Joe Konrath has written yet another great article on the hazards of accepting a book deal with legacy publishers. Here is an excerpt:
For the whole article, click here.I've seen several authors who have done well self-pubbing, then taken a legacy deal. If you can get a big chunk of money upfront, go for it. But it has to be walking-away money (meaning never expect to ever get your rights back or earn another penny.)I've been watching the self-pubbed authors who have signed legacy deals. Watching their Amazon rankings. Watching the bestseller lists. While I'm not privy to details of their contracts, I haven't seen any of these authors do better with a legacy publisher than they were doing on their own.Keep that in mind when the Big 6 contact you, saying they discovered you on Kindle and are proud to offer you a contract. Other than a huge advance, I can't see any allure at all to a legacy deal.