Who Would Walk Away From a Seven Figure Book Deal?
Not Amanda Hocking.
Less than a week after Barry Eilser walked away from a $500,000 dollar contract with St Martin’s Press so that he could self-publish his next novel, Amanda Hocking, the self-publishing star who has sold over 2 million copies of her e-books, has signed a seven figure deal with St. Martin’s for her next four novels.
It will be fascinating to watch Eisler’s and Hocking’s careers to see which route will be more successful in the long run. I know it’s not a very scientific study since Eisler writes thrillers and Hocking writes teen paranormal romances. As the recent Twilight saga proves, that’s a very hot market.
I’m ready for the purists to roar in outrage that she has gone over to the dark side, but I’m with her when she says that she wants her novels to be available in every Walmart, Target and airport book kiosk.
Wide print distribution is one thing the traditional publishers can still give an author, although I am doubtful about how important that will be ten years from now. Prominent placement on the front of Amazon’s website may be the ticket in 2021. But right now, this year, wide print distribution is still the fast lane to big bucks.
A band was once accused of selling out to the big record labels. (The Offspring? Green Day? I can’t remember) One of the band members replied to the journalist, “Dude! That was always the plan.” So I don’t judge Amanda Hocking for inking this deal.
Don’t get me wrong. I still believe that self-publishing is the way to go for most authors since we won’t all be internet superstars. That’s why I love self-publishing: the mid-list author can finally earn a living again.
But if I was offered a seven-figure book deal? In the bank–as bloody fast as I can arrange the funds transfer. It’s like winning the book lottery!
So who would walk away from a seven-figure book deal? Not me, baby.