Dovetailing on Joe Moore’s great post yesterday on “Show Me the Money,” I saw an article in Publishers Weekly and wanted to share this very interesting deal.
John Locke is my hero.
The author gets to take the risk of whether his or her book will find success, so they can push the genre or create a new trend—AND keep the rights that are most lucrative these days. The author would also free up time to write more, rather than spend time with the print side of the business—and gain access to retail markets he/she would not have reached on their own. PLUS a proven winner like Locke would also have the attention of NYC with his next project, opening more doors. Definitely a WIN-WIN!
I see this as a very positive arrangement—a healthy one for the industry. Both sides benefit from something they would not have tried otherwise. If a traditional bundled publishing deal can be broken apart for perceived value, how do you think this might change how deals can be negotiated in the future? Can digital rights be retained by the author for the right project? How would an agent’s role change? Would an author have to be a proven bestseller to have enough clout to negotiate a similar deal or does a deal like Locke’s foreshadow things to come for all authors?