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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 » Book Business » Page 4

Book Business

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

The Things I Say Most Often About Writing

By Bob Hostetleron November 2, 2023
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I talk a lot about writing. As a writer, yes, but also as a literary agent and speaker at writers conferences. And, yes, sometimes, as the guy at church potlucks who is inept at small talk and sometimes starts sentences with, “Ever wonder what the first person to use the word moist was thinking?” Okay, so now you know a little too much about me. But in my strange mind and varied roles, I do often …

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Category: Book Business, Book Proposals, Encouragement, Pitching, The Writing Life

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

A Is for Auction

By Steve Laubeon October 9, 2023
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When an agent has a client who is wanting to shop for the best deal available from publishers or if there is a particular project that is bound to garner significant interest from more than one publisher, the agent can hold what it called an auction. Or if a project attracts multiple offers from different publishers a “bidding war” can ensue. The word “auction” is tossed …

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Category: Book Business, Publishing A-ZTag: auction, Publishing A-Z, publishing auction

Four Million Books Published Each Year?

By Steve Laubeon August 7, 2023
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I read a statistic that estimates there were four million new books published in 2022 (sourced from https://www.zippia.com/advice/us-book-industry-statistics/). This includes all self-published books (at least 50%) and traditionally published textbooks and books for the trade. This means there is a new book published every eight seconds or nearly 11,000 per day, every day of the year. With our …

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Category: Book Business, Book Sales, Career

Agent Etiquette

By Tamela Hancock Murrayon July 27, 2023
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Agent Etiquette: Ima Writer Interviews Literary Agent Empress Worthington In the interest of helping new authors learn the etiquette of approaching literary agents, the following is a conversation with aspiring author Ima Writer and literary agent Empress Worthington. Ima: I have an extraordinary manuscript, and I want an agent. Empress: Congratulations on completing your book! Do you have a …

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Category: Agents, Book Business, Pitching

Bestselling Books in 1988

By Dan Balowon June 20, 2023
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Today is a look back thirty-five years to the books selling well in 1988. This type of information helps put the present in perspective. Best-selling titles in the broader book market can often indicate what society, in general, is thinking (and reading) at the time. Looking at Christian books during a certain period should also show something about the church. Doing so is another reminder that …

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Category: Book Business

Let’s Talk About Money

By Steve Laubeon June 5, 2023
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Hope that headline got your attention! Those of us who work with authors find that an area of consistent turmoil is when money is the topic. A major challenge is teaching authors when to talk about money and when not to talk about money. Let’s explore some of these challenges. And first, let’s assume you already have a literary agent. When to Talk Money With Your Publisher/Editor Never. That is …

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Category: Book Business, Money, The Writing LifeTag: Book Business, Money

Will Someone Steal My Book?

By Bob Hostetleron May 18, 2023
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It’s a common question I hear among writers, especially among those who are starting out in the long journey toward publication: “Will someone steal my book?” Or “my idea?” Or “my plot?” And so on. Some writers are loath to show their work to a critique group or submit to an agent or editor, for fear that someone will take their title or idea or writing and pass it off as their own. Believe it or …

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Category: Book Business, Career, The Publishing Life, The Writing Life

The Never-Ending Stories

By Dan Balowon May 17, 2023
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One of the reasons Christian authors can run out of things to write about is they write only from personal experience. Personal experiences are finite, and you are bound to run out of material. Your personal experiences give you one thing that can be used to write a hundred books: a perspective on God and living the Christian life, not only the actual things to write about. So, Christian writers …

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Category: Book Business, The Writing Life, Theology
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