October 1, 2019
Update from Elizabeth, Anne, and Lynn.
Hi there. Payments have been going out for the last few days. We are paying percentages of larger totals and entire amounts of smaller reports. More payments are scheduled for the rest of the week as payments from European publishers come in. IPG deposits on Oct. 10, and more payments will be sent then. Authors receiving smaller payments may receive a second payment after the 10th.
We are starting to bring the new system online that will provide 3Q reports to authors as early as possible. Watch your Box.net folder for files labeled 2019Q3. We hope to start uploading reports as payments are made by 4Q, so that authors can track sales as early. We will label reports as clearly as possible so authors can easily recognize interim sales reports with quarterly payment reports.
Any questions about payments or statements should be sent directly to Elizabeth.
Normally we supply the workshop handouts in the Author Newsletter that goes out on the first of the month after the workshop, but since we’ve been using weekly updates due to the financial volatility and the number of requests we’ve had from authors asking for information from the conference, we are sending it here. (Coincidentally ends up being the 1st of the month after the workshop)
Based on multiple emails from authors, there is an opinion that exclusive information was shared with attendees. Other than what has been shared in these updates and the opportunity to directly question Elizabeth and senior staff from Dreamspinner, no information was shared. We don’t wish to provide more confusion by listing the false information we’ve seen circulating, but to summarize:
- The loan from the SBA is still pending. We have no date. As soon as we have a date, we will announce immediately.
- There is no operating capital that is being saved. All income is being used to pay royalties and current invoices. Income = Payments
- Dreamspinner is not closing. We believe that what we are doing is important, recognize the mistakes we’ve made, and are working on fixing them.
- Author’s copyrights have not been used as collateral against any debt current or future. If an author asks for their rights, they will be returned.
- Dreamspinner’s best and fastest route to paying everyone owed is to remain in business and selling books. We don’t wish any author to do business with a publisher they don’t trust. Authors who wish to stay with Dreamspinner are welcome and will be promoted to the best of our ability. Authors who don’t are wished well and will continue to be cross promoted because we believe in the strength in diversity of characters. Authors who are leaving some rights with Dreamspinner and asking for others back will be treated exactly as all other Dreamspinner authors.
- Removal of books from retailers takes time. Retail distribution is not designed to handle sudden changes. Any sales of books after rights revert will be accounted for and paid to to the author.
The one option authors in attendance had was the opportunity to ask questions and to attend workshops presented at the event. There is no way to recreate the atmosphere of a workshop but the schedule and handouts can be downloaded below.
Written communication can never take the place of face to face, but Elizabeth happily uses Skype and will schedule a chat with anyone who wishes to talk with her. Her ID on Skype is dsp_elizabeth. Connect with her by email to schedule a chat.
Don’t want to be face to face? Use the ASK QUESTION option on the update website.
For those who attended the workshop if you asked a question, please click the ASK QUESTION link and ask the same question so others can see the answer.
FULL SCHEDULE & HANDOUTS – Authors interested who didn’t download from the email update, please contact Lynn.
Authors attending GRL who have ordered books directly should be receiving them in the next few days. If you don’t, please email Amanda at email@example.com.
For readers who pre-ordered through the Dreamspinner site, we have a set of authors who have generously donated their room space and time to distribute preorders. More information will be shared on when and where to both authors and readers as GRL gets closer.
Elizabeth, Anne, and Lynn