Headaches about splitting book royalties and managing a transparent business? No need for that at all.
In 2019, PublishDrive saw an increase in the number of romance and fantasy authors who signed up for our platform. More self-published authors (and book publishers) within these genres are co-authoring as a collaborative effort to share ideas, share writing workload, and more. After personally chatting with these groups of people, we learned that they lacked something important: an easy, reliable way to split royalty payments for co-authors for any amount of books.
That's why we went into problem-solving and developed the Team Royalties feature, which is a tool for splitting royalties between co-authors and people working together.
Let's see how to split royalties and get started with hassle-free co-authoring.
Royalty Splitting Made Easy
We didn't want to let authors split royalties between contributors manually. This can become a logistical mess and pretty much time-consuming.
Team Royalties eliminates all of that with a tool for virtual collaboration—with a secure opt-in process, account access restrictions, and automatic splitting, authors can enjoy a hassle-free co-authoring experience.
Even better, many publishing houses from a traditional publishing background also love this feature, as it opens up huge time and financial savings for them on the reporting, payment, and taxation end.
This new feature provides the following benefits for all types of books and authors:
- Secure opt-in process: Only the book owner (the person who uploads the book to the platform) can add a co-author for royalty split, and sharing is enabled only when both sides confirm.
- Convenient royalty splitting: If you're wondering how do co-authors get paid using this feature, you should know that 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. With Team Royalties, the authors add their taxation and banking info, and royalties are paid out to authors automatically based on the reports that PublishDrive generates.
- Account access: The co-author(s) assigned by the book owner can't edit the book, but the royalty split agreement allows them to view any shared book under Books in the main menu, together with the book's metadata, sales data, and store links.
- An unlimited number of co-authors: One book can be shared with any number of co-authors.
- Expanded use for marketing features: With the split author royalties feature, we've made it easy for any contributor on your team to boost sales. The co-author collaboration agreement includes the possibility of creating Amazon advertising campaigns for shared books and using our built-in marketing features.
How to Split Royalties using PublishDrive’s Team Royalties
The process of splitting royalties is streamlined so that every co-author can get paid without any inconvenience.
Let's see how to split royalties using our feature.
Upload your book
A book is eligible for the Team Royalties feature when it has been uploaded to PublishDrive (both live books and books uploaded as drafts are eligible).
To upload your book, click on Add book button, which you'll find in the header.
Send or accept an invite
If you're the book owner, go 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 royalty split agreement, including the start date and royalty 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 book royalties are automatically distributed to each confirmed contributor at the end of the pay period.
Changing/canceling the split royalties terms
If you're the book owner, go to the Team Royalties page and click on My Shared Books. Then select Terminate or Edit for the book. Once the co-author accepts the updated terms, they will go into effect immediately.
Manage Royalties Without Distribution with PD Abacus
Abacus is another type of royalty split agreement.
If you're looking for an accessible yet powerful way to split royalties independent of PublishDrive's distribution network, then PD Abacus is for you. With this feature, you can use only the management tools that help you work collaboratively on streamlining author royalties.
The tool combines automatic payment-splitting with other management features:
- Calculate co-author royalties for all book formats, such as print-on-demand, ebooks, and audiobooks.
- Calculate co-author royalties for Amazon KDP books (including Kindle Unlimited) along with other costs and custom revenue streams, like books sold in your own store or book sales at author signings.
- Calculate royalties for other big retailers, such as Apple, Google, Kobo, Barnes & Noble, and others.
- Add as many team members as you want per title.
- You can also split royalties between non-author contributors, like illustrators and editors.
- Generate detailed reports for your team. Contributors can only see their share of royalties.
- Manage publishing contracts, so you never forget about the expiration of the contracts anymore.
What's the Difference Between Team Royalties and Abacus?
While Team Royalties and PD Abacus both streamline the co-author royalty split process, there are some key differences:
- This is a premium feature that requires distribution through PublishDrive and sends out separate royalty payments (for ebooks) to your entire team of co-authors or contributors every month.
- With Team Royalties, your team can also view royalty reports.
- The feature is priced per author per month.
- This feature does not require distribution through PublishDrive.
- It calculates co-author royalties for books (ebooks, print-on-demand, and audiobooks) published directly at Amazon and other retailers.
- Generates royalty calculations and reports for your team based on sales data imported by the user. Additional data can be manually added as well.
- This royalty split service is priced per title.
- You can also buy it as an extension to your distribution services with PublishDrive.
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."
If you've been seeking a more streamlined way to split co-author royalties, then you'll love this feature.
Sign up for PublishDrive today to try out an easy co-author collaboration agreement when it comes to splitting royalties.
If you're already a PublishDrive user, you can access the feature in My Account > Team Royalties.