Since the Penguin Random House antitrust trial hinged on author advances, witnesses explained publishing contracts, advances, royalties—and when the author sees that money. Agents also broke down how they’re paid. Author Compensation Hachette Book Group ceo Michael Pietsch explained that an author’s contract “includes a grant of rights of the ability to sell it in a particular territory, often North America, sometimes around the world, including translation rights,” plus a royalty to the author for every copy sold. There are also royalty rates for licensing or translating the book, or for excerpts being published in magazines (called “first serial” rights). […]
