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How to Sell Foreign Rights
Presented by Bob Erdmann
as part of the 2010 Nonfiction Writer's Conference
The Importance Of Foreign Rights To The Nonfiction Writer: Building A Foreign Rights Revenue Stream With No Money Down
The most successful publishers and self-published authors I’ve worked with in my four+ decades in book publishing have been those who understood that (1) publishing is a business, not a hobby; (2) have been tireless promoters of their books; and (3) fully realized that a book should be considered as a financial “asset” and as such it should gain the largest return on investment as possible. Number 3 means fully maximizing multiple revenue streams from that asset and a very meaningful revenue stream, and one that is minimally cost intensive, is foreign rights. That’s right, minimally cost intensive! The foreign publisher bears all the costs involved and pays you for the right to translate and publish your book in their country. That’s a pretty good deal, a “no-brainer”, right?
OK, you’re probably wondering “what’s this all about, how does it work?” It’s really pretty simple. Foreign publishers world wide are aggressively seeking books to publish. More often than not, work by quality authors is simply not readily available in their countries so they seek acquisition of licensing rights to books already published in other countries, especially America. You, the American publisher (or self-published author) license the right to a foreign publisher to reprint, market and distribute your book in either English in English speaking countries, or translated into a foreign language in non-English speaking countries. The entire cost to do this is borne by the foreign publisher, who pays you an advance and royalty for this licensing right. This is found money for you and a very simple way to create a significant revenue stream from your financial asset—your book—thus helping to maximize the return on your investment.
In this session you will learn:
* What foreign publishers are looking for and how to approach them
* The process involved in pursuing a foreign rights deal for your book
* How to evaluate an offer
* Key elements you need to know with contracts
* Procedures to monitor your sales and royalties
Bob Erdmann has been a publishing consultant for over 30 years and has successfully negotiated thousands of foreign rights agreements.