Transcript:
Speaker: Hello everyone, and thank you for joining me today. My name is Janey Burton, and I’m thrilled to dive into a topic that is vital for every author out there. Whether you’re traditionally published or self-published: let’s talk about out of print, and the reversion clause.
[Slide: Introduction]
In the world of publishing, we often focus on the exciting parts – the book launch, the marketing, the reviews. But there’s a crucial aspect that doesn’t get much attention: how to know when a book is going out of print, and what happens then. Today, I’ll explain why the reversion clause matters to you, and how understanding it can empower your career as an author.
[Slide: Definition of Out of Print]
So, what does “out of print” mean? Traditionally, a book was out of print when you couldn’t find it in bookstores or order it from a wholesaler. But with eBooks and print-on-demand technology, things have changed. Now, a book can technically be available forever. So, how do we determine when a book is truly out of print?
[Slide: Historical Context]
Let’s take a quick trip back in time. Before digital publishing, determining if a book was out of print was straightforward. No physical copies meant out of print. With the rise of eBooks and POD, however, publishers can keep a book available indefinitely, changing the landscape significantly.
[Slide: Modern Reversion Clauses]
Today, that changed landscape means the reversion clauses used by publishers have evolved. Modern publishing contracts often use sales thresholds to decide when a book is out of print. For instance, if your book sells fewer than 100 copies in a year, it might be considered out of print, triggering the reversion of rights back to you.
[Slide: Examples of Reversion Clauses]
Let’s look at some examples:
Firstly, there’s the Traditional Version, which is still in use by some publishers: It is based on the availability of copies to buy, and the publisher’s judgment of continuing demand.
So, imagine you’ve written a book. Years go by, and sales decline. Under a traditional reversion clause, it’s up to the publisher alone to decide if there’s enough demand to keep your book in print. This kind of clause is mainly still used by academic publishers and is often unsuitable for fiction or general non-fiction.
Alternatively, there are Modern Versions, often combining old and new elements. Such a modern out of print clause will give the publisher a chance to revive sales but will also provide clear mechanisms for rights reversion.
A modern version of the clause might state that if sales dip too low, the publisher has a set period, say six months, to boost those numbers. If they fail, your rights revert back to you. This provides a clear, fair process.
If the reversion clause is based on a minimum sales requirement, your rights revert if sales fall below a specified number. For instance, the contract might say if your book sells fewer than 100 copies in a year, the rights revert. It’s straightforward and gives you a measurable target.
Some modern versions are based on a minimum revenue level. This is where your rights revert if revenue falls below a certain amount.
Revenue-based clauses protect you from situations where a publisher might heavily discount your book to avoid hitting the sales threshold. If revenue drops below, say, $500 annually, your rights revert, ensuring fairness.
[Slide: Recommendations for Authors]
As authors, it’s crucial to understand and negotiate these clauses. Here are a couple of tips:
- When dealing with small or inexperienced publishers, scrutinize them carefully and make sure the people in charge have a suitable background which qualifies them to publish books. Look at their contract carefully and ensure it’s fair and transparent.
When evaluating the reversion clause, ask yourself, does this clause give me a clear path to regaining my rights? If not, it’s time to negotiate.
- Always seek the advice of an experienced publishing contract negotiator when reviewing your contracts. Professionals can help you spot any red flags and negotiate better terms.
Think of it as an investment in your future. An experienced negotiator can provide insights that you might miss and help you secure a better deal.
[Slide: Case Study: Have a plan for when you get your rights back]
Let’s consider a case study. I know a self-published author who signed with a new small press to republish a series of her novels and make them available in bookshops – and while the new press did well with her books initially, they later began to struggle to compete. Her contract included a reversion clause based on sales figures. When sales dipped below the threshold, she used the clause to regain her rights.
She had continued to raise her profile and self-publish new books alongside her traditionally published work, and her activities had grown her audience. Leveraging that larger audience, she re-launched the earlier series independently, reviving the sales and achieving even greater success.
[Slide: Conclusion]
In conclusion, understanding the reversion clause is not just about protecting your rights; it’s about taking control of your publishing journey. By being informed and proactive, you can ensure that your work remains in your hands when it matters most.
Remember, knowledge is power. The more you know about your rights as an author, the better you can navigate the complex world of publishing. Stay informed, stay empowered, and keep writing!
[Slide: Get more information and advice from The Inbox Edition – link in the description]
I have written a much deeper dive into out of print and the reversion clause, and that article is only available to my newsletter subscribers – if you sign up to The Inbox Edition using the link in the description, you’ll get access to all my subscriber-exclusive content.
[Closing Slide: Thank You and email address]
Thank you for joining me today. If you have any questions or want to learn more, feel free to reach out. Together, we can create a future where authors are in control of their creative destinies. Thank you!
