong gift book -- we're averaging nearly 5 | | | | about getting paid? For the advance you've |
| books sold per customer through our website | | | | got leverage because you don't email the |
| -- so I always made sure to mention this and | | | | manuscript file until you get the advance. |
| the fact that To Bee or Not to Bee is a | | | | But for royalties, once the advance is paid |
| perennial gift book that would be in print | | | | back it can be dicey, depending upon the |
| for decades. Multiple sales and longevity | | | | quality of the agents and size of the |
| definitely grab the attention of prospective | | | | publishers you're working with. My Italian, |
| publishers. A zillion new books are | | | | Spanish, Portuguese and Chinese contracts |
| published each year and publishers are always | | | | were secured by established agencies with |
| looking for something new and different, so I | | | | large publishers. They provide computerized |
| would encourage people to explain why their | | | | sales reports and are very legit. Publishers |
| book is new and different. As foreign rights | | | | in Asia and Eastern Europe can be more |
| sales grew, I always mentioned the previous | | | | problematic, depending on their size and |
| translation rights I had sold and the names | | | | reputation. Many of these countries have only |
| of the publishers (to add credibility). 4. | | | | recently signed the international copyright |
| How long does it take for a foreign rights | | | | agreements and some of the more marginal |
| deal to happen? It really varies. My first | | | | publishers still don't feel they need to |
| deal, Korean, was signed within a month of | | | | comply with them. And even if the publisher |
| sending the agent the book and the book was | | | | does comply, they send the money to the |
| published 3 months after that. This is | | | | agent, who is supposed to send it on to you, |
| lightning speed in the publishing world. My | | | | so there's an extra layer of opportunity for |
| second deal, Italian, took about 2 months | | | | graft. They know that you have no leverage; |
| because the agent took it to the Frankfurt | | | | who's going to spend thousands of dollars |
| Book Fair, by far the largest book fair in | | | | hiring lawyers in a country halfway around |
| the world, which happened soon after she | | | | the world unless there are clearly large |
| received the book. I was lucky to have these | | | | royalties at stake (and royalty rates for |
| deals happen so quickly, but 1-2 months is | | | | most foreign deals are notoriously low, |
| abnormally fast. My third and fourth deals, | | | | typically 7-8%)? The only leverage you have |
| Spanish and Portuguese, took about 6 months, | | | | is if you have an American co-agent involved |
| again at a book fair. By the time these | | | | because the foreign co-agent's reputation is |
| editions are released, 1 1/2 years will have | | | | at stake among the international agent |
| elapsed. In general, the publishing world | | | | community. Even then, many American co-agents |
| moves at a snail's pace so you have to be | | | | expect only to receive their share of the |
| patient. My latest deal, Chinese, also took | | | | advance and spend little if any effort to |
| over 6 months. But other agents have been | | | | collect royalties unless they are |
| working other countries for over a year and | | | | substantial. The moral of the story -- the |
| still have no publisher prospects. Some | | | | larger and more established the agency and |
| publishers sit on books forever. Once To Bee | | | | publisher, the better chance you have of |
| or Not to Bee is re-released by Sterling | | | | getting paid. John Penberthy is the author |
| Publishing in the English-speaking world this | | | | of To Bee or Not to Bee. He has sold rights |
| fall and establishes a sales track record, I | | | | to his book in Korean, Italian, Spanish, |
| plan on doing another email blitz to foreign | | | | Portuguese, Slovenian, and Chinese. His |
| rights agents in all the countries for which | | | | foreign rights deals have totaled $40,000. |
| rights haven't been sold and apprising them | | | | View the trailer, read Chapters 1-3 and send |
| of this new information. Hopefully this will | | | | free ecards at |
| generate a new round of rights sales. 5. | | | | |
| Should authors hire someone to negotiate for | | | | Penny C. Sansevieri, CEO and founder of |
| them? I'm a strong believer in literary | | | | Author Marketing Experts, Inc., is a book |
| agents. Publishers rely on them to sort | | | | marketing and media relations expert whose |
| through all the riff-raff and know that books | | | | company has developed some of the most |
| sent to them by good agents are worth their | | | | cutting-edge book marketing campaigns. |
| time considering. But most importantly, | | | | |