A Revolutionary Approach to Publishing: Authors Equity Emerges

In an exciting turn of events for the literary world, a new publishing house has emerged from the shadows, promising a groundbreaking shift in the dynamic between authors and publishers. Named Authors Equity, the venture is spearheaded by a trio of industry heavyweights: Madeline McIntosh, formerly at the helm of Penguin Random House US, now serving as CEO and publisher; Don Weisberg, ex-CEO of Macmillan, taking on the role of senior advisor; and Nina von Moltke, previous PRH president of strategic development, stepping in as president.

A New Era of Collaboration

According to Publishers Weekly, Authors Equity is positioning itself as a beacon of change in the publishing industry, focusing on a collaborative and author-centric model. The company has set out to redefine the relationship between author and publisher, advocating for a model where authors enjoy a significant share of the profits—reportedly between 60 to 70 percent—without the customary advance. This profit-sharing arrangement, payable monthly, aims to ensure that authors are not just participants but key decision-makers in the publishing process.

An Assembly of Industry Leaders

The founding team is joined by a cadre of seasoned professionals, including Robin Desser as editorial advisor, Carly Gorga, ex-head of partnerships and brand marketing at Penguin Random House, as chief marketing officer, and Andrea Bachofen, with experience from Amazon and PRH, as chief operating officer. The company emphasizes flexibility and customization, promising to work closely with authors and agents to curate a perfect team for each book.

A Partnership Fueled by Renowned Authors

James Clear, celebrated author of “Atomic Habits,” is not only the first author to sign with Authors Equity but also an investor, highlighting the company’s unique position at the intersection of better profits than traditional publishing and superior distribution compared to self-publishing. The venture is predominantly funded by authors, with notable names like Louise Penny and Tim Ferriss among the investors, ensuring a focus that remains firmly on author interests.

Strategic Distribution and Future Plans

Authors Equity has partnered with Simon & Schuster for book distribution and some production support, marking a strategic alliance that leverages S&S’s extensive distribution network while maintaining Authors Equity’s independent spirit. Although the company is tight-lipped about its upcoming titles, with plans to announce the first batch this spring, it sets an ambitious goal of publishing around 25 titles annually, focusing on quality over quantity.

A Commitment to the Author’s Experience

Madeline McIntosh emphasizes the importance of prioritizing the author’s experience over competitive financial incentives, aiming to compete on the strength of the publishing experience offered. This approach marks a significant departure from traditional practices, promising a more equitable and collaborative future for authors.

Authors Equity stands at the forefront of a potential revolution in publishing, championing an innovative model that could very well reshape how stories are brought to readers. With a strong leadership team, a commitment to author empowerment, and strategic partnerships in place, the company is poised to make a significant impact on the literary landscape.