Today's Read Contributor In January 2024, a bold new player entered the publishing world—Authors Equity, a company founded by former Penguin Random House CEO Madeline McIntosh. With its innovative, author-driven business model, Authors Equity aims to empower writers and shift the traditional balance of power in the publishing industry.
Unlike most traditional publishers, which provide advances upfront to authors in exchange for a share of the book’s earnings, Authors Equity has decided to forgo the advance model entirely. Instead, it offers authors a significantly higher percentage of profits—ranging from 60% to 70%—from their book sales. This arrangement allows authors to retain a much larger share of the financial success their books generate, creating a more favorable and transparent relationship between the author and the publisher.
Additionally, Authors Equity places a strong emphasis on creative control, allowing authors to select their own teams of editors, cover designers, and other key collaborators. This autonomy gives writers the freedom to craft their works in ways that align with their vision, rather than conforming to the preferences or limitations of a publisher’s in-house team. In this model, authors are not just the content creators but also the architects of their own publishing experience.
The company’s investor lineup includes some of the most successful names in the writing world. Bestselling authors such as James Clear, Tim Ferriss, and Louise Penny have backed Authors Equity, signaling a strong endorsement of the company’s mission and its potential to transform the publishing landscape. Their involvement brings credibility and resources to the fledgling company, suggesting that Authors Equity could become a major force in reshaping how books are published and sold.
Madeline McIntosh’s decision to launch Authors Equity marks a pivotal moment in her career, following her successful tenure at Penguin Random House. As the former CEO of one of the largest publishing houses in the world, McIntosh has a wealth of experience and insight into the publishing industry. Her vision for Authors Equity reflects a growing dissatisfaction with traditional publishing practices, which have often been criticized for their lack of author-centric models.
By prioritizing authors’ interests over traditional publishing norms, Authors Equity aims to provide writers with not only a higher share of profits but also a more personalized and flexible approach to publishing. This author-first model promises to disrupt the status quo, and the involvement of high-profile investors suggests that the new company is poised to make a significant impact in the literary world.
With its focus on financial fairness, creative autonomy, and strong industry support, Authors Equity is an exciting new option for authors seeking a more equitable and empowering publishing experience.
