Story #27…
Just Kind of Stumbling Along…
Got some adjustments to make, but about to drop this challenge into the publishing part. That’s going to make it even more interesting. Story tonight was a Bryant Street story and I started it with a play off of Serling’s old Twilight Zone episode starts. Kind of fun.
Also I think I got it finally why writers have trouble with valuation of their own property.
Here is the analogy. If you built say a theater complex with all kinds of extras involved. And you opened it for business and the first night it made $500, if you were a writer you would think that theater complex was only worth $500.
But in the real world, you would know that is not how property is valued. The theater complex would be worth far, far more than one night’s income.
Your story, your novel, is a property. One tiny bit of income is not how the property is valued.
Long day, headed for some sleep.
4 Comments
LM
There’s an interesting legal case in SK right now where a girl group called New Jeans declared their freedom from their exclusive contract with agency Ador. 2 years into a 7 year contract. One of the boggling things they said was they’d outearned the initial investment in them, implying the agency shouldn’t fight for their ROI in the contract termination penalty fee.
Not how it works. That fee is calculated based on the expected return, so their 2 years annualized return by the 5 years they might not get. In other words, they earned a lot in their first two years so the penalty is much higher, not reduced because they already delivered a return.
IP valuation is similar. It’s about the value of the life of the property, not the cost of one copy during your rookie debut.
dwsmith
Exactly, LM. Exactly. Thanks!!
Vincent Zandri
It’s difficult to get the concept through writers minds that their IP is worth anything at all which is why so many are willing to work/publish for free which is insanity. A novel that makes 50 bucks one month has the potential to make tens of thousands of dollars down the road. I’ve had at least a couple of novels that were a big yawn when first published but then went on to sell hundreds of thousands of copies when repackaged. Other books sell slow and steady and before you know it, your profit is in the high five figures.
dwsmith
Exactly, Vincent. And so much more.