Headaches about splitting book royalties and managing a transparent business? Not anymore!
PublishDrive saw an increase in the number of romance and fantasy authors who signed up to our platform. More self-published authors within these genres are using co-authoring as a way to collaborate and share the writing workload.After personally chatting with these authors, we learned that they lacked something important. What’s missing is an easy, reliable way to split book royalties for co-authors.
We’re thrilled to announce we’ve released a new feature called Team Royalties, which makes it easy to split royalties between co-authors and other contributors.
Learn more about this feature below and discover how easy it is to get started with hassle-free co-authoring.
Royalty Splitting Made Easy
Most self-publishing platforms lack a way for authors to split royalties between contributors. After being paid out to the account owner, it’s up to that person to further distribute the earnings. This can become a logistical mess; not to mention, it’s pretty time-consuming.
Team Royalties eliminates all of that. With a secure opt-in process, account access restrictions, and automatic splitting, authors can finally enjoy a hassle-free co-authoring experience.
This new feature provides the following benefits:
- Secure Opt-In Process: Only the book owner (the person who uploads the book to the platform) can add a co-author, and royalty sharing is enabled only when both sides confirm.
- Convenient Royalty Splitting: At the end of each pay period, royalties are automatically distributed to the confirmed authors based on the fixed percentage set by the book owner.
- Account Access Restrictions: The co-author(s) assigned by the book owner can access the book’s metadata and sales data, but cannot edit the book.
- Unlimited Number of Co-Authors: One book can be shared with any number of co-authors.
How it Works
Upload a Book
A book is eligible for Team Royalties when it has been uploaded to PublishDrive (both live books and books uploaded as drafts are eligible).
Send or Accept the Invite
If you’re the book owner, navigate to My Account > Team Royalties > My Shared Books. This is where the book owner can send invites to any number of co-authors or other contributors.
To start, just send an invite to your co-author for the selected book*. On the invitation, you can also specify the terms of the agreement, including the start date and percentage that each contributor will receive.
*Note: Only the book owner can initiate sharing through Team Royalties. Also, co-authors and contributors must be PublishDrive users to participate.
If you’re a co-author or contributor, navigate to My Account > Team Royalties > Books Shared with Me, and accept your pending invitation(s).
Once all parties agree to the terms by accepting the invitation, then you’re all set! The royalties are automatically distributed to each confirmed contributor at the end of the pay period.
What if I Want to Cancel or Change the Terms?
Changing the terms of your Team Royalties agreement is easy. If you’re the book owner, simply navigate to the Team Royalties page and click on My Shared Books. Then, select Terminate or Edit for the specific book. Once the co-author(s) accept the updated terms, they will go into effect immediately.
Updated Features as of April 2019
Based on user feedback, we made some improvements to our Team Royalties feature. You can now take advantage of the following:
- More Access for Co-Authors: For successful co-authoring, it’s important that all contributors have access to the book’s information and live store links. Co-authors can now view any shared book under “Books” in the main menu. Here, they can see the book’s metadata and the store links.
- Expanded Use for Marketing Features: We’ve made it easy for any contributor on your team to boost sales. Co-authors can now create Amazon advertising campaigns for shared books, and use our built-in marketing features.
Try it out today!
If you’ve been seeking a more streamlined way to split co-author royalties, then you’re going to love this feature. Although a paid service, all users who activate the service from now until the end of April 2019 can use it for free through the end of the year.
For more detailed information about how the feature works, read our Help Center article.
If you’re looking for something a bit more powerful than what’s mentioned in this article, PD Abacus is for you. The tool combines automatic royalty-splitting with other management features:
- Calculate co-author royalties for Amazon KDP books (including KU) along with other costs and revenue streams.
- Add as many team members as you want per title. For added security, only the book owner has access to the full sales data and royalty percentages.
- Generate detailed royalty reports for your team. Contributors can only see their share of royalties, giving you full authority on calculating finances.
Here’s what Stephen Campbell from LMBPN® Publishing said:
“PD Abacus will save meaningful amounts of time for LMBPN® Publishing. The royalty calculation, confirmation and distribution process for our hundreds of books and audiobooks to dozens of authors has taken days of staff work each month. That process shrinks to a few hours with PD Abacus.”