MurielSnark
VIP Member
Yes, except that they were only taking contributions on spec so they wouldn't have paid any contributors unless they'd committed to including them in the anthology. That was the bit I objected to.Yeah, I do wonder how much slack they had… but then I think quite a few people also backed out so perhaps it was largely eaten up by that plus the need for more work from unbound and this is the ultimate consequence. Either that or RSM overestimated how much money she had to offer and £250 was never going to be possible for more than a handful of writers.
I've done a little dive onto the site and looked at some numbers.
The project is already funded 115%. Unbound states that any amounts pledged over 100% will be split between the author and publisher -- not clear how that would work for an anthology.
Anyway, here's how much they've earned already from the different tiers of pledges:
- Pay it forward (2 hard copies): 132 @£33 = £4356
- Digital only: 109 @£10 = £1090
- Paperback copy: 427 @£15 = £6405
- Signed copy: 99 @£25 = £2475
- Read with a friend (2 copies; one address): 26 @£28 = £728
- Send one to your MP: 45 @£28 = £1260
- Signed book + mug: 12 @£35 = £420
- Signed book + Tote bag: 7 @£55 = £385
- Signed book + art print: 1 @£60 = £60
- Book club (5 copies): 3 @£70 = £210
- Book club gold (5 copies + author chat): 6 @£120 = £720
Not bad going.
I estimate an anthology like this would be around 70,000 words. That works out at around 25 essays / chapters of around 2,500 words each, plus intro, index, acknowledgements etc.
So 25 contributors @£250 = £6260
That leaves roughly £12k for editing, proofing, typesetting, cover design, printing and marketing.
So basically Unbound is using crowdfunding to get the punters to share all the upfront costs of a book production, thereby limiting the risk that the publisher would normally take on a book. And they get the author to do a lot of marketing on social media which further reduces their spend.
I'm too tired to calculate the costs of each step of the production process but my gut tells me they're barely in profit but it's not looking too bad. This is all before they start selling the book commercially. (Whether or not any bookshop punters would actually buy a collection of poverty stories is another question but ....)
Anyway, I might have made some mistakes above but just thought it was interesting to look under the surface a bit.