Remember, that advance an author is given is dependent on the author fulfilling his/her part of the contract, or as Eric Simonoff, an agent at WME Entertainment, called the advance: “a loan.”
If you’re a big name author, like Dan Brown, whose book is highly anticipated, your contract is not likely to be terminated. But if you’re midlist or your popularity has waned in the time it’s taken you to complete the book, you might want to look out.
“What has happened is that in the cold light of morning, publishers are looking at all these expensive deals they made based on the inflated marketplace, and now the bill is coming due and they don’t want the contracts anymore,” said one top agent, who spoke on the condition of anonymity.Agents are urging their authors to get their work in on time.
As Mr. Simonoff said, “The reality is, you don’t have to worry about lateness if they want your book. You only have to worry about lateness if they don’t.”