What is the Future of the Book Advance?

In Discussion by Edward Nawotka

By Edward Nawotka

book with dollar signIn our lead story today, author and marketer M.J. Rose and publisher Robert Miller debate the future of what the publisher/author relationship. Both come at the topic from different angles, but they both agree that advances, as they exist today, need to change. Rose wants marketing expenses undertaken by the publisher to be deducted from the sum that must be earned out before royalties are paid; Miller believes that authors don’t necessarily need advances but in return, should be entitled to a bigger cut of the profits.

So, the question is: What is the future of the book advance? If the advance goes away — or is significantly reduced — how will it affect the literary landscape? What are the implications for industry? For authors?

Let us know your thoughts in the comments below or via Twitter using hashtag #ppbonus.

About the Author

Edward Nawotka

A widely published critic and essayist, Edward Nawotka serves as a speaker, educator and consultant for institutions and businesses involved in the global publishing and content industries. He was also editor-in-chief of Publishing Perspectives since the launch of the publication in 2009 until January 2016.