July 2, 2019
Hello from Elizabeth, Anne, and Lynn.
Today’s update is short; we are available by email if you have questions. We continue to direct all our energies to creating a Dreamspinner that serves our authors and communities.
We sent the majority of pending payments last week and over the weekend. Please remember that ACH payments (direct deposits to banks) take an average of three business days to transfer. The delivery of both ACH and checks will be impacted by the U.S. 4th of July holiday on Thursday.
As a note, Amazon’s payments were due to us on the 29th, but only half of the declared amount arrived. Amazon reports having issues with delivery of payments for GBP and Euros. Based on our communication with Amazon, this is a widespread problem and one they are working on.
A few questions came in this week asking about the Small Business Administration (SBA) we mentioned in previous statements. In the US, the SBA supports small and growing businesses. Its mission statement is to “aid, counsel, assist and protect the interests of small businesses, to preserve free enterprise and to maintain and strengthen the economy.” Dreamspinner qualifies under growth/development and for the expansion of exports because of our sales in foreign markets.
This week, our goals include:
Payment of authors and contractors.
Onboarding of authors and contractors through the Tipalti payment service to automate and speed up payments.
Transfer of audiobooks for library sales. Libraries are currently the fastest growing segment of the audio market and one previously unavailable to us through ACX/Audible.
We are here and willing to discuss the current situation as well as future plans with authors. Our email addresses are below. Until this situation has been completely resolved, we will issue an update every Tuesday.
Elizabeth North, Chief Executive Officer,
Anne Regan, Chief Operations Officer
Lynn West, Publisher and Chief Development Officer
Questions about rights releases: email@example.com
This statement is not confidential. PDF available upon request.