Smashwords.com logo says…
“your ebook. your way.”
They left off something, which should read:
your payment terms – any damn way the bigboys want ‘em.
If you’re publishing through Smashwords, I HOPE you’re as clueless about the payment schedule as I am. I gave up 6 months ago trying to figure out what is going on with it. I thought I’d post this table from my account there to show you how slow specific retailers are in paying for the ebooks already sold.
Let me say this – I fooking LOVE Smashwords – so, this is not entirely directed at them, or maybe not even at all. I love the service they offer. I love the support – hell the owner of the company writes me back personal emails, and promptly enough. That’s amazing in itself. I know, it’s probably his assistant, right? I don’t care, I FEEL like it’s him – so, good enough. 
They could have argued for better payment terms. Now that they’re a pretty big player, they probably can.
Will they?
The table below shows where we are as far as how updated my sales sheet is with the proper numbers of ebooks sold. This quarter my income through Smashwords skyrocketed, and that’s great news. What isn’t so great news is that everyone but Smashwords is more than 45 days behind in not only paying me, but letting me know how many of my books sold through their channel.
That’s just ridiculous in this modern age. Retailers COULD get their shite together if they wanted to – they don’t want to. Their payment terms must read something like “you’re paid when we’re good and ready to pay you.”
Here’s the table.:
As you can see, Smashwords is caught up with the numbers and what I see in my sales report – is what they have sold. That’s the way it should be with all these guys. Sure, there will be book returns, and you can adjust that the next time you update, but update in realtime for god’s sake.
Amazon hasn’t paid me through Smashwords for May, June, July, Aug, Sept, and now half of October. Holy H, that’s 165 days! What are they waiting for? Kindle TNT? What is the holdup? Even at Amazon KDP – where I’ve directly submitted books, I don’t get to see the final numbers until about 12 days into the following month. That’s bizarre.
The best one is Diesel – I don’t even know who the hell they are, I’ve never checked where they’re selling my books. They’re 45 days behind, and they are the best. Come on people…
Apple – owes me the most money by far, and they’re behind in telling me how many books have sold, by 75 days.
So, this is the state of things in the ebook sales world. I’ve noticed a 10 times gain in sales through Smashwords from the previous quarter, to this one. BUT, if these retailers like Apple, Sony, and the rest of the crew would update the fucking numbers – I could be 30 times what I was last quarter. It would just be nice to know – right?
Here – sell my books, take a couple hundred dollars for your selves in fees, and make me wait 165 days to tell me how many of my books have sold.
It’s like we’re in the 1970′s.
But at least we’re not dealing with paperback publishers.
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{ 5 comments… read them below or add one }
Mike, Smashwords has always paid on time.
Smashwords has always paid quarterly. We pay all proceeds received on your behalf as of the last day of each quarter. Please read the FAQ here – https://www.smashwords.com/about/supportfaq#Royalties and then read the instructions on your Sales and Payments page. The numbers you see on that page are not final until we finish loading all the final reports and record last minute payments from retailers.
I’d appreciate if you’d change this headline because it’s false and misleading. We DO NOT delay payments, and if payments are ever delayed, it’s the result of the authors’ own request or actions.
Here are the primary reasons someone would miss a quarterly payment at Smashwords:
1. Their account has been flagged for fraudulent activity. Your’s has not.
2. They asked us to delay payment in their Payee profile.
3. They did not earn enough to meet the payment threshold, which is $10 for PayPal and $75 for paper check (US only).
4. They want to be paid by paper check, but they gave us the wrong address (happens every quarter).
5. They gave us the wrong PayPal payee address, or they forgot to collect the earnings from PayPal (happens every quarter).
See my October 3, 2011 update here – https://www.smashwords.com/about/beta for tips on how to ensure you get paid on time in the payment round that goes out end of this month.
And yes, I answer my own email.
You’re right Mark, the title is misleading, I’ll change it when I can think of how to make it descriptive, and short enough to describe what I’m getting at.
It wasn’t a comment on Smashwords not paying fast enough because of Smashwords processes… it was more that Smashwords doesn’t pay fast enough because the retailers are not giving Mark the cash fast enough.
I’m not going back to read any of that stuff… I just don’t get it. It’s beyond me, and I’ve accepted that. I just trust that eventually it all gets worked out! I don’t have time to be watching that stuff daily. I check out amounts due every couple weeks, sometimes days, and I’ve been pleasantly surprised at recent sales. I wish Apple, Amazon, and the rest of those clowns would pay faster. Much faster.
I do recommend that everyone use Smashwords – I couldn’t do without it.
Mr. Coker: Like Mike I too am concerned. I believe Mike has said it best in relation to the awful arrangement Smashwords made with the Retailers. I understand that you were getting into the business and probably accepted any term that the Retailers offered vis a vis payment schedule. But it is time for you to demand a renegotiation of those terms. The authors like Mike and myself are really upset because you have allowed BN and other Retailers to pay you when they feel like and that makes us get money very very very late. I am almost six months in waiting for monies due to you from BN. I am upset. This is unacceptable in the day of instant delivery and instant payment. I would understand if these were the days of book publishing when payments came delayed, books were even on consignment and returns were the norm. However, the download is instant and the money paid is virtually instant so if BN gets their money for my book within a day (for argument’s sake) why is it taking six months for them to send the payments to you. Are they sending it by pony express? I totally empathize with Mike’s frustration. Perhaps you should have hired a great Entertainment Attorney, like me, to negotiate your Retailer Agreements. I am sure if I had vetted them, I would have advised you that certain of their clauses would subject you to this situation.If you do need my advice I would actually volunteer to help you for free. Absolutely free! Contact me at contactmylawyer@gmail.com if you would like my legal assistance again FREE OF COST.
I am
Conrad Milton Powell
Excellent post, Mike. Great, informative reply from Mark.
-Ray, Oahu
I am really upset about the reporting because, while I don’t sell that many ebooks, I have a couple in kindle select and don’t want to move the others until I find out how sales are going elsewhere. I have a cold today and it is driving me fricking crazy to not get the Apple numbers.
That is what happens when you are retired and have nothing else to do!
I know I have one free ebook on Smashwords, and of course it is jumping to the top of the lists. But if it is a useful marketing tool I would at least like to know in this lifetime! Sheesh.