Inside the Collapse: What Traditional Publishers Don’t Want You to Know About Their Imminent Demise
Traditional Publishing: A company buys the rights to the author’s book, and then pays for the publishing expenses. Advances are rare (unless you’re a celebrity author), and royalty rates are lower than the other publishing options on this list. MYTH: “My book will end up in all bookstores!” Ninety-nine percent of traditionally published books never end up on bookstore shelves. MYTH: “The publisher is going to send me on a book tour!” That doesn’t happen anymore…unless you’re a celebrity like Stephen King. MYTH: “The publisher is going to put ads in magazines and newspapers, and pay for TV advertisements as well!” No, they’re not. New authors under contracts with traditional publishers are responsible for 100% of their own book promotion. FACT: Most traditionally-published authors never earn more than their initial advance. And, most new authors get no advance at all.
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