Authors & Speakers Network Blog with Larry James

Saturday, December 13, 2014

The Importance of Foreign Rights

Filed under: Foreign Rights — Larry James @ 8:30 am
Tags: , , ,

Bob Erdmann, Guest Author

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?

ForeignRightsOK, 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.

Book publishing is now on a very fast track which makes the smaller, independent publisher vulnerable to the whims and fancies of a very fickle industry. Barnes & Noble and Borders will be the first to tell you that if your book doesn’t sell very, very quickly they won’t be carrying it much longer than a cup of coffee. The same is true with Ingram and Baker & Taylor, or your distributor if you use one. As a wise investor, you need to diversify your financial assets. Build a foreign rights revenue stream to protect your number one asset!

What is the market? Simply stated, there are tens of thousands of foreign publishers in nearly 400 countries. They are looking for books that will “travel”, meaning that the content will be applicable in their country as well as the United States. Too many references to American people, places, institutions, culture, etc. will not mean much to a reader in a foreign country. Books under 250 pages are perfect. A 250 page book in most European countries would swell to more than 330 pages, thus negatively affecting the production costs, retail price, and ultimately reducing potential sales. Conversely, a 250 page book in most Asian languages will shrink to under 175 pages because of the efficiency of the languages.

The hottest categories always seem to be business, psychology/self help and other nonfiction subjects. But the foreign publishers are looking for books with specificity in those subjects, not just another “ho-hum, me-too” book. And not books that are obviously purely for the author’s self-gratification. It’s not enough for a business book to say “managing your business is a good idea”, the book needs to say specifically how to do it, and preferably with a unique angle. The countries that seem to be the most active recently are, but not limited to: China, Russia, Korea, Japan, Indonesia, Thailand, India and most of the eastern European nations.

You must make a commitment to foreign rights as an integral part of your publishing program. It doesn’t work to simply put your toe in the water once and decide if you like the temperature or not. I like to say that “it’s a marathon, not a sprint.” It’s not your one attempt, or your one deal, that creates a successful foreign rights program and consequently maximizing your investment. It’s the aggregate of frequent attempts and the many deals that will result from those attempts. I have clients in my annual Foreign Rights Programs who, after only two or three years participating, have contracts with 8 or 10 or 14 different foreign publishers for a single book. Any one deal is nice, but multiply that one book times 8 or 10 or 14 and the additional revenue from that asset is quite significant.

The Frankfurt International Book Fair is acknowledged as the world’s main and most important venue for foreign rights. It’s the granddaddy of them all! If you had to choose only one book fair for your book(s) for foreign rights sales, Frankfurt would be the well-informed, unanimous choice. Housed in ten buildings (many three stories tall) it’s thirty times larger than the London Book Fair and almost fifteen times larger than BookExpoAmerica. And most important, it’s one-stop shopping. The nearly 400,000 publishing people from every corner of the world who attend the Frankfurt Book Fair are there for one reason only….to buy or sell foreign rights.

How much revenue can you expect? That, of course, varies. It could be a little or a lot and you must be realistic in your expectations. The value will vary from country to country and from book to book. And the long-term value depends on how well it sells in a given country, just like in America. I have represented books in my Foreign Rights Program that have proven to be huge successes. An exceptional success I like to mention is the time one of my clients, a self-published author, received his first royalty check for $750,000 for the initial six month period from a Korean publisher.

The other extreme is that I have had books in my Program that earned no royalty beyond the advance. Again, just like in America, it depends on how well your book sells. The foreign publisher wants your book to be successful, perhaps even more than you do. He will make every effort to accomplish that goal since he will have a substantial financial investment in his edition of your book since he will have already paid you an advance and incurred production, printing and marketing costs.

So treat your book as a financial asset, diversify your investment to protect your interests, and search for those other potential revenue streams. Why not begin with a risk-free, minimal cost, foreign rights effort.

BONUS Articles: Foreign Rights
The Check’s in the Airmail: Foreign Publication Rights
Investigate Foreign Rights for Your Books

Copyright © 2014 – Bob Erdmann. For free information on “The Importance of Foreign Rights” and how to create a foreign rights revenue stream with no money down contact veteran publishing and foreign rights Guru Bob Erdmann. Bob gets 5 stars from Larry James. He has sucessfully sold the foreign rights to two of my books which put them in 9 other countries – India, Poland, Malaysia, Singapore, Brunei, Thailand, Indonesia, Philippines & Vietnam. He currently represents more than 200 North American authors and publishers of non-fiction books. Send your request to: bob@bob-erdmann.com or call 925-274-1348. Visit Bob’s Website at: http://www.ColumbineCommunications.com/

ljspacer

A&SNetLOGO150

Authors & Speakers Network Blog

Larry James is a professional speaker and the author of three relationship books, “How to Really Love the One You’re With: Affirmative Guidelines for a Healthy Love Relationship,” “LoveNotes for Lovers: Words That Make Music for Two Hearts Dancing” and “Red Hot LoveNotes for Lovers.” His newest book is “Ten Commitments of Networking.” Larry James also offers “Author & Speaker” coaching. Contact: AuthorsandSpeakersNetwork.com, P.O. Box 12695, Scottsdale, AZ 85267-2695. CelebrateLove@cox.net – More than 110 articles especially for Authors & Speakers at: www.AuthorsandSpeakersNetwork.com

Subscribe to Larry’s FREE monthly “LoveNotes for Lovers” eZINE. Contact: CelebrateLove.com, P.O. Box 12695, Scottsdale, AZ 85267-2695. – CelebrateLove.com and CelebrateIntimateWeddings.com

NOTE: All articles and “LoveNotes” listed in this BLOG – written by Larry James – are available for reprint in magazines, periodicals, newsletters, newspapers, eZINEs, on the Internet or on your own Website. Click here for details.

letsbefriends2

Add Larry James as a “friend” to your Facebook page: http://www.Facebook.com/larry.james
Follow Larry’s “once daily” Relationship Tweet at: http://www.Twitter.com/larryjames
Follow Larry’s “Relationships” BLOG at: http://CelebrateLove.wordpress.com
Follow Larry’s “Networking” BLOG at: http://NetworkingHQ.wordpress.com
Follow Larry’s “Weddings” BLOG at: http://CelebrateIntimateWeddings.wordpress.com
Follow Larry on Pintrest at: http://www.pinterest.com/larryjames2012/authors-speakers-blog/

Tuesday, October 19, 2010

Investigate Foreign Rights for Your Books

Filed under: Author Articles,Foreign Rights — Larry James @ 7:00 am
Tags:

One significant revenue stream that is often overlooked, is foreign rights. Foreign publishers are desperately seeking licensing rights to good non-fiction books in their countries and look to American authors and publishers in search of those quality books.

What are Foreign Rights?

Foreign rights are a type of subsidiary rights – or subrights – attached to your book. Like other subrights (movies, book clubs, paperback reprints, electronic, audio, etc.), foreign rights can be sold and controlled separately from your book’s primary rights.

russianlifeskillsForeign rights are also called translation rights, a practice which can create confusion because, depending on the selling territory they’re attached to, foreign rights may well be in English. (Note: Foreign rights to my book, “Ten Commitments of Networking” is selling in India and Malaysia in English.)

Foreign rights is a win/win situation for American authors and publishers to develop a major revenue stream with no money down.

(Photo of book cover on the left is the Russian version of my book, “The First Book of Life Skills,” (English version is no longer available in bookstores. Signed copies of the English version are available from Larry James). The only way I could tell that is was my book is my photo is on the back cover.) 😉

Read, “The Importance of Foreign Rights” by Bob Erdman.” Learn how to create a foreign rights revenue stream with no money down by contacting veteran publishing and foreign rights Guru Bob Erdmann. Bob gets 5 stars from Larry James.

Bob Erdmann, founder and president of Columbine Communications and Publications, a foreign rights publishing consultancy, started off his program with a definition: Foreign rights is licensing a foreign publisher to reprint a book in English or translate that book into another language, and for that you’re paid a royalty arrangement, very similar to an author/publisher arrangement.

translations1Not every book is a candidate for foreign publication. However, lots of nonfiction titles are pretty much timeless books, especially if they are self-help, business, personal development, success or parenting books. By having your book translated into other languages, more people will benefit from your message, you will gain a new profit center and the sale counts as an “endorsement.” Publishers in other countries translate your book, design it, typeset it, have it printed and then plug it into their existing distribution system.

Bob has sucessfully sold the foreign rights to two of my books which put them in 10 other countries – India, Poland, Malaysia, Singapore, Brunei, Thailand, Indonesia, Russia, Philippines & Vietnam. Send your request to: bob@bob-erdmann.com or call 209-586-1566. Visit Bob’s Website at: http://www.ColumbineCommunications.com/.

It is well worth the while of any publisher to take advantage of the extra income that can be provided by foreign rights deals. While the advance you get isn’t much, it gives you world wide exposure for your work. For a fee, Bob gives your book exposure through face-to-face contact at the Frankfurt International Book Fair (Germany) – the world’s largest book fair.

Read:The Importance of Foreign Rights” by Bob Erdman.
Build a Foreign Rights Revenue Stream – Part I” by Bob Erdman.
Build a Foreign Rights Revenue Stream – Part II” by Bob Erdman.
Do You Know Your Foreign Rights?” by Deanna Carlyle
The Check’s in the Airmail: Foreign Publication Rights” by Aaron Hierholzer

NOTE: Although I do not accept money to refer good people, I would appreciate it if you would mention my name (Larry James) so Bob knows where the referral came from. Also, I do not recommend that you attempt to seek out foreign right opportunities yourself. It is time consuming and doing it yourself may not be worth it. Talk to Bob Erdman or someone who has the expertise of the world book market. It will save you lots of time and money.

Copyright © 2010 – Larry James. Larry James is a professional speaker and the author of three relationship books, “How to Really Love the One You’re With: Affirmative Guidelines for a Healthy Love Relationship,” “LoveNotes for Lovers: Words That Make Music for Two Hearts Dancing” and “Red Hot LoveNotes for Lovers.” His newest book is “Ten Commitments of Networking.” Larry James also offers “Author & Speaker” coaching. Contact: AuthorsandSpeakersNetwork.com, P.O. Box 12695, Scottsdale, AZ 85267-2695. CelebrateLove@cox.net – More than 110 articles especially for Authors & Speakers at: www.AuthorsandSpeakersNetwork.com

Subscribe to Larry’s FREE monthly “LoveNotes for Lovers” eZINE. Contact: CelebrateLove.com, P.O. Box 12695, Scottsdale, AZ 85267-2695. – CelebrateLove.com and CelebrateIntimateWeddings.com

NOTE: All articles and “LoveNotes” listed in this BLOG – written by Larry James – are available for reprint in magazines, periodicals, newsletters, newspapers, eZINEs, on the Internet or on your own Website. Click here for details.

letsbefriends2

Add Larry James as a “friend” to your Facebook page: http://www.Facebook.com/larry.james
Follow Larry’s “once daily” Relationship Tweet at: http://www.Twitter.com/larryjames
Follow Larry’s “Relationships” BLOG at: http://CelebrateLove.wordpress.com
Follow Larry’s “Networking” BLOG at: http://NetworkingHQ.wordpress.com
Follow Larry’s “Weddings” BLOG at: http://CelebrateIntimateWeddings.wordpress.com

Blog at WordPress.com.

%d bloggers like this: