So, I got my first royalty statement from Sage Publications for my recent book:
(You can see my post I’m a published author!)
Excited about my giant new income from this instant best seller (can textbooks even be best sellers?), I ripped it open.
And, alas it was worse then I imagined.
At the bottom, next to TOTAL ROYALTIES, is written -11.70.
Yup, that’s right, negative royalties. I didn’t even know it was possible.
Apparently, there is something called ‘indexing fees’ which was deducted from the royalties I would have gotten – and the fees were more than the royalties! I’m sure this was all in the contract and probably explained to me at one point, but obviously I was not paying attention.
My husband thought it was hilarious, “You owe them money, ha!”
Ha. Ha. Ha.
Actually, it was pretty funny.