REDUCING ROYALITIES AS THE REWARD FOR SUCCESS
Hopefully this is a trend that will not spill out of Australia.
In Australia author’s traditionally receive a 10% royalty and that includes the same percentage on reprints. If a book is reprinted two or three times, the publisher should be happy to the author 10%, right? Wrong, at least with Penguin in Australia.
Penguin has 16% of the Aussie book market has announced that royalties on reprints will be reduced.
“PENGUIN, the nation's biggest publishing house, plans to cut the royalties of Australian authors whose books go into reprint in a move writers say will punish them for success.”
The fully story can be found in The Australian.