Pynchon Earning Out

[Jim Gilbert]

Regarding Pynchon and his possible payment ... I'm in publishing, and while
I will be quick to admit I know nothing about Pynchon's contract for IV or
for any book, I will say this: Pearson currently handles 4 of 7 Pynchon
books. As has been stated, Pynchon sells primarily as a backlist author; I'm
sure the beancounters at Pearson are aware of this, and accord Mr. Pynchon
his advances accordingly.

But it's a backlist author that publishing houses WANT--a book that slowly
sells for years and decades is far better for the coffers than one that
makes a splash, however large, but then disappears.

I'm also willing to bet this: Melanie Jackson negotiates one book contracts
for Pynchon. Which is the smart thing to do. It's the start-up novelists
without established careers who most have to worry about earning out,
especially if they sign two-book deals--something that is becoming more and
more rare (usually a "two-book" deal is really a first refusal deal, these
days--because chances are right now, if you don't earn out at one place,
you're simply not going anywhere else, not without someone like Binky Urban
on your side).

Most book contracts also work according to delivery and sales levels, as
well. This is publishing's dirty secret. Example: I know someone who
received a "$100,000" book contract in 2004. The deal was for two novels.
Payments were split into segments paid out for signing; for delivery; for
publication; then for sales plateaus, only some of which were met (the first
novel *almost* earned out; the second novel was, in our parlance, a brick).
Meaning: the 100K agreement yielded my friend only about 35K, after agent
fees and taxes, over an 18 month period. I mean, that's not bad money, but
... don't quit your day job. (I make a better living as a salaried editor
than I would ever make as the novelist I'd rather be.)

All that to say: as far as the "earning out" of Pynchon's novels, I'm
willing to bet (jeez, but I'm turning into a betting man today) it isn't an
issue--that M. Jackson negotiates an "advance" fee (such as those given to
celebrity authors, the kinds of payments that get discussed in the media)
that is Pynchon's ipso-facto payment. It may or may not be against ultimate
royalties, which Pearson knows will eventually earn out, just probably not
right away; but that would depend on the contract. (Contracts for
established authors with core audiences are typically unusual--giving them
approval of design, for example.)

Anyway, that's my 25 cents.
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