One catch: they will only take on authors who are represented by an agency who has signed an agreement with Perseus!
Julie Bosman of The New York Times has this to say:
The Perseus Books Group has created a distribution and marketing service that will allow authors to self-publish their own e-books, the company said on Sunday.
The new service will give authors an alternative to other self-publishing services and a favorable revenue split that is unusual in the industry: 70 percent to the author and 30 percent to the distributor. Traditional publishers normally provide authors a royalty of about 25 percent for e-books.
The service arrives as authors are increasingly looking for ways to circumvent the traditional publishing model, take advantage of the infinite shelf space of the e-book world and release their own work. That’s especially the case for reviving out-of-print books whose rights have reverted back to the author.
Bloomsbury, a publisher based in Britain, said on Wednesday it had created a new publishing arm that would release digital-only titles. Companies like Open Road Integrated Media have successfully published digital editions of backlist books whose rights were not held by a publisher.
The new Perseus unit, called Argo Navis Author Services, will be available only to authors who are represented by an agency that has signed an agreement with Perseus. David Steinberger, the president and chief executive of the Perseus Books Group, said that the company had made an agreement with one major literary agency: Janklow & Nesbit Associates, whose authors include Ann Beattie, Anne Rice and Diane Johnson. Curtis Brown Ltd., which represents Karen Armstrong and Jim Collins, is also close to signing an agreement to make Argo Navis available to their authors. Perseus is in discussions with more than a dozen other agencies.
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