Blogger: Wendy Lawton
Publishers Marketplace is an information-packed site where agents or publishers can report deals, check to see who represents a certain author, follow manuscript buying trends, or find contact information. It’s a fee-based service of Publishers Lunch, the free, one-stop daily which provides up-to-the-minute information on all things publishing. Many agents report every deal to Publishers Marketplace, naming the author, the acquiring editor, the book title, a blurb about the book and the price range of the sale.
I used to faithfully report my sales to Publishers Marketplace but my last reported deal was in 2008. Let me explain why I no longer post.
- TMI— I’m a private person at heart. I’ve been in the business world for almost 35 years and I can’t help myself— I’m uncomfortable about sharing proprietary information. Especially the specifics about how much money changed hands over a deal. A few years back we were visiting with fellow agents at a writers conference when one of the agents laughed and said, “I know exactly how much every agent makes. I study Publishers Marketplace.” Our whole group stood there speechless, gobsmacked by that comment. It reaffirmed my decision. That agent, who was so sure of her method, couldn’t possibly have known how many agents only posted a portion of their sales or the exact size of each deal but it made everyone feel exposed somehow.
- Spy vs. Spy— Much of the information shared is actually proprietary to the publishing house. Anyone can see what a publishing company has in their pipeline. When an agent posts a deal that signals a whole new direction for a publishing house, that agent is alerting all the other houses to this new possibility. I spoke with one publisher who did not like their deals reported. Of course there is no consensus among publishers since other houses and editors sometimes post deals themselves.
- It’s a Dog Eat Dog World— There are also dangers for authors who may have bright new ideas that won’t come out for a couple years. An unscrupulous author or publisher could easily beat them to the punch.
- Entering the Danger Zone— Touting our sales can be dangerous for the soul. Sometimes you’ll see an agent claim that he or she is “number one in inspirational fiction sales” or that he or she “logs more sales than any other agent.” Those statements are loosely based on the data from Publishers Marketplace. I found when I was reporting deals I became uber-competitive as I hit all kinds of milestones and #1 spots. I found myself checking on stats way too often and comparing myself to others. One day I was brought up short by a verse in the Bible, “Make a careful exploration of who you are and the work you have been given, and then sink yourself into that. Don’t be impressed with yourself. Don’t compare yourself with others. Each of you must take responsibility for doing the creative best you can with your own life.” Galatians 6:4-5 (MSG) Don’t be impressed. Don’t compare. *GULP* I have a number of six-figure deals and even some seven-figure deals. I can’t tell you how tempted I am to trumpet those sales. But just the fact that I long to point to my big sales and am never tempted to share my failures clues me in to the danger inherent in this practice.
- Missing the Goalpost— Our goal as a literary agent is to build careers. If I wanted to have more reported sales than any other agent I could sell tons of projects to small presses or indie houses and report those as deals. Those are indeed legitimate deals but the sales numbers the authors will garner on those mini-deals can become career-killers. I’ve been called to keep my eyes on my clients’ careers and off my own. I need to make the right sales not the most sales.
I could go on and on. There are definite pluses to posting deals publicly but, for me, the downside outweighs the upside. What about you? Do you pay attention to this kind of information? When choosing an agent do you go to Publisher’s Marketplace to do research? Would you be more likely to sign with an agent who touts “measurable” dealmaking success?
TWEETABLES:
A literary agent explains: “Why I Don’t Sell and Tell.” Click to Tweet
The downside to reporting book deals to Publishers Marketplace. Click to Tweet
I’ve never heard of PM before reading your article Wendy. It sure opens my eyes to the “dog-eat-dog” world of publishing. It confirms all that I appreciate about the CBA and why I feel so comfortable among these circles. I wouldn’t look to PM to shop an agent. For me, it’s always about the relationship, and the mission. Of course the bottom line is important, but it’s not the driving force that justifies ill-gotten gains.
I was using “dog-eat-dog” world sort of tongue in cheek. Happily, in the CBA there are very few cases of piracy or idea-stealing. It’s just that if you saw a fabulous idea on PM it could begin to spark other ideas that will directly compete with the concept posted. Kind of a zeitgeist launcher.
One of my life’s greatest privileges has been studying business at my Dad’s knee.
I spent last weekend with him, as my son—”the boy,” in Dad parlance—graduated at the top of his law-school class. Who do you think my son sought as he paraded in and out of the auditorium in robes signifying an honors graduate? He stopped the line each time to shake my dad’s blue-veined hand. At 85, Dad remains a guiding force.
One of Dad’s lessons was about Dun & Bradstreet. Long after the man founding my father’s company died, D&B still reported him as owning the company. “Back in the day,” D&B, and their ratings, were big deals. I finally asked Dad why he let the record stand incorrectly. His response was, “if you tell everybody everything you know, they have you at a disavantage. They STILL know what they know, and they NOW know what you know, too.”
For Dad, a man of few words, that was a mouthful. For me, it became a guiding business principle.
As a signed author with Books&Such, I thank you for keeping your mouth shut. NLBH
Norma, I love your dad’s words! Such wisdom!
Thank you. I adore him. Best dad a woman could have. (And a pretty fine grandpa, too.)
Congratulations on your son! And how blessed you are to have your dad’s wisdom undergirding you.
I subscribe to Publishers Lunch and marvel at all the information I’m clueless about. As an attention addict, I always thought it would be kind of cool to see my name in there. Now I understand the significant downside! I’m so glad to have an agent who knows this stuff for me.
I hear you about being an attention addict. You can imagine what a temptation it is for an agent to see her name next to fabulous deals week after week. It is so hard to separate valid marketing from plain-old pride. Who knows if we have it right?
Because Publishers Marketplace is only read by colleagues and industry folk I can’t see the marketing benefit, except perhaps in rights inquiries but those rarely come to fruition from initial interest in a one-sentence blurb. (Rights are best sold the old fashioned way.)
Sarah, I’m having a very hard time picturing you as an attention addict! Now, certain people you may meet in Indy often carry the flag for Canada at the Attention Games.
Only to divert attention from themselves, I suspect. You and I are going to temper each other nicely!
I agree! We’re gonna do just fine.
And I’ll happily walk ahead of you, tossing rose petals. “Make way, for Sarah!”
Thank you, Wendy, for this interesting and informative post. I’ve looked at Publishers Marketplace a few times because there is a YA agent whom I interested in querying and she uses it. In all honesty, all of the reporting of deals seem (there and on some agent Twitter sites) struck me as somewhere between marketing and bragging, but I just accepted that as part of the current publishing world. It seemed to be Standard Operating Procedure. In your post, you bring up some issues that are more concerning (giving away too much information about a publishing house or writing about an author’s idea so soon that someone else can steal it). I appreciate how you reflected on the practice and came to some solid reasons why, though it’s common practice, it is not a best practice. I especially appreciate your position that you don’t want to make numerous “mini-deals” for your own career or to win the who-can-make-the-most-deals-this-year award. “I’ve been called to keep my eyes on my clients’ careers and not my own. I need to make the right sales, not the most sales.” God bless you! That is why you are a super agent and why anyone who is represented by you is blessed. 🙂 Thank you for your moral courage.
Thanks for these words, Christine. Sometimes we over-think things but every decision has consequences and we do our best to consider the benefit and risk.
Like Anne, I had never heard of PM before your post. I can see how it would be challenging to keep a godly perspective if an agent/publisher is seeking affirmation through reporting sales at PM. As a recovering affirmation-seeker, the temptation to find validation there would be great.
In answer to your question, no I wouldn’t seek an agent solely through PM, now that I know about it. Relationship, integrity and knowing that any agent I partner with is looking at the best for my long term career is far more important than the sales an agent reports on PM. This is a relationship that requires far more than an agent who sells a lot (as you mentioned, some sales may not be in the author’s best interest). Anyway,I’m rambling now, so I’ll stop. 🙂 Thanks for this post, Wendy. It was very enlightening.
Good points, especially since selling your project is only a small fraction of what we do as agents. It is by no means the biggest part of our job.
Ohhh, this was a lesson of so many different concepts!
One thing I sort of kinda know a bit about is the extremely competitive world of scientific publication. There is a three inch stack of scientific papers across from me that my hubby has been reviewing. So when people say, “why does it take an agent so long to get to my submission?” I completely understand.
Be thankful you don’t have to read papers that use the words “epigenetic” complexity”.
When I started sending samples of my writing to people, Hubs went thermal! He was truly angry with me, which is very rare. It took him a solid year before he accepted that academic and intellectual theft was not the problem in my world that it was in his.
Each of the categories you have is an open door to self destructive behaviour. Whenever we have or seek out information that is equated with shifting the balance of power, we become a pawn in a game beyond the realm of what is Biblical.
I want an agent I can trust, who isn’t aiming to become a kingmaker. An agent with a great business sense? Yes, of course! This IS a business. But not an agent for whom I am just another deal.
You’ve identified two very different models of agenting– the dealmaker and the career builder. I’m glad you are mindful of the big picture.
I think it is interesting to see things from your POV, Wendy. So often, I think about the competitive side of writing–but I never really stopped to think about the competitive side of agenting! It makes sense, though. People are people, no matter what career, and we all tend to struggle with comparison. It seems very wise of you to consider that about yourself and back off where you need to. I know I’ve struggled with comparing myself to other writers and doing this thing for the right reasons…not to glorify myself, but the Lord.
If we could honestly leave comparisons behind I think we could move forward in our own career with so much more energy. It’s the tough lesson we learned as parents– not to compare our children with other children. Each of us is richly equipped for his own journey and our journey as writers won’t look like anyone else’s journey. Good words, Lindsay!
I’ve heard of PM, but I never thought of the concerns you shared on reporting deals. They all make sense. Yes, it’s appealing to have your deal reported for the publishing world to see–there goes that pride again!–but I can see how it’s wiser and best personally to keep that info quiet.
Thanks for sharing the other side of the issue, Wendy.
I think we need to think more about how you will strategically post the great news of your first contract. PM only goes to the industry– you are going to announce to your writing peers, your friends, all the people you know, your Christmas letter list and all the old boyfriends/girlfriends who are going to kick themselves they ever let you go. 🙂
Once you are contracted their are going to be many “first” opportunities you’ll want to exploit– that’s just good marketing.
When you look at it from that angle–marketing which is part of doing business–it makes sense to announce it strategically. How fun. 🙂
Love your comment about old boyfriends.
Jenni, that’s my theory as to why so many women writers use maiden names as well as married names. 😉
Wendy, I love your thoughts on this issue. Makes me respect you even more!
*Blush*
Since I remain a very private person at heart, I really appreciate this post. Also, the Scripture you mention is a favorite of mine. Love your wise, humble spirit, Wendy.
Isn’t that portion of scripture in The Message wonderful? I love that it begins with “Live creatively, friends.” That’s how I long to live and I’m so glad I get to hang with creative people every day.
BTW, Laura, I just preordered your newest yesterday. It’s not even out and your Amazon numbers were impressive. It sounds wonderful. (Romeo and Juliet-ish?) Can’t wait for September 15th.
I so appreciate you, Wendy. Thanks very much for the pre-order!
Thank you for sharing your heart in all of this, Wendy. I feel like the past year has been a similar journey for me, of my own dross being stripped away as far as my purposes for writing, my tendencies for striving… and the motives behind it. Thank you once again for wisdom, sweet and treasured wisdom.
Hi Amanda, I was struck by your “dross” comment.
I’ve had a similar experience this last year with dross being stripped away. But oddly enough, it hasn’t been too negative an experience.
I feel like God has lit an inner fire so that what garbage I picked up along the way to cover myself for protection can be burnt away from the inside out.
For decades I’ve felt a dark voice whispering “you just aren’t much of anything, are you?”
One thing writing does for the writer is help purge the dross, it helps us put on paper the many “and here’s what I think of THAT, and that and that!”
After a solid year and a half of being able to put to pen what has been simmering, I feel like so much of the proverbial dross is burnt on an altar and is now just a pile of ashes. I can honestly say I’ve enjoyed being able to sweep my arm across that altar to make room for offerings of thanksgiving and praise. The altar is a place of freshness and joy. Each word I type, I lay out for His glory. Each thought that comes from Him, I give back and ask for His blessing.
When the dross and weight is gone, there is room for something new and far more beautiful.
Love this comment, Jennifer. When dross is burned away the precious metal appears.
Jennifer, this comment was just beautiful, and so echoes the cry of my heart: “I’ve enjoyed being able to sweep my arm across that altar to make room for offerings of thanksgiving and praise. The altar is a place of freshness and joy. Each word I type, I lay out for His glory.” Thanks for sharing that!
Great insight, Jennifer. I love that you’ve identified all that burned matter (dross) as an offering to lay on the altar. YES!
Thank you, all, very much.
If only people knew that when you decide to pursue publication you’re really consigning yourself to the refiner’s fire.
You don’t need to lose any of that striving, Amanda. That “fire in your belly” comes from pursuing God’s call.
Thank you, Wendy. I think what I’ve needed to learn has been the difference between striving to follow that calling, and striving to succeed in the eyes of men. The latter has a way of running my soul dry; the former gushes life back into it and reminds me of the true purpose in all of this. It’s a beautiful purpose, when He lays it before us– and an honor to pursue!
Amanda, I appreciate your vulnerability in sharing this, and I appreciate you. 🙂
Thank you for your encouragement, Jenni! I appreciate you! 🙂
Like many others, I hadn’t heard of PM before. I’m glad you wrote this article, Wendy. It definitely opens the eyes. I see someone mentioned Dunn & Bradstreet, too. One of my bosses refused to report to them for similar reasons. I guess it’s something I never really thought about, but I’m glad you and others do. Since I’m looking for a long-term business relationship with an agent who I feel comfortable with, numbers aren’t a big deal to me. Yes, I want someone who has a proven track record, but I don’t want someone more concerned with reporting her successes than helping me reach my goals.
The good thing is, when it comes to choosing an agent you’ll have the opportunity to talk at length with him or her. That’s when the agent will give you his stats, tell how many books he’s sold in the last year, which publishers he’s sold to (important info) and you’ll ask for a list of clients you can contact for reference. Due diligence time.
I want an agent who is successful but I also want an agent who will work with well with me and will be the best agent for my book and for my outside-of-technical writing career. I believe a relationship should be a win/win for both the agent and the author.
Absolutely. And I like that you’re thinking of the two divisions of your writing career– the tech writing (which requires no agent) and the writing for publication.
Wendy, I had not heard of PM before. Initially, I was shocked that such private information would become so public. When I was a girl and beginning to understand adult salaries and how far money would go, I asked my parents how much they made. They told me, but with the specific direction that I was not to tell anyone else. That was private family information. Now, as a parent, that’s the same instruction I give my children when they ask the same question.
As I continued to read, though, what respect flooded me for the Books & Such team and other agents with similar faith! I applaud your guarding of your soul. (And the guarding of your clients’ souls in the process.) I definitely would pay attention to this type of information in choosing an agent, preferring the one who keeps her cards close to the vest. (Hmm…mix of faith and gambling in this comment. Well, that happens when faith grows in adulthood but the Kenny Rogers songs of youth still haunt. 🙂 )
I would rather have an agent who remains a mystery to the outer fringes than one who is known to sing everyone’s private matters.
And guess what song is in my head?
There’s a lot of wisdom in that song!!
Thanks, Meghan. An understanding of what needs to stay private is so important. I’m always amazed at how freely some writers share confidential information, sometimes in blatant breech of contract.
Writing is a career that requires not only good business etiquette, just as any other corporate career, but also a well-developed sense of appropriateness.
I’m impressed that you are working to teach your children a sense of propriety. Sometimes it feels like a lost trait.
Thank you for this informative post, Wendy. I’ve always felt uneasy in my gut about those reported figures, and now I have a clearer understanding of why. I’m also copying down that Galatians verse to tattoo across my forehead–I mean, pin above my computer.
It wouldn’t be a bad choice to have emblazoned on our psyche (if not tattooed on our flesh) 🙂
I think it really depends on how much information is given on an agency website, actually, on whether or not the PM information is helpful to me.
When I look at say, sales in the last 12 months, I am not looking much at what the book is about or the $, but the genre and who it’s being sold to. For example, I might find agents who are looking for women’s fiction, but all of their sales indicate romance imprints, which tells me what the agent may or may not be having the most luck with and maybe what the lean of that agent’s interest in women’s fiction is. Or maybe most of the sales are going to small presses vs those that might be better known to me (and not even necessarily “big” names).
It’s not my primary indicator of an agent I’d like to work with, but it still a factor when compiling my notes. Your agency has a page that gives news of deals or other related author news, which can supersede the need/desire to check it all out on PM.
Good input, Janet. That’s exactly how Publishers Marketplace should be used.
I use it as well to track which editors are buying what. I know, it’s probably hypocritical to use the information freely shared by others and withhold my own but . . . well. . . that’s what I pay a monthly fee for. :-\
It’s good to be competitive to get your clients the best deals you can. But it’s not good when we start comparing ourselves to others. Our best isn’t someone else’s and vice versa. So thankful you shared your insight, Wendy!
Blessings,
Andrea
Happily it doesn’t require being competitive to get our clients the best deal. Once we’re working on deal points with a publishing house it’s just a transaction between two parties.
That’s good to know. I’m glad to be learning more about the agents’ side of writing. Thanks, Wendy!
Wendy,
I deeply appreciate your integrity, because I believe, in essence, THAT is what you’ve shared with us today. Thank you for standing on your very SOUND principles.
Grace and peace to you.
Becky
Thanks, Becky. This is just my take on this. Many fellow agents (with integrity) post their deals– several friends of mine– and they’ll argue that it is all part of being a sharing community.
Each of us marches to a different drummer.
Thank you for the informative PM breakdown, Wendy. You posts are helpful to me as I learn the broad scope of the publishing market. And there is much to learn in a daily changing industry.
I trust your instinct and earned wisdom as I know you seek the Lord in all your work as an agent and His servant.
This has been a stretching year for me facing fears and being more visible than I choose. I’d rather tend my rose bushes when on a break from writing, or go for a lap swim.
One thing I have learned from your example Wendy is to search the scriptures when in doubt and to be a good communicator. That means I listen for that still small voice first and foremost.
Listening is many a time more productive than speaking. And it is humbling.
It definitely is a complicated industry. I am impressed by the writers who work so hard at learning the ins and outs. The savvy definitely shows.
As a writer, I find the consolidation of power and information in the hands of anyone but potential writers / clients to be both frustrating and destructive for the industry.
Frustrating, because for as much as industry professionals always refer to things as “partnerships”, even with ongoing changes to the status quo, it still is an extremely lopsided “partnership.”
Destructive, for if we as writers seek to make the wisest choices for our careers, yet agents and publishers simply do not provide the information which factors into such choices, then the allure of self-publishing might seem like the best choice for many authors.
Are we merely to take agents and publishers at their word?
I certainly do not see writers being treated similarly:
“Oh sure, sign me, the book will sell millions! What, you what data that shows how I know that? Sorry, that’s proprietary.”
Good point, Larry, but if you were considering accepting an offer of representation from me, I’d answer all your questions– how many sales I’ve made. Which editors I’ve worked with. What houses I’ve sold to. How we come up with a good advance figure for you, etc.
It’s the public sharing that makes me squeamish. Besides there is no way to really compare agents, even if you are using something like Publisher’s Marketplace. Usually apples to oranges.
As for the consolidation of “power,” it’s the same in every industry. The buyer never tips his hand to the seller. Doesn’t matter what the product is. But that’s pre-relationship. It becomes a partnership once the relationship begins.
Ask any of my clients. Before we’ve signed the representation agreement it’s more of a buyer-seller thing (sometimes power with the writer, sometimes power with the agent–depending on how big the career) but once we are working together it is definitely partnership, often deep friendship as well. It’s the same with publishers.
Indeed, and I certainly agree that sharing those things publicly can be quite daunting, though I view it from the perspective of potential authors looking to start that partnership to begin with: if there isn’t much data to make a “first impression” with, it doesn’t seem that there is much reason for an author to pursue a partnership when they don’t know much about the person they are getting into a partnership with.
Regarding other entertainment industries, there generally are trade magazines / websites / blogs where the equivalent information being discussed today can be found; even videogames, of all things, have this. (Indeed, I would offer that the business side of that particular industry is more interesting than the products themselves!)
And those here in the community who are also clients help show the difference between the Books and Such crew and other agencies: even the work and engagement with the community here itself goes to show that. Generally speaking, when I’m talking about the vagaries of agents and industry professionals, the Books and Such crew are excluded. 🙂
Larry, thank you for your kind words.
Thanks Wendy.
I’m going to share (Galatians 6:4-5) with some other writers today.
I never realized it was such a “bunny eat bunny” world out there. ha ha
You mention Bunny Eat Bunny World. That’s the title of one of the best books on writing for the children’s market. Love it.
I appreciate the scripture you shared and take it to heart.
Your TMI comment made me think about the care we need to take in how we portray ourselves to possible readers. Also, discretion in interactions we may have with industry professionals prior to publication.
I’ve not used PM to research agents. When possible, I would like to meet an agent in person at a conference. In that situation, I can hear their heart and their preferences while observing the possibility of a future kindred spirit connection. 🙂
And when you meet an agent at a conference you can see how they move through the industry, how they treat others and how they are viewed by their peers. Lots of unspoken information.
Thanks, Wendy. That is a real eye-opener.
I’ve heard of PM but would not look there for an agent. I kept looking at the names of agents on Christian novels somewhat similar to what I’m working on. I finally discovered your agency when studying the Write to Publish conference ad, even though I couldn’t afford to go at that time. I’ve been mostly lurking here since.
I so much appreciate your attitude about this and the stand you have taken. Too many Christians just follow standard practices without ever evaluating them. I am now more sold on your agency than ever.
Elaine, you’ve hit on a great technique for identifying an agent who may be a perfect fit– read the acknowledgements in books similar to your own. I do the same thing when searching outside of my “rolodex” of editors. I find similar books on the shelves of the bookstore and see who the acquiring editor is.
(Special thanks to all you authors who thank your agents and editors in your acknowledgements.) 😉
I discovered one of your clients recently by reading the acknowledgements section of her book. It’s neat to see the extensive team of people who come alongside a successful author.
Welcome to the community Elaine! Others who want to engage with folks here and join the discussion, remember that the pool closes at dusk, and Jennifer has delicious Canadian chocolates available upon request. 🙂
Thanks, Larry. It seems like a fantastic group. (Too bad I can’t eat chocolates. 🙁 )
God didn’t make us to be successful, did He? He made us to be Holy. (Oh, BTW, how does one go about getting their photo in these comments?)
I think we use a site called gravatar.com, Michael. I hope that works for you!
Yes, gravatar.com is the way to go.
If I looked at such things, I might conclude that an agent who closed lots of deals was too busy to take on another client!
Interesting observation. Actually though clients who get tucked into multi-book contracts take far less time than not-yet-sold clients or career-in-crisis clients.
It’s VERY interesting to hear an agent’s approach on PM listings.Thank you for this post, Wendy!
When authors share their six/seven figure deals, I always thought about how other people interpret their earnings. Somehow, I think a lot of the general public (esp non-writers) automatically assume they are rich. Not so sure if that is a good idea to share publicly.There’s plenty of stalkers out there. Though a big deal like that is exciting and deserves to be shared everywhere.
The other thing that always crosses my mind is sharing about future books before they are in print. In this day and age any person can self-pub anything their heart desires and pretty much take other people’s ideas and twist them. That has always crossed my mind. Same thing with titles. Titles are not copyrightable. I’m glad you touched base on that.
And WOW!!! What a GREAT scripture!! Thank you for sharing!!!
The funny thing is, those big deals are usually spread out over several books and though they may mean a good income, they don’t necessarily equate to riches for an author.
Wendy, this blog post was the first thing I read early this morning. It’s now nearly dinner time and I’ve finally had breathing space to come back and say THANK YOU. What a needful thing for me to read was this…
“Make a careful exploration of who you are and the work you have been given, and then sink yourself into that. Don’t be impressed with yourself. Don’t compare yourself with others. Each of you must take responsibility for doing the creative best you can with your own life.” Galatians 6:4-5 (MSG) Don’t be impressed. Don’t compare.”
… on the very day my debut novel releases. Thank you so much. God spoke through you to me.
I hope today was what Lewis Carroll would have called a white stone day– one of those never-to-be-forgotten days. I can’t wait until people read Burning Sky. It is a treasure of a book. Congratulations, Lori!
Thank you, Wendy for this interesting perspective. I’ve always felt information between authors, agents, and publishing houses is private to those parties. Thank you for not making your deals public to everyone.
I can tell, Wanda, you have that same sense of privacy I have. I know it bothers many who feel that we all ought to share freely but there’s a trust issue here, isn’t there?
That’s a great Scripture verse, Wendy. I’m writing it down in my keeper journal. It’s sometimes hard to quell that competitive spirit, but his verse speaks to the heart as I attempt to do my creative best. Your posts here are always enlightening and often inspiring. I love reading the comments too.