Thursday, March 12, 2009

Ellora's Cave Delayed Payment--veinglory

Re Karen Scott's post "Financial Problems At Elloras Cave?": I have heard similar reports, but also mixed reports with some payments clearly getting through, and suggestions the problems were being addressed. It is not clear to me yet whether this is a technical glitch or indications of something more serious (or a bit of both).

See also:
Ellora’s Cave: Money Issues?


Teddy Pig said...

Is our bet still on? HEH!

veinglory said...

Did you officially accept the bet? Maybe I am going to lose some money : / Oh well.

Teddy Pig said...

Well, spring is here and if this follows the Trisk... I mean that... time line then we should hear something big by May followed by the main event in Nov.

You could still pull it off.

I personally am counting on a major meltdown floor show and blame game from the owner so keep an ear out.

Anonymous said...

I've always thought the monthly payment system at EC was a little dodgy, when most big (i.e., traditional) publishers pay quarterly or biennially. Sure it sucks to wait longer for payments, but one of the reasons those kinds of schedules exist is to make sure the $$ is actually _there_ to pay the authors with. I might be misremembering, but is it true that EC pays its authors using a forward-accounting system, paying them for print sales without holding a reserve on returns first? If so, that's a HUGE problem.

And why does EC sell its books only via its own site, and none of the secondary sales venues like Fictionwise, AllRomanceEbooks, BooksOnBoard, Stanza, Kindle, etc etc etc? Seems to me they're missing a huge chunk of the readership that way. EC's website is cumbersome and slow, too, which probably doesn't help.

Anonymous said...

@teddypig I sure hope you're wrong, but my sense is that something was headed in that direction too.

Hah - my spam word is "rewiger" as if we were wigged out before.

Treva Harte said...

Hey! Hey, hey! Loose Id and other e-publishers pay monthly. Our contract says we can pay every two months but we haven't ever done that unless an author requests us to do so. And we always have the money to pay the authors. But yes, it is one reason we are cautious about print.

Angelia Sparrow said...

EC is a week late with payment for March royalties.

Payments have been getting later and later. It was around the end of the month for sales through the 25th of that month.
Then it became the 5th business day of the following month.
Now, we have to wait 2 weeks past the 5th business day before we even mention our check is late.