New vs. Existing Titles
When you get started with PubGizmo, we will work together to bring your existing data aboard, through an import process.
Once you are using PubGizmo, you will enter new data – new titles, new creators, new contracts, etc. PubGizmo needs to "know" the title's status, to determine how it manages your data.
New Titles
New titles are easy, because they don't have a history, and therefore, no historical data to import and configure. Anything new, including sales, gets entered directly into PubGizmo.
Existing Titles
Existing titles do have a history, which may or may not be relevant to calculating royalties.
Escalation
An Escalation Clause in a publishing contract involves a dynamic royalty rate based on sales, that is, the rate "escalates" as sales accumulate. For example, the rate could be 10% for the first 1000 books sold, and 12% for any books after that.
Of course, determining the rate means recording the quantity of books sold. For existing books, a record of the number of books sales must be brought into PubGizmo to run accurate calculations. In the example above, PubGizmo has to know when the title has sold 1000 copies, so it can adopt the new royalty rate of 12%.
At your press's PubGizmo initialization, this data can arrive by one of two methods:
- Past sales records are imported or manually entered.
- Raw sales numbers from the past are imported or manually entered.