Hachette to bring in new royalty statement system in 2018 - The Bookseller

Is it really that bad?

Today when Panzer was cleaning out the Panzermobile our fastidious kitty happened to look under the passenger seat and found a post from last week at The Bookseller site. The post is about Hachette's plans for a new royalty reporting statement system.

According to the post by Katherine Cowdrey, Hachette CEO Tim Hely Hutchinson sent his annual letter to all the company's authors. In the letter Mr. Hely Hutchinson says the company will begin issuing new author royalty statements. He says the new statements will be "better, clearer and more detailed." The post also details the declines in Hachette's book and ebook sales and the possible effect Brexit may have on book sales.

Panzer says, "Mr. Hely Hutchinson's letter doesn't paint a very good picture of ebook and book sales."

Note: This is a l-o-n-g post. Bring a cup of tea and a muffin for today's reading selection.

To read the post, tootle over to Hachette

Changes at ACX and Audible

This doesn't sound good.

Panzer found some important news in the Catosphere today.

If you have an audio book you produced and are selling through ACX or you plan to do one, this important announcement is for you. Whether you use ACX for exclusive distribution through Amazon, Audible and iTunes or not there will be changes to your agreement. ACX plans to change their royalty payment structure effective March 12, 2014. According to their announcement, they are lowering the royalty payments, but increasing their so-called "Bounty Payment" for new members who buy an author's audio book as their first purchase.

To read the entire announcement, tootle over to Important Announcement