Earning Out that Advance

I recently read an interesting article on Crikey about how authors are paid. (Advance Australian Authors Fair)  According to Fiona Inglis, Managing Director of Curtis Brown Literary Agency, ‘We consider money vulgar.’ This seems to be the general consensus in the publishing world, so in the same spirit I’ll confess to receiving a five figure advance for Brumby’s Run, and leave it at that. Stories abound of authors who never earn out their advance, with figures as high as seventy percent being reported by the New York Times. I’m therefore relieved to announce I’ve officially earned out my advance for Brumby’s Run after only three months. A huge thank you to all my wonderful readers out there who have made this happen! Thanks to Penguin Books Australia as well, most particularly to my lovely publisher, Belinda Byrne.

Publishers offer the advance they project your book will earn back in the first six to twelve months after publication. This sum is advanced against future royalties, kind of like a loan. It needs to be paid back before an author will see one more cent from book sales. If royalties earned fall short of that initial advance, then the author has failed to earn out, and the publisher might be reluctant to contract them again.

There is nothing quite so satisfying as receiving that first royalty cheque, however modest. It means your book has lived up to publisher expectations. Very good news indeed.

National Bookshop Day – Riverbend Books

Today around the nation, bookshops are celebrating National Bookshop Day.  This day recognises authors and their books, and the bookstores that support them.  Take a look around you at your local bookshop and take the time to say hello and well done!

Today I’m featuring another wonderful independent bookshop – Riverbend Books and Teahouse.

Riverbend Books is on the corner of Oxford and Cambridge Streets. The literary allusions that came along with the address were welcome but the name Riverbend harkens back to the early days in Bulimba when Indigenous Australians called the area Tugulawah, which translates as Riverbend. And that is exactly what the river does in Bulimba. It takes a 90 degree right hand turn as it winds its way out to Moreton Bay, and the river itself forms two of the boundaries of this suburb. Older residents of Bulimba refer to their suburb as the Island because of its watery boundaries. There is a sense of community that is engendered because people do not travel through Bulimba on their way to somewhere else, Bulimba is always the destination.

Riverbend is proud to be part of this community and one of the stores that takes its place amongst the many stores, cafes, cinemas and the beautiful Oxford Memorial Park that line the Oxford St strip down to the river. Many of our customers love to travel here by City Cat or ferry and wander up the street to visit us. The ambience of the shop is warm and friendly with a beautiful deck out the front where you can enjoy some lovely light, fresh meals and of course great coffee or a glass of some lovely Australian wines.

In the thirteen years since we have opened we have very much enjoyed being part of the local community. Our raison d’etre has always been to encourage a culture of reading in the local and wider community, and we run an extensive program of author events, workshops, host bookclubs and then there are the regular bookchats that our staff give to a wide variety of groups from Teacher librarian network groups, social groups, work colleagues and bookclubs.

In 2004 Riverbend launched a project within the local community that was aimed at raising funds to support literacy in remote Indigenous communities where literacy levels are very low. This project attracted enormous support and a snowballing of goodwill. In 2006 it became a national book industry initiative in partnership with The Fred Hollows Foundation and you can find out all about it at: www.indigenousliteracyproject.org.au

Recognition by our peers in the publishing industry has provided us with some highlights along the way. Riverbend has won Queensland Independent Bookshop of the Year 6 times and Australian Independent Bookshop of the Year twice.

Tomorrow the intrepid Helene Young comes to visit – romantic suspense author and aviator extraodinaire!

Riverbend Books and Teahouse is located at 193 Oxford Street, Bulimba Queensland 4171 (on the corner with Cambridge Street).

Phone:  07 3899 8555  Email info@riverbendbooks.com.au