Wednesday, October 5, 2011

E-book Authors Get 70% of Revenue With New Service

Perseus Books Group is giving literary agencies a chance to stand up against e-book publishing agencies. Perseus is offering to only take a 30 percent cut of revenue, leaving the author with 70 percent of profits from their books. Many publishers keep 75 percent of profits and leave the author with only a fourth of the revenue off of their own books.

The company has already taken off with more than 12 agencies close to signing on with them. The rates Perseus offers are almost too good. Their rates are bound to make the e-book market even more competitive.

In recent months, several major literary agencies have added e-book publishing services for their clients—the largest so far being Trident Media Group, which announced Trident E-Book Operations just last week. Now Perseus Books Group is launching Argo Navis Author Services, which will help literary agencies jump on the bandwagon and offer those e-book publishing services to their authors.

Literary agencies Janklow & Nesbit and Curtis Brown are the first agencies to sign up to offer Perseus’s new service to their clients, the New York Times reports, with “more than a dozen other agencies” also close to signing on. One of those others is ICM, Publishers Lunch reports. The agencies aren’t required to sign exclusive agreements with Perseus.

Click here to read more about Perseus Books Group.

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