This is a really interesting article on advances. Coming from a marketing and PR background, I think the newer model of less money upfront but a 50-50 split of profits makes so much more sense. I really wonder how long the broken advance system will keep chugging along. After decades of only 30% success in recouping advances through sales, you'd think they'd move quickly to a new model yet every day I see massive advances announced in Publisher's Lunch. It's really puzzling!
Would you take a small advance and 50% of profits (instead of a minor percentage as royalty) or do you prefer the big advance up front?
1 month ago