When a publisher offers you an advance for agreeing to publish your book, is it one of those things where you have to pay it back if your novel doesn't sell as much as they thought? I just thought I'd ask because, being a musician also, I've heard tales of bands being given record contracts and an advance--only for them to come back and demand it back and the musicians being in dept.

It's just curiosity mainly. I haven't been offered one, but thought I'd check it just in case (fingers crossed) I do get a publishing deal somewhere down the line.

No, you don't have to give it back. The only time you would is if you'd been paid some of it when you signed the contract, but you actually failed to deliver the book. It's the publisher's gamble to offer you an amount they think they'll make back...

Emma

Cool. Though I'm assuming, what with the recession and everything, that publishers are being a bit more careful with the advance they give out these days (probably not even giving an advance at all in some cases). Still, that's one load off my mind.

Well you should be offered an advance by all but the most utterly minute publisher (oh, and Macmillan New Writing) and even then... It's an earnest of good intent, apart from anything else: you need them to concentrate on earning it back.

I haven't heard that advances have been getting smaller, but maybe that will come: certainly there's been a trend in the last few years for advances to polarise, being either four or the lower end of five figures, or, ocasionally, over six, with very little in the good-to-excellent five figure bracket. At the moment it seems to be more that they try very hard to get all the possible rights, for the same sum, so that they've got more hope of earning it back. Agents tend to want to hold onto sub and trans rights, thinking they'll make more (and the money comes up front) if they sell them themselves.

Emma

Some advances are getting smaller - I recently heard of one first-time author being offered just £1,000 by Heinemann...

I've read on some writers communities that reputable publishing houses are offering little or no advances to debut writing, and they are questioning whether it's worth going for it purely to get published, or whether to wait for a better offer (if any).


- NaomiM

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oops, debut writers

Goodness, it is getting that bad, is it?

But don't forget that an advance is only an advance on royalties: if you don't get one, you'll get royalties from Day One. (Well, six months after Day One). If you get a tiny advance, the book doesn't have to sell tons to earn out and then you get royalties.

Though since an advance is basically the amount of money the publisher thinks they'll owe you if the book sells about what they expect, it does say something about what they do, or don't, expect to sell. (Pause for nervous breakdown on own behalf...)

Emma

I'd sign a deal for an advance in Creme Eggs at the moment, to be honest.

Even Tesco value chocolate.

*whiff of desperation hits the air*

I've read on some writers communities that reputable publishing houses are offering little or no advances to debut writing

To be fair, I can kinda see their reasoning behind that. After all, in this current economic climate (refusing to use such overplayed words as Recession or Credit Crunch) publishers probably have to be MORE careful about the sort of money they put into selling their books. After all, not every writer is as fortunate as Philip Pullman, Stephanie Mayer or (dare I say it) J.K Rowling in terms of book sales. So giving no advance I guess is a way of covering themselves.

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I'd sign a deal for an advance in Creme Eggs at the moment, to be honest. Even Tesco value chocolate.

Sounds like a good deal! I'd just settle for a pint of Carlsberg--or a KFC Zinger meal! If they offer me that, they have a deal! lol

I'm still sorely pissed off that I've written a novel to coincide with a worldwide recession. Great!

JB

Join the club, waxy

Hey, don't worry about it Waxylyrical. I think all us unpublished writers are feeling the sting. Though, if I'm being honest it's not much different for me. I was getting rejections for manuscripts long before the recession kicked in.

LOL, Dan

Me too, JB. At least we can tell ourselves that's the reason, if we don't get a deal

I'd sign a deal for an advance in Creme Eggs at the moment, to be honest. Even Tesco value chocolate. *whiff of desperation hits the air*

Lol! Casey. If I was submitting at the mo, I'd be tempted to add that to my covering letter.
(Er, not recommending that anyone should, btw, but it's the sort of daft thing I'd do ).


- NaomiM

Don't tempt me Naomi. Really. You don't know how close i am this time to trying out a wacky cover letter