How Book Advances and Royalties Work

Money in publishing! How does it work? I'm going over how advances and royalties work in traditional publishing. Everything you need to know! How advances are determined, earning out, future advances, payment schedules, living off book money.

The Medium article that inspired the latest conversation about money in publishing:   / how-to-lose-a-third-of-a-million-dollars-w...  

My advances spreadsheet: http://alexadonne.com/wp-content/uplo...

TIMESTAMPS
02:21 Advance basics/payment schedules
05:35 How do publishers determine advances?
09:00 Payment schedules/delays
11:31 Earning out (joint vs. separate accounting)
13:39 Why not earning out is not failure
16:05 What should you do with your advance?
18:01 Living off your advance
20:17 Royalty basics
23:52 Don't run away from traditional publishing though!
24:35 Advances & marketing
26:23 Your sales history will follow you
27:25 Advances are going down across the board
30:20 Financial planning/advising

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