Insider's Look at the Business of Mystery Thriller Writing
Writing a mystery, thriller or suspense novel is not only an artistic endeavor but also a business. Here is an insider's look at the business side of the industry:
Traditional publishing: Many mystery, thriller and suspense writers choose to go the traditional publishing route. This typically involves finding an agent who will represent the writer and sell their work to a publishing house. Once a deal is made, the publisher will handle editing, marketing, and distribution of the book.
Self-publishing: With the rise of e-books and self-publishing platforms like Amazon Kindle Direct Publishing, it has become easier for writers to bypass traditional gatekeepers and publish their work independently. Self-publishing allows writers to retain control over their work, but it also requires them to handle their own editing, marketing, and distribution.
Advance payments: Traditional publishers typically pay an advance to writers, which is a sum of money paid upfront against future royalties. The advance can range from a few thousand dollars for debut authors to hundreds of thousands of dollars for established writers.
Royalties: Royalties are the percentage of the book's cover price that the author earns. Traditional publishers typically pay royalties in the range of 8-15%. Self-published authors can earn a higher percentage, typically around 70%.
Marketing and promotion: Marketing and promotion are crucial to the success of a mystery, thriller, or suspense novel. Traditional publishers typically handle these aspects, but self-published authors must handle it on their own. This can include strategies such as social media marketing, book signings, and online advertising.
Audio rights: Audio rights are the rights to produce and distribute an audiobook version of a novel. These rights are usually sold separately from the print and e-book rights, and can bring in additional income for the author.
Foreign rights: Foreign rights are the rights to sell and distribute a novel in other countries. These rights are also typically sold separately, and can bring in additional income for the author.
Film and TV rights: Film and TV rights are the rights to adapt a novel into a movie or TV show. These rights are highly sought-after and can bring in significant income for the author.
Writing a mystery, thriller or suspense novel is a business, and understanding the industry's financial aspects can help writers to make informed decisions about their career. Whether a writer chooses to go the traditional or self-publishing route, the key is to have a clear understanding of the financial aspects of the industry and to be proactive in marketing and promoting their work.