On ACX, you can get paid one of three ways to record an audiobook: a certain amount per finished hour (PFH), on a royalty share basis, or, in the best of all deals, a stipend book.
That’s an audiobook job that not only pays you a great rate per finished hour, but then sweetens the pot with the royalty share for every copy sold. So it’s like a combo deal.
I advise my students and clients to concentrate on auditioning for, and booking, stipend jobs. They guarantee you income even if the book doesn’t sell well.
But there is one case where I’d suggest you seriously consider a royalty share only book.
Here’s that case.
My client, Shelley, wrote me and asked:
I just got approached by an author of a book with the below impressive amazon rating but it’s NOT in the stipend program.
I’ve been pretty adamant about only accepting stipend books, as you suggest.
But what is your thought on this one?
Hope you’re well:)
And she copied and pasted the area of the book’s description on the ACX project page that said this:
Book two in the NEW YORK TIMES and USA TODAY Bestselling series
Amazon Best Sellers Rank: #55 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
#7 in Kindle Store > Kindle eBooks > Teen & Young Adult
#9 in Books > Literature & Fiction > Genre Fiction > Coming of Age
#9 in Kindle Store > Kindle eBooks > Literature & Fiction > Genre Fiction > Coming of Age
Well, OK then.
I advise you not to take on royalty share only books unless you do your homework on the author’s sales. You don’t want to do all that work, only to get a few paltry dollars in royalties. Of course, if you’re still learning, take any book you can get so you get the experience.
But this one’s an exception.
This one’s an NYT and USA TODAY best seller. These are amazing ranking numbers. And if a book is selling this well, then you have a much better chance of making some serious coin on the sales of the audiobook.
So, if the book is in the top 10% in its categories, it may be worth taking on. And if a book is in the top ten numerically, it’s a green light for me.
And the first approach to take is to offer the RH a hybrid stipend deal. We talk about this in our ACX classes – it’s essentially an RH-funded stipend of $100+ per finished hour, in addition to the royalty share that the RH would offer through ACX.
You’d make this deal separately with the author, via email. And you’d do so at a point depending upon their contact with you – if they asked you to audition (or gave you an offer), reply back with your gentle counteroffer, the hybrid stipend. If you’re auditioning for them, make the counteroffer not when you audition in your notes, but when they make you an offer. Terms are usually 50% down, 50% when the I’m Finished button is about to be pressed, or Headed to Retail is achieved.
You can always accept a pure Royalty Share deal as a fall back – but remember to do your homework on the title and the Rights Holder!
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Hope this helps.