I'm pulling WRESTLETOWN from Inkshares this week. Last night I sent the following to supporters on Inkshares:
I’m reaching out with some unfortunate news. I will be pulling WRESTLETOWN from Inkshares this week and discontinuing the campaign. All of you will receive refunds at that time.
This past Thursday I was made aware through a friend that Inkshares went through a major restructuring in July. As part of the restructuring, the new CEO revised the publishing agreement, changing the royalties from 50% gross to 35% net. He wrote a column on Medium.com explaining this, and emailed authors who had successfully funded a book, or had a book in production. However, he/Inkshares neglected to directly notify any of the authors with projects in progress on Inkshares. In a phone call with the CEO on Friday, I was told this was done because it would have been too much work/overwhelmed the company to handle the potential traffic from notifying that many people.
This is both unprofessional and unacceptable.
According to the CEO’s column, this change was done to save the company, as it was bleeding money. Great. I spent an extra month spending time and money promoting WRESTLETOWN because my publisher did not value updating me on a change in our agreement. Beyond that, I spent months pouring hours into a book only to find the terms changed to ones I never would have agreed to in the first place.
I was told by the CEO that the vast majority of authors found this change in terms to be acceptable. Many Inkshares authors are receiving this email tonight as supporters of WRESTLETOWN. I appreciate your support, but you should not find this change acceptable. Not only is it a decrease in percentage, but a change from GROSS to NET – a NET that is only approximately defined. There is no guarantee that Inkshares won’t change the terms again, as they operate with a take-it or leave-it policy.
On a positive note, I so appreciate all of your support over the past few months. From pre-orders, kind words and spreading the word, I can’t tell you enough how much it means to me. I’ve spoken with Andrew and we’ll work to bring WRESTLETOWN to life through another means, but for now I’m going to put the project on hold for a month and regroup.
Until next time…
Let’s kick this pig!