I just read the most interesting blog post by Andrew Zack of The Zack Company (a literary agent). He goes into how royalty payments are working (The Way To Get Paid) these days and how royalty statements have not managed to keep up with the changes in technology.
Time was only people who were collecting money wanted to use ACH payments. Everyone else preferred checks so they’d have more time to pay, and get more interest from the banks. That trend appears to be reversing. But Andrew says publishers are now paying via ACH. Which is good for both writers and agents.
But it makes me wonder. If publishers are so willing to upgrade to epayments, why are they lagging behind the technology curve on everything else? Especially ebooks, where they could make so much money?
I recommend you peruse the above blog. It’s a very interesting "state of the industry" commentary from an agent.
