If you’re one of the many e-book customers who’s expecting a payment or credit as a result of the 49 states’ recent $69 million settlement with HarperCollins, Hachette and Simon & Schuster, you should be aware that “the states have slightly modified the way those payments will work,” according to Paid Content reporter Laura Hazard Owen.
In a post filed this morning, Owen detailed two of the latest modifications to the payments that were filed by the states’ attorneys. (Click here to view the six-page document on Scribd.)
As for the changes to the way credits will be disbursed, those modifications are fairly minimal; they probably won’t affect many customers in any sort of a meaningful way. (Nevertheless, you can check out the Paid Content post if you’re interested in the specifics.)
The modifications made to the way cash payouts will be disbursed, however, are somewhat significant. From the aforementioned post:
1. Payouts: The settlement had originally said that consumers who bought agency-priced ebooks between April 1, 2010 and May 21, 2012 would receive $1.32 per book for purchase of New York Times bestsellers, $0.36 per book for frontlist titles [in their first year of publication], and $0.25 for backlist [older] titles.” But retailers have said they “will be unable to provide the degree of precision needed to accurately separate and identify frontlist and backlist purchases,” so instead there will now be just two payout categories: $1.32 for New York Times bestsellers and $0.3o for all other titles.
We’ll be sure to keep you updated if any further modifications or updates come to light.