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The Steve Laube Agency

Helping to Change the World…Word by Word

The Steve Laube Agency

The Steve Laube Agency

Helping to Change the World Word by Word

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Home » Archives for Steve Laube » Page 28

Steve Laube

F Is for Foreign Rights

By Steve Laubeon November 13, 2023
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(A version of this post was published in Spring 2022. It has been revised for today.)

Those of us in the United States tend to frame the publishing universe within our borders in the English language. We can forget that publishing is a global concern.

You may have heard of Penguin Random House (owned by Bertelsmann, a German company) because their various imprints dominate the best-seller list. But they are not the largest publisher in the world. (They are third!) The largest publisher, RELX Group (aka Reed Elsevier), has offices in 40 countries and annual revenue of $6.33 billion. (See this link for a list of the top 10 largest publishers worldwide. The list may be behind a paywall.) There are thousands of publishers outside the US, most of which publish in their native language. Therefore, in most contracts, foreign rights or translation rights are negotiated.

Some publishers have a dedicated rights division that handles the licensing of your book into other languages. Your contract defines how income will be split between you and your publisher. (It is usually a 50/50 split.) Frequently, a publisher will negotiate for world rights in all languages.

But, in some cases, we have held onto the non-English translation rights; and those licensing opportunities are done by our agency. Some of our hybrid clients (those who publish both traditionally and independently) have had us handle their foreign rights inquiries. Thus, over the years, I’ve handled the licensing for client’s books published in Arabic, Korean, Dutch, German, Complex Chinese, Simple Chinese, Spanish, Italian, Vietnamese, Japanese, Portuguese, and Slovakian. It is quite fun to look on our shelves and find our client’s books also printed in Polish, Czechoslovakian, Indonesian, Russian, and French.

It can be a complex transaction. Once, in a highly unusual deal, we sold a US publisher the North American English rights, a Korean publisher the Korean language rights, and a British publisher the Commonwealth English rights. In other words, we sold the same book three times. A problem surfaced later in defining “Commonwealth” because the list of nations in that group has not been static over the years. (The biggest ones include the UK, Australia, New Zealand, and South Africa. Currently, it comprises 56 nations.)

Make sure you set your financial expectations right. One time, an overseas publisher issued us a check for royalties earned. After subtracting the Foreign Withholding Tax, the wire transfer fees, etc., the author earned less than $10 (from which our agency commission was deducted).

Occasionally, an unusual translation request can come our way. The Korean translation of the book Dinner with a Perfect Stranger became a best-seller in South Korea. It was so popular that we later sold both the Korean language stage-play rights and the Korean language musical-theatre rights.

For some publishers, the complexities of handling translation rights are better served by a company dedicated to the work. Fortunately, there are some good ones. Cindy Riggins of Riggins Rights Management has been handling such work for over thirty years. She wrote, “Foreign rights can be complex because each language is a unique market in their economic conditions that affect pricing, tax issues, size of the market, etc. Many publishers cannot afford the cost of pursuing international rights or do not have the trained staff to deal with them. While in the Christian market, there are still a lot of ‘ministry’ rights where the author or publisher does not make any real royalty revenue (only the knowledge that the work is impacting many lives), but there are many markets that can provide a nice royalty stream for years.”

Selling translation rights is a small part of the overall business of a publisher or an agent, but it is an important one. Especially in getting your story or message “into all the world” (Mark 16:15).

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Category: Book Business, Publishing A-ZTag: Book Business, Foreign rights

Fun Fridays – November 10, 2023

By Steve Laubeon November 10, 2023
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Dueling percussionists! Enjoy today’s Fun Friday! What they must have been like in their high school marching band pit:

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Category: Fun Fridays

R Is for Reserve Against Returns

By Steve Laubeon November 6, 2023
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Every traditionally published author needs to understand the principle of “Reserves Against Returns,” which is an integral part of publishing economics. It can reduce the amount of money an author receives in their royalty statement. It is usually a shock and elicits a phone call to their agent crying, “What happened to my money?” Did you realize that book publishing is the …

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Category: Book Business, Publishing A-ZTag: Book Business, Contracts, Get Published, Money, Traditional Publishing

Fun Fridays – November 3, 2023

By Steve Laubeon November 3, 2023
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Sit back and let this performance wash over you. Turn the volume up. “Shall We Gather at the River.” Gorgeous. HT: Dick Malone

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Category: Fun Fridays

J Is for Just-in-Time

By Steve Laubeon October 30, 2023
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The economics of bookselling are complex and ever-changing. There is a method of inventory control called “Just-in-Time” (or JIT) that revolutionized both the retail and manufacturing industries. When I began as a bookseller, there was no such thing as computerized inventory, at least not in the Christian bookstore business. We used a method called “Stack ’em high and watch ’em fly.” Because “If …

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Category: Book Business, Marketing, Publishing A-ZTag: Book Business, Economics, Publishing A-Z, Technology

Fun Fridays – October 27, 2023

By Steve Laubeon October 27, 2023
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I title today’s video “Leave it to the proofreader to find the ONE mistake in your entire masterpiece.” HAHA!

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Category: Fun Fridays

H Is for Hybrid

By Steve Laubeon October 23, 2023
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To state the obvious, the publishing industry has changed rather dramatically over the last few years. The possibility for a writer to inexpensively produce their own books (in e-book form) shifted the sands. In addition, the economic challenges facing the brick-and-mortar bookstore reduced the amount of shelf space available to launch a new book via traditional methods. It appears to be an …

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Category: Publishing A-Z, SteveTag: hybrid author; ebooks, publishing

Fun Fridays – October 20, 2023

By Steve Laubeon October 20, 2023
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Today’s clever short movie is called The Black Hole (less than three minutes long). I’ll admit, I laughed at the end. What would you have named this if you had written this short story? (A story without words.)

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Category: Fun Fridays

P Is for Preemptive Offer

By Steve Laubeon October 16, 2023
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It can be exciting if more than one publisher is interested in your book. The publishers gather their calculators and prepare to make their offers on the book. Depending on how many publishers are involved in the bidding process (we’ve had as many as nine at once for a property), it can quickly become complicated. (I talked about the “auction” in a previous post.) Some will bid solely …

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Category: Book Business, Publishing A-ZTag: Book Business, Preemptive Offer, Publishing A-Z

Fun Friday – October 13, 2023

By Steve Laubeon October 13, 2023
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Let us watch today’s video as a metaphor for writing a book. Piece by piece. Nail by nail. And you have to know what you are doing, or it all collapses. This is why you get annoyed when people say to you, “I’m going to write a book someday,” as if it were easy. Note something about the video. Your foundation has to be absolutely correct because everything depends on it. …

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Category: Fun Fridays
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