This is brilliant! It's been about 5 years since I worked in house so my knowldge is rather out of date and it's really useful to be reminded of a) the things I'd forgotten and b) the changing landscape. I can't remember if the works was nielsen at the tail end of my time or not but it feels like a Big Change!
Also, telling people that waterstones promo is unpaid but Smiths charts and supers are paid is really useful info for authors. I remember when I found out about smiths (while working in publishing) I was shockkkked. One thing re Waterstones, I do think it's changed a little in the post Florentyna era on the kids side - it used to be one person with all the power of choosing. (My author group called her Our Lady of the Little Tables cos of her near divine power). I don't know how it is on adults now but kids is split between a number of buyers.
I'd be interested in whether you think Daunt being across both the US and the UK has made a difference in waterstones purchases - or if it's more an influence the other way around? B and N becoming more like Waterstones (ie buying less, smaller range)?
I’m not very well versed in the kids area of the market - there are a few buyers for adult for Waterstones but not many. Interesting Q re Daunt - I think you’re probably right in that he’s brought more from the UK over to the US! B&N stores always feel very big to me when I’m in NYC though - but that might be just in the city…
I think I've heard a lot from authors about them buying a narrower range, but when I go to B and N yeah it still seems MASSIVE compared to a waterstones in terms of the sheer volume of children's books. Do you feel like the adult buyers have a very specific taste? That used to be the case with the single buyer for kids but less so with the varied buyers. (tho I do still feel like there's such a thing as a "waterstones book")
One thing that I think isn't clear is when your e-book is promoted at 99p, does that mean you're only getting your 10% or whatever of 99p? I've heard that it depends whether the publisher reduces the price, or Amazon does. And same question for when Amazon discount a title to price match a supermarket.
So usually, royalties are based on either the Recommended Retail Price (RRP) or the publisher's net receipts. The RRP is the price printed on the book, net receipts are what the publisher receives after discounts that a retailer might add. Royalties based on net receipts are usually lower per book, but can be higher in total if the publisher sells a large number of books at a discount. Most contracts are based on RRP, but some models are on NR. So most of the time you’d get a royalty % based on the original RRP your publisher sets the book at (same for each format) - unless your publisher uses a net receipts model (which as above can mean higher volume so can arguably pay off - depends what you want). I think the majority of agents prefer RRP, and it is more standard. Does that help? Thanks for reading!!
I think what's TRULY crazy is how little prices have risen in books compared to other consumer products! I found an old usborne book the other day and honestly the price wasn't that much different in the 80s when I was a kid than in the 2010s when I worked there! It'd gone up maybe three quid (unhelpfully I cannot remmeber the exact price)
I guess I mostly think about children's books and they seem to have only gone from say 5.99 to about 9.99 for a full colour non fic (paperback) in 40 years!
This is brilliant! It's been about 5 years since I worked in house so my knowldge is rather out of date and it's really useful to be reminded of a) the things I'd forgotten and b) the changing landscape. I can't remember if the works was nielsen at the tail end of my time or not but it feels like a Big Change!
Also, telling people that waterstones promo is unpaid but Smiths charts and supers are paid is really useful info for authors. I remember when I found out about smiths (while working in publishing) I was shockkkked. One thing re Waterstones, I do think it's changed a little in the post Florentyna era on the kids side - it used to be one person with all the power of choosing. (My author group called her Our Lady of the Little Tables cos of her near divine power). I don't know how it is on adults now but kids is split between a number of buyers.
I'd be interested in whether you think Daunt being across both the US and the UK has made a difference in waterstones purchases - or if it's more an influence the other way around? B and N becoming more like Waterstones (ie buying less, smaller range)?
I’m not very well versed in the kids area of the market - there are a few buyers for adult for Waterstones but not many. Interesting Q re Daunt - I think you’re probably right in that he’s brought more from the UK over to the US! B&N stores always feel very big to me when I’m in NYC though - but that might be just in the city…
I think I've heard a lot from authors about them buying a narrower range, but when I go to B and N yeah it still seems MASSIVE compared to a waterstones in terms of the sheer volume of children's books. Do you feel like the adult buyers have a very specific taste? That used to be the case with the single buyer for kids but less so with the varied buyers. (tho I do still feel like there's such a thing as a "waterstones book")
Thanks Phoebe, really appreciate the effort and detail here - very useful and we'll include a link to your substack on our weekly newsletter.
Oh thank you that would be great!
Such a helpful and interesting post. Thank you so much 😀
Thanks for reading
One thing that I think isn't clear is when your e-book is promoted at 99p, does that mean you're only getting your 10% or whatever of 99p? I've heard that it depends whether the publisher reduces the price, or Amazon does. And same question for when Amazon discount a title to price match a supermarket.
So usually, royalties are based on either the Recommended Retail Price (RRP) or the publisher's net receipts. The RRP is the price printed on the book, net receipts are what the publisher receives after discounts that a retailer might add. Royalties based on net receipts are usually lower per book, but can be higher in total if the publisher sells a large number of books at a discount. Most contracts are based on RRP, but some models are on NR. So most of the time you’d get a royalty % based on the original RRP your publisher sets the book at (same for each format) - unless your publisher uses a net receipts model (which as above can mean higher volume so can arguably pay off - depends what you want). I think the majority of agents prefer RRP, and it is more standard. Does that help? Thanks for reading!!
When I was working for Hamish Hamilton in the '70s the big debate was could new h/b crime fiction be priced above £4.95!
I think what's TRULY crazy is how little prices have risen in books compared to other consumer products! I found an old usborne book the other day and honestly the price wasn't that much different in the 80s when I was a kid than in the 2010s when I worked there! It'd gone up maybe three quid (unhelpfully I cannot remmeber the exact price)
It does feel to me as though hardbacks are much more expensive but I suppose you’re right compared to some other products it’s not so bad!
I guess I mostly think about children's books and they seem to have only gone from say 5.99 to about 9.99 for a full colour non fic (paperback) in 40 years!
That’s so crazy to think of now isn’t it?! Thank you for reading and engaging!