Amazon, in hopes to pull in exclusive rights to their Kindle line, actually bid against publishers for Amanda Hocking’s trade books.
According to several online sources, including Crains New York Business, Amazon has emerged as a “surprise underbidder” for the self-published author – the first time the online retail giant has bid on the frontlist. Amazon brought in Houghton Mifflin Harcourt into the bid to ensure Ms. Hocking’s books would be carried by Barnes and Noble. But there is the question whether the number one bookstore chain “would want to carry a book published by its biggest rival, even if it carried the logo of a respected trade house.”
Even though Amazon made the highest offer, it was Amazon’s insistence on exclusive e-book rights that made the offer “less attractive.” Hocking eventually chose St. Martin’s Press who paid $2 million for the series of four novels.
“[Amazon] has less than 65% share of the e-book market and dropping, and 20% to 30% of the print market,” the executive said. “[The author and agent] would have anticipated significant lost sales.”
Amazon has done deals with authors in the past, but normally with backlist titles or special projects. And in this case, Amazon is at a clear disadvantage when it comes to the print edition. This failure to acquire the titles may demonstrate “some of the difficulties the company may have it if continues to pursue potential blockbusters as part of a strategy to maintain its Kindle store’s dominance.”
Advice from Authors and Agents
Amanda Hocking defended her decision to go with St. Martin’s Press on her blog.
“I only want to be a writer,” Hocking said. “I do not want to spend 40 hours a week handling e-mails, formatting covers, finding editors, etc. Right now, being me is a full-time corporation.”
A true, if naive statement. Agents and authors recently offered Ms. Hocking advice on Forbes.com, the positive and the negative. In short, she’s in for a lot of work – a lot of the same work she wanted to get away from; however, she has a heavy hitter in her corner, too. That takes some pressure off, to a degree.
Kristen Tracy, author of Lost It [Simon and Schuster], A Field Guide for Heartbreakers [Disney], The Reinvention of Bessica Lee [Random House] says, “What she’s accomplished with eBook sales is impressive. And closing such a big deal with St. Martin’s is impressive in different ways. Yes, it’s great money. But at the end of the day I’m not sure what a writer wants can be calculated in dollars alone.
She only committed to four books and she still has the ability to write eBooks while under contract. I don’t think she’s losing anything. She tried publishing without a house and was wildly successful. Now she’s publishing with a house and has a wildly successful track record and a big pile of money.”
I don’t think Ms. Hocking is losing anything either. She’s trying out the publisher waters, and if it helps relieve some of the pressure, then so much the better.
Thanks to Dennis Foley for sending the original article.
Source: http://www.idealog.com/blog/its-official-putting-books-in-stores-is-a-subsidiary-right
