Every Quartet partner is pro-advance. Right now, however, we are in start-up mode, and, as such, want to make sure we are doing right by our authors. This means making sure we invest our capital in systems (see: discussions about royalties, etc) and marketing and the myriad other things that go with starting a new business. We believe that part of being author-friendly is being fiscally responsible. We also believe that part of being author-friendly is making sure we support our books.

While the no-advance model isn’t limited to digital publishers (no or token advances are not atypical of small independent press), I’d note that many of the traditional publisher we discuss in the world of romance are long-established. They have decades of backlist supporting their cash flow, thus allowing them to leverage the sales of other authors to pay new author advances. It’s not about capital; it’s about using the capital you have in a smart way. While I cannot say for sure, I believe it takes at least five years or so before a publisher has that kind of backlist support. Once we feel we have achieved a smart balance between supporting our contracted authors and offering new authors advances, we will revisit this policy. Being smart about money is good for everyone.

So moving on, I cannot answer the question of how long between acceptance and publication with any definitiveness. Right now, we are acquiring titles to be released at launch through, oh, the first quarter of 2010. I can say I’m willing to set a time limit between contract and release, but would also note it’s a two-way street. We can set schedules, but authors need to be timely and realistic about their ability to turn around revisions, etc. As we fill out our list, it’s possible the time to publication can extend to six or more months. It’s not that we want to tie up your money (because, believe me, I get that!), but it’s that once we move into a regular release schedule, we’ll be looking further and further into the future.

If it helps you in your decision making process, in the current digital publishing environment, time from contract to release is much faster than it is the traditional publishing world. Likewise, the time you wait to get paid on sales is accelerated. Setting aside the advance (which we all know is shrinking in this current market), because we are reporting on a cash basis, we’re reporting your results in a more timely manner and paying in a more timely manner (not to mention not holding back reserves for returns, etc, which can take some time to liquidate — one of the ways traditional publishers manage their own cash flow). Having been on the liquidation of reserves side of thing, the time frame, unless very specific in the agreement, is dependent upon factors such as how long it takes for customers to report returns. You’d think this stuff would be tight, but it’s not. Those reserves are, frankly, your money being withheld from you. I’m not saying it’s wrong on the part of your publisher, but when it comes to considering the best choice for your career, consider the time these reserves are held.

I would strongly advise every author to make decisions about her (or his!) career based on factors that meet their own personal goals and career path. Digital publishing offers specific advantages, traditional publishing offers specific advantages. Sometimes there’s overlap, sometimes there are distinct differences. You note at the end of your comment that epublishing is part of the present. I agree. It’s not the future. It’s part of the mix. Authors must make decisions that work for their careers based on all available information.

As we move past our start-up phase and grow, we will be reviewing and revising our business plan. We fully anticipate Quartet being successful. We wouldn’t be doing it if we didn’t believe we have a viable business — a business that meets our core mission, a mission that includes being true to the reader, the author, and the story — in place. While I know the arguments on both sides far too well, I also know that, for our authors, being smart about how we run our business is important.

I’d like to ask some questions about advances. I understand that e-publishers generally don’t pay an advance on royalties, and until recently, that made sense. Books were released within a month or two of contracts’ being signed, and royalties were paid on either a monthly or quarterly basis–no point in paying an advance when the first royalty check might arrive at the same time. As e-publishers have grown, however, and their lists of titles have increased, it’s become more common for books to be released four, six, even nine months after acceptance.

Understandably, authors are distressed at having to wait as much as a year (9 months + 3-month quarter) before they receive *any* money for work they finished eighteen or more months earlier. Many writers’ organizations are currently engaged in vigorous debates about that very issue, and many authors are unwilling even to consider submission to **any** kind of publisher that doesn’t pay an advance for the simple reason that they consider such payment a sign of professionalism–not to mention, they need to eat.

I’ve heard both sides of the argument, and I believe there *must* be a middle ground–a solution that would entice multi-published authors with large fan bases (authors any reasonable publisher would love to have) to submit their work to e-publishers. Toward that end, I have several questions; to wit:

How soon after acceptance does Quartet plan to release books? Are you willing to include in the contract a clause that sets a time limit on how long you have to release the book, such limit to be appropriate to the no-advance policy (similar to standard print-publishing contracts that require publishers to publish titles, usually, within twelve to twenty-four months or revert the rights)? Later, as Quartet’s schedule fills and books have to be released months after acceptance, will you consider altering the contract to pay advances? Are you willing to consider a contract clause that stipulates a title will be released within a given amount of time (say, 3 or 4 months after acceptance of final ms.–i.e., post revision), and if it isn’t, an advance will be paid to the author?

I look forward to hearing your responses to these questions–and to any discussion about the issue that might ensue.

I’d also like to take this opportunity to offer my sincere best wishes for Quartest’s success. I, unlike many of my colleagues (multi-published authors), believe that e-publishing is not merely the future, it’s the present–and that the entire book industry may very well hang on its success.

I’m fascinated by your posts of setting up Quartet and I very much appreciate the business transparency you foster. It’s refreshing and educational and engaging. Hope to meet you this week in DC!

Melissa

We are absolutely planning to be in the Kindle store. It’s great exposure to a broader reading community, Kindle sales (both reading device and actual books) are increasing, and to ignore it would be doing our authors a disservice. Our contract states we pay 35%, etc on the amounts received. That amount depends on our relationship with Amazon, which is still being worked out (ah, the wheels of commerce, they turn far more slowly than I’d like!). Because Amazon is, shall we say?, aggressive in their practices, we will also make Kindle-ready versions available via our website.

Royalties are calculated on the amounts we receive, whether it be from direct sales on our site (the so-called “cover price”) or the amount received from third party distributors.