Hi Angela,
There’s a question I wanted to pose regarding current negotiations with my publisher. They offered a buyout of my copyright, and claimed the “industry standard” is: buyout = 3 x average yearly royalties. That seems low for a book that’s been in publication for 20 years, and continues to sell 4-5 thousand copies a year, and will never become outdated. What do you know about this so-called buyout formula? Thanks!
They know they’re going to be able to keep selling your book for years or even decades to come. It’s a good money-maker for them. And, they obviously think you’re dumb enough to jump at three years of cash now vs. earning residual income for years.
If it was me, I’d tell them to jump in a lake.
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