American talk show host, author, and staunchly conservative political commentator Glenn Beck has signed a wide-ranging contract with Simon & Schuster that will allow him a greater share in the profits of his forthcoming titles, an arrangement which The Wall Street Journal notes “the publisher has traditionally reserved solely for its most important writers, such as Stephen King.”
During these tough economic times, the deal allows Simon & Schuster to lock in a rising star writer, while also lowering his advances prior to publication. From the WSJ:
Authors typically receive a royalty of 15% of the publisher’s suggested retail price on hardcover titles and a 7% to 10% royalty on paperbacks, money paid out after publishers have recouped their advance. Mr. Beck will accept smaller advances in exchange for a share in the profits. The deal will also provide him with more creative control over how his books are designed and marketed.
“I’d rather take a lower advance and have a partnership,” Mr. Beck, 45 years old, said. “I’ll bet on myself and a smart person on the other side of the table every time.” Mr. Beck said he took satisfaction in having a deal similar to that of Mr. King, noting that Mr. King described him in a magazine column as “Satan’s mentally challenged younger brother.”