From Publishing Perspectives:
Since launching some five years ago, PubMatch—the international online platform for rights catalog management—has attracted some 9,000 users from 151 countries and listings covering some 25,000 titles. Next week, the company — a joint venture between The Combined Book Exhibit (CBE) and Publishers Weekly — will take its next big step, when it launches the ability to facilitate direct transactions between book rights buyers and rights sellers.
“It took almost two years of working with Deloitte just to get all the tax implications for foreign rights sales correct,” said Seth Dellon, Director of Product Development for PubMatch.
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So, you might think of it as an online dating service for publishers — or perhaps, now that it facilitates transactions, more of an escort service, should you choose to use it that way.
The new transaction feature is powered by Copyright Clearance Center, and CCC and PubMatch split a 30% commission on any deals. The feature offers buyers and sellers total flexibility to alter a boilerplate contract, one that allows each to determine such variables as royalties, term length, and format. The transaction fees can be paid via a credit card or an invoice.
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“Our goal isn’t to replace front list negotiations or titles,” said Dellon. “Really, we see the value in the transactional system as being especially valuable for publishers who want to monetize their backlist and for self-published authors who don’t have the in-house resources to figure out things such as their tax exposure or a foreign rights sale or don’t have an agent working to sell rights on their behalf.”
Link to the rest at Publishing Perspectives and thanks to Eric for the tip.