Although some book publishing people have advised CelebrityAccess that Knopf will not make any money on its $10 million advance on the forthcoming book by Bill Clinton — and admittedly there can be professional bias involved — the New York Daily News dissected how the huge advanced can be recouped. Of course, there are a lot of variables included that can changes between now and the date of publication.
Sale of rights to international publishers $3.5 million
Audiobook, E-book edition, book club sale $300,000
Sale of excerpts to magazines $200,000
Royalty on hardcover at 15% of $32 price; $4.80 on 1 million copies $4.8 million
Royalty on trade paperback at 8% of $15 price; $1.20 on 100,000 copies $1.2 million
Total $10 million
In addition, additional hardcover and paperback sales will add to the total, as would royalties on signed, leather-bound, and other premium editions.
Also, on Clinton's side of the equation, he did not employ an agent at the customary 15 percent. He used his Washington attorney Robert Barbett who charges his clients about $500 an hour.
