Monday, April 15, 2013
Self-Publisher Hugh Howey Refuses to Give Up Digital Rights and Signs a Six-Figure Deal With Simon & Schuster
Wall Street Journal, March 7, 2013
"Hugh Howey's postapocalyptic thriller "Wool" has sold more than half a million copies and generated more than 5,260 Amazon reviews. Mr. Howey has raked in more than a million dollars in royalties and sold the film rights to "Alien" producer Ridley Scott.
And Simon & Schuster hasn't even released the book yet.
In a highly unusual deal, Simon & Schuster acquired print publication rights to "Wool" while allowing Mr. Howey to keep the e-book rights himself. Mr. Howey self-published "Wool" as a serial novel in 2011, and took a rare stand by refusing to sell the digital rights. Last year, he turned down multiple seven-figure offers from publishers before reaching a mid-six-figure, print-only deal with Simon & Schuster.
"I had made seven figures on my own, so it was easy to walk away," says Mr. Howey, 37, a college dropout who worked as a yacht captain, a roofer and a bookseller before he started self-publishing. "I thought, 'How are you guys going to sell six times what I'm selling now?' "
It's a sign of how far the balance of power has shifted toward authors in the new digital publishing landscape. Self-published titles made up 25% of the top-selling books on Amazon last year. Four independent authors have sold more than a million Kindle copies of their books, and 23 have sold more than 250,000, according to Amazon.
Publishing houses that once ignored independent authors are now furiously courting them. In the past year, more than 60 independent authors have landed contracts with traditional publishers. Several won seven-figure advances. A handful have negotiated deals that allow them to continue selling e-books on their own, including romance writers Bella Andre and Colleen Hoover, who have each sold more than a million copies of their books."
Read the rest of the article HERE.