4 Comments

The financial reality of writing, with Eric Wilson

Editor’s Note: Our special guest this month is none other than the awesome Eric Wilson, author of the novelizations of both Fireproof and Facing the Giants. This month we’re doing something a little different. The article below was not written specifically for NAF, but was originally published on Eric’s website. But it was not a part of a blog and was on a static page instead. So it was subject to be removed. We asked permission to reprint the article, to preserve it and give it a unique permalink. A huge thanks to Eric for allowing us to do this.

This is an awesome article about the financial reality of being a full-time writer. And this guy made it. He’s a rock-star writer. Most of us will never be as successful as Eric. This is why I tell young people who want to write, to NEVER expect this to become a future full-time job…but only a hobby. Expect writing to be a bi-vocational activity at best.

If you’re an aspiring writer, a struggling writer trying to get a contract, or a newly published writer wondering why your gravy-boat hasn’t come in…this article is a must read. And after you read it, pass it on to any aspiring writer you know.

GETTING RICH QUICK AS A NOVELIST

An Inside Look at the Financial Realities

By Eric Wilson

We’ve all heard about authors paid million-dollar advances. We’ve seen the debut book that sells millions and attracts a huge movie deal. Such stories make the headlines precisely because they are so uncommon.

In recent years, I released a vampire trilogy (a biblically-based tale of spiritual warfare), and certain people accused me of selling out for money, “fleecing the sheep,” and cashing in on the vampire craze generated by Twilight—although I started pitching my own series in 2005 before I’d ever heard of Stephenie Meyer. I’m not concerned with unbiased accusations. I am, however, intent on helping new authors as they step into the fray. A decade ago, as a budding novelist myself, I would’ve loved an honest representation of how the finances worked. So here goes…

I signed my first fiction contract in 2002. I committed to writing two novels for the publisher, Dark to Mortal Eyes and Expiration Date. My advance was $12,500 per book, with 15% going to my agent and another 20% going to Uncle Sam—meaning, I brought home around $9,000 per book. Of course, I received only half up front, the other half upon publication. So I planted my butt in my chair and started writing. I turned in book one and book two. They hit the shelves in ’04 and ’05. They never sold enough to earn back my advance, and so the publisher had no obligation to ever pay me a dime in royalties. In the meantime, a film company optioned my second novel for a movie, paying $500 for that right. No screenplay was ever approved by investors, no movie was made, and my publisher kept the $500 toward the money still unearned on my advance.

I signed my second contract in 2004. Same terms. Same basic advance. Same results. The Best of Evil and A Shred of Truth came out in ’06 and ’07, and neither book earned me a cent in royalties.

Yep, you guessed it. My next three novels, Field of Blood, Haunt of Jackals, and Valley of Bones, all sold to a different publisher for the same advances I had earned on my earlier books. I pushed for more, I really did. But my agent said I had little bargaining power, based on my previous sales. Those books came out in ’08, ’09, and ’10. Slightly better sales, but still nothing close to earning any royalties.

In between publishing my own novels, I had the opportunity to write three novelizations based on original screenplays for the movies Flywheel, Facing the Giants, and Fireproof. Each book sold in accordance with the success of its matching film, and the third book earned good royalties—a first for me! It hit the lower end of the NY Times bestseller list, in the trade paperback category, and stayed there for 14 weeks. Many of my friends and family thought I must be set for life. I have to admit, I wondered how lucrative these types of sales numbers would be.

The reality? With ten books published, I have brought home $180,000 since 2002. That’s $22,500 a year, after taxes and agents. Personally, I believe in tithing on my income, so that came out of there too. I’m not complaining about the published books, or the bestseller, or the approximate $160,000 earned. No sir! But I could’ve made that amount of money in four years instead of eight if I’d stayed at my job back in 1996. And, my family would’ve had health insurance. And 401(k). Unfortunately, those are not things publishers are in a position to offer, and most contracted writers and musicians have limited ability to obtain them.

I will never regret the road I’ve chosen. My wife has walked hand-in-hand with me on this journey, and we have seen provision in unexpected, often last-minute, ways. It’s a struggle some days, a joy many others, and yet I have the satisfaction of pursuing what God has put in my heart.

If you want to write, be aware of the financial realities. If you’re married, be sure you are committed to this path as a couple. Then, I say, do it with all your heart, soul, and mind. Do it so as unto the Lord. As followers of Jesus, as those who want to honor God through our work, we find life’s truest riches on the path that leads to Him.


About Eric

From an early age, Eric wanted to be a writer. Although he was born in California and raised in Oregon, his more enduring memories start in Europe where his parents took Bibles behind the Iron Curtain. Life was an adventure, full of exotic cultures and peoples.

Back in the States, he went through junior high and high school. He loved soccer, basketball, chess…oh, yes, and girls. It took a few years to learn how to talk to them, but they interested him from a distance. After high school, he traveled in eastern Europe and China. He returned to his parents’ crumbling marriage, then moved to LA and began college.

During his junior year, a childhood friend showed up as a freshman. Within months she and he were married, and they are now in their twentieth year, with two daughters. They are not perfect, but they refuse to stop fighting for their family…and for their faith in Jesus, who is bigger than any self-centeredness.

Connect with him online at:

Advertisements

About Keven Newsome

Keven Newsome is a child of God, husband, father, and friend, in that order. He’s also a novelist, musician, and sometimes artist. He has an MA in Theology, specializing in supernatural theology, from the New Orleans Baptist Theological Seminary. His debut novel Winter was a finalist for the Compton Crook Awards and the Grace Awards. His other works include Prophetess, the sequel to Winter; three contributing stories in the Aquasynthesis anthology; and a contributing micro-story in the Avenir Eclectia anthology. Keven is the founder of The New Authors’ Fellowship and produces music and video through Newsome Creative.

4 comments on “The financial reality of writing, with Eric Wilson

  1. Excellent advice, Eric. Thank you for allowing us to share your thoughts here at NAF. We all need to be honest with each other and ourselves. 😀

  2. Thanks for sharing this – it’s really good advice. A year or so ago I found another really good post of tips on money specifically to writers. http://whatever.scalzi.com/2008/02/11/unasked-for-advice-to-writers-about-money/ The writer has an attitude (which I found entertaining to read) but the tips are excellent. The first one is “Prepare to be broke”. He talks about difficulties of getting paid and using your time wisely.

    Sadly, I do see many starry-eyed aspiring writers dreaming of the day they can quit their day job and write fulltime … with little concept of how most writers (even full-time, well-known writers) manage to get by.

  3. Thanks for the peek inside, Eric. Always good to know what the real deal is.

  4. Good thing I never planned to quit my day job. 😉

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: