As an author, you’ve likely spent countless hours crafting your story, and now that you’ve written your book, you might be wondering how to get it out into the world in other ways. One exciting avenue for authors is selling secondary rights to their work. These rights open up a range of opportunities for your book to be adapted, transformed, and marketed in various formats and platforms. (Please note, I am not a lawyer, and none of this constitutes as legal advice!)
What Are Secondary Rights?
Secondary rights (also known as subsidiary or subsidiary rights) refer to the rights that go beyond the core book deal – essentially, these are the rights to adapt, reproduce, or distribute your work in ways other than traditional print or ebook formats. Some of the most common secondary rights include:
Film and Television Rights: The right to adapt your book into a movie, TV show, or limited series.
Audiobook Rights: The right to produce an audiobook version of your written work.
Foreign Language Rights: The right to translate your book and sell it in other languages and markets.
Merchandising Rights: The right to produce and sell items based on your book (e.g., t-shirts, posters, toys).
Serialized Rights: The right to publish your book in parts or installments, often in magazines or newspapers.
Digital Rights: The right to publish or distribute your book digitally in other formats or on other platforms.
These rights are often separate from the initial book deal and can provide additional revenue streams or help promote your work in different formats.
How Do You Sell Secondary Rights?
Selling secondary rights can be an exciting opportunity, but it’s important to understand the process. Here’s how you can navigate selling these rights:
1. Work with Your Literary Agent
For many authors, a literary agent is key to selling secondary rights. Agents often have the connections and expertise needed to sell rights to film production companies, foreign publishers, and more. If you don’t already have an agent, consider finding one who specializes in the rights you want to sell.
How they help: Your agent will be able to negotiate deals, pitch your work to the right parties, and handle legal agreements.
Their role in secondary rights: Agents may help sell specific rights, such as film, foreign language, and audiobook rights, while leaving others (like merchandising) for you to handle independently.
2. Sell Rights Independently
If you don’t have an agent, or if you want to retain more control over your book’s secondary rights, you can negotiate directly with publishers, production companies, or distributors.
Film/TV Rights: If you have a film or TV adaptation in mind, you can approach production companies directly or through an entertainment lawyer. Sometimes, production companies will find you if your book garners enough attention, but it’s still important to be proactive.
Foreign Rights: Publishers in different countries may be interested in purchasing the translation rights. These deals are often made at international book fairs, such as the Frankfurt Book Fair, where publishers gather to buy and sell rights.
Audiobook Rights: You can approach audiobook production companies (like Audible, Findaway Voices, or independent audiobook producers) to sell the rights to create an audio version of your book.
3. Understand Your Contract
When selling secondary rights, be sure to read the terms carefully. Here are some key aspects to look out for:
Exclusivity: Some rights deals are exclusive, meaning that only one company or producer can use the rights for a set period of time. Others may be non-exclusive, which allows you to sell the rights to more than one party.
Territory: Pay attention to the territory or region in which the rights are sold. For example, if you sell the film rights for North America, that won’t prevent you from selling the rights for international markets.
Revenue: The payment structure will vary depending on the type of rights. For instance, film rights are often sold for a lump sum, while audiobook rights may be sold for royalties or a flat fee. Understand how you will be compensated.
Duration: The length of time the rights are being sold for matters. For example, you might sell film rights for five years or a specific number of adaptations.
4. Know the Value of Your Rights
Before you sell any rights, it’s important to understand the potential value of your work in other formats. Some things to consider:
Popularity and demand: Books with existing fan bases or those that are trending may have more value in terms of film/TV adaptations or foreign sales.
Genre: Certain genres, like thrillers, fantasy, or romance, often have higher demand for film adaptations or foreign translations. Consider how your book fits into broader market trends.
Adaptability: If your story has strong visual elements or a unique concept, it may be more attractive to film producers or merchandise companies.
5. Leveraging the Rights Sale for Marketing
Selling secondary rights can also work as a tool for marketing your book in its original format. For instance:
Film/TV Deals: A book that’s optioned for film or television often gets a boost in visibility. Even if it’s not immediately adapted, the announcement of a deal can drive interest in your book.
Foreign Sales: Translating your book into another language can open up new markets and new readers who might then explore your book in its original format.
6. Rights Reversion: What Happens After the Deal?
In some cases, rights deals may revert to the author after a certain period, such as if the book is not adapted or the agreement expires. Understanding your reversion clauses is critical so you can regain control over the rights if necessary.
Selling secondary rights is an excellent way to expand the reach of your work and gain additional income streams. It can open up new audiences, new opportunities, and even give your book a second life in different formats.
To you and your book!
Megan