New Videos Every Monday Morning..
Not sure about the folks who are signed up on either Bite-Sized Copyright or The Decade Ahead classes (which get new videos every Monday morning for this entire year), but I am having a blast with both classes.
48 weeks to go on both. Wow, that is going to be a lot of information, so don’t hesitate in jumping in on either or both of the classes. It won’t talk long to catch up with the first four weeks and then have new videos awaiting you every Monday on both topics. Find them on Teachable.
Copyright Valuation Topic…
Why there has not been another post yet is because I am having a battle with myself.
You see, the tried and true and tested method that came out of traditional publishing was to treat books like bananas and discount their value over time. Say if you got $5,000 in income for a book in a three year period and you have expected 30 years of life left, the book for those years would have a present value of $50,000… But wait, it would be discounted.
The value of that book for just those years might be discounted down by more than 50% depending on all kinds of factors, so the book for those years would only be worth presently $25,000.
And then for the 70 years after you die, the factors of discount grow because the standard belief is that there must be an author alive to make a book have value. (Doyle, Burroughs?) The entire 70 years might add as little as $10,000 to the book’s present value. If that. Again a ton of factors.
But over a decade ago, the world of publishing changed. So here is the issue I am fighting over with how to even talk about.
The copyright of a book now grows in value.
A book could make $500 one year, 1,000 the next, and on up. Year after year. Brand new factors have hit the market and none of them are discount factors to lower value. The factors all increase sales and value.
I would love some day to do a small Kickstarter campaign for my first published novel, to do a limited edition on it, and so on. I have no doubt that I would make far more than the $5,000 Warner books paid me in 1987. (Book never earned out and Warner reverted the rights back to me.)
And even more importantly, because of the indie movement, that book is in print and still selling, making me 70% of cover price, and has been for years. Since I put it back in print in electronic and trade paper and also put it is Smith’s Monthly, it has already passed that initial advance in sales and is continuing to grow. And I see no reason why that income would just not continue upward.
So Kris and I tried to work on this today and came up with nothing.
Traditional publishing and all the elements around it, including courts and “common practices” think copyrights of books lose value with each year over the copyright life. But in the last ten-plus years, that fact for indie writers is not in evidence. Books start slow and grow.
Copyright is a property. As I said, my parents built a house in 1962 for $20,000. It is now, without any major additions or improvements, valued for over $400,000.
Copyright is a property. Seems the indie revolution will need to clean out this “common practices” of discounting book valuations. Books are not bananas that spoil, at least not in the indie world.