A question that I often hear when I’m speaking about self-publishing deals with how to handle royalties when two or more authors collaborate on projects.
Until now, my answer has been:
Choose one person (or entity) to receive the payments and distribute funds to the other author(s). Detail the process carefully in your written agreement. Include issues such as:
- When and how the person receiving the payments from the sales platforms shares statements with the other author(s)
- How much time after receiving the payment from the sales platform does the designated person have to pay the other author(s) and how will that payment be made
- How tax reporting will be handled
- What happens if one of the authors dies
I can now add: Publish on Draft2Digital.
I have been publishing on Draft2Digital for years and recommend this platform. It’s easy to use, the support is excellent, the company is innovative and regularly enhances their services, and they genuinely care about being an excellent resource for authors.
Draft2Digital has just announced D2D Payment Splitting.
From D2D’s announcement:
This new tool allows authors and contributors to collaborate on projects without having to worry about managing the royalties. D2D has baked in peak simplicity to this powerful tool, assisting authors in everything from the tax interview to managing percentages for splits on any of your works.
D2D Payment Splitting gives copyright owners the ability to co-publish works and control the percentages owned by each participant.
Go here to read the complete details on the D2D website.
I expect it won’t be long before Amazon and other online publishing platforms add similar features.