E-reads, the e-book publisher founded by agent Richard Curtis in January 2000, is on its way toward collecting total royalty revenues in the "low six figures" for 2001, Curtis told PW. Under the company's business model, e-reads splits royalties 50/50 with its authors. Curtis said business in the second quarter will be triple that of the first period due in part to an increase in the number of titles available from the company, broader distribution and the launch of the ereads.com Web site.
The company currently has 400 titles available for downloading on all major e-book formats and about 1,500 titles in production. Curtis said about 99% of the e-books are reprints of printed editions for which the author has retained or regained the rights. While books can be purchased in either e-book or print-on-demand formats, Curtis said e-books "are more popular by far" than POD titles. E-reads does not sell titles directly from its Web site, but directs customers to a network of sites from which they can order titles. "When I started, I assumed I would be an e-retailer, but when I saw how hard it was I decided against it," Curtis explained. In May, Curtis entered into a strategic relationship with the e-retailer Fictionwise, a company that, according to Curtis, is the most advanced e-book delivery site he has seen.
By leaving the sale of titles to others, Curtis is free to devote more time to branding the e-reads name. To succeed in the e-publishing world, companies will need to carve an identity for themselves among consumers, Curtis said.
