Literary agent (as well as ebook publisher via E-Reads) Richard Curtis posts on his site about Random House’s recent letter to agents explaining their intention to reduce ebook royalty rates on new contracts as of December 1. The new proposal is for a royalty of 25 percent of amount received on sales–compared by Curtis to an earlier contract that provided 25 percent of the retail price until the advance was earned out, and 15 percent thereafter. (Authors who agreed to a lower electronic royalty in the early days will have their rates adjusted upwards.) The company says their previous rates […]
