Going rates
What is realistic, not what is tweeted
Royalty percentages have been remarkably stubborn. Advances have not. The figures below are ranges seen on UK and US trade deals in the mid-2020s, not promises, and not the six-figure outliers that distort every article about ‘the industry’.
Royalties, by format
‘Good’ here means available in a competitive agented deal, not a fantasy. Small presses that pay 50% of net with no advance sit outside this table on purpose — see the sample licence.
| Format | Typical | Good | Poor |
|---|---|---|---|
| Hardcover (RRP) | 10% / 12.5% / 15% (3–5k, then 10k) | Same, with lower thresholds (2k / 5k) | Flat 7.5–10%, or net receipts |
| Trade paperback (RRP) | 7.5%, rising to 10% after 10–15k | 8–10% from copy one | 5–7.5% of net |
| Mass-market paperback | 6–8% of RRP | 8–10% | Net receipts only |
| Ebook | 25% of net receipts | 25–30% net, or 50% at a small press | 15–20% net, or ‘electronic’ lumped in at print rates of net |
| Publisher-produced audio | 10–15% of net (UK), 25% of net (US) | 25% of net, with a production deadline | 5–10% net, or exclusive audio with no obligation to produce |
| Sublicensed audio | 50% of proceeds | 60–80% | 50% to a sister company treated as ‘third party’ |
| Translation (publisher-sold) | 75–80% to author if agented; 50% unagented opening | 80%, unsold languages revert in 18–24 months | 50% in perpetuity |
| US rights (from a UK grant) | 80% of proceeds | 80–85%, or reserved | 50–70% |
| First serial | 75–90% to author | 90%, or reserved to the agent | 50% |
| Film / TV / dramatic | 90% to author if the publisher has them at all | Reserved entirely | 50%, with publisher approval of deals |
| High-discount print | 10% of net, or 5–7.5% of RRP, above ~50–55% discount | Threshold at 55%+, with a floor | Any sale over 40% discount, no floor |
- Hardcover (RRP). The escalator is the tradition. Defend list/RRP as the base.
- Trade paperback (RRP). Where most midlist copies actually sell.
- Mass-market paperback. Less common than it was; still used for some commercial titles.
- Ebook. The 25% figure has been stuck since the Kindle era. Clean definitions matter more than the headline on a Big Five deal.
- Publisher-produced audio. US in-house audio programmes tend to pay better than older UK boilerplate.
- Sublicensed audio. Related-party sublicences should be treated as publisher-produced.
- Translation (publisher-sold). Often better reserved and sold by the agent at the fairs.
- US rights (from a UK grant). A UK house without US distribution is a poor custodian of this right.
- First serial. A well-placed extract is publicity as much as income.
- Film / TV / dramatic. Book publishers are not film agents. Keep these.
- High-discount print. This is how supermarket and some online deals are paid. Uncapped, it eats the royalty clause.
Advances, by career stage
These are not offers. They are a sense of scale, so that a £6,000 debut is not mistaken for an insult, and a $15,000 ‘big deal’ is not mistaken for a lottery win.
| Stage | UK | US | Caveat |
|---|---|---|---|
| Debut, unagented small press | £0–3,000, or profit share | $0–5,000 | Editorial attention is the real consideration. Do not also give away world rights. |
| Debut, agented trade | £5,000–20,000 (many still £8–12k) | $10,000–50,000 (a $40k debut is a good one) | Averages are pulled up by auctions. The median is lower than the articles. |
| Midlist, following a modest first book | £8,000–40,000 | $15,000–75,000 | The second-book dip is real. Earn-out on book one is helpful; it is not required. |
| Established, with a sales record | £40,000+ | $100,000+ | Once you have a track, the advance is a negotiation about risk, not a gift. |
| Category romance / some series work | Often a smaller advance, faster schedule | Work-for-hire or modest advance + tight option | Read the option and the name-and-likeness clauses with particular care. |
A good deal is not only a number
A £20,000 advance on world rights, 50/50 translation, no reversion, and a matching option is a worse deal than £12,000 on UK volume with audio on a deadline and foreign reserved. The headline is what you will tell your friends. The grant is what you will live with.
If a house cannot distribute in a territory, they should not take it. If they will not produce audio, they should not lock it. If they will not spend money on marketing, they should not write ‘best endeavours’ as if it were a budget.
This is a practical guide, not legal advice. The sample contracts are composites drawn from typical UK and US trade terms in the mid-2020s, not copies of any one publisher’s agreement. Always have an agent or a publishing solicitor read a deal before you sign it.