In a move that could fundamentally reshape the publishing industry, Meridian Press announced yesterday that it will transition all new contracts to a revenue-sharing model that gives authors 50% of net profits—roughly double the industry standard.

The announcement sent shockwaves through the publishing world. Traditional royalty rates have remained largely unchanged for decades, with most authors receiving between 7-15% of cover price, depending on format and sales volume.

"The current model was designed for a different era," said Meridian CEO Sarah Chen in a press conference. "Authors take the creative risks; they should share more equitably in the rewards."

The new program, called 'Partnership Publishing,' will also give authors more control over cover design, pricing, and marketing decisions—areas where traditional publishers have historically maintained tight control.

Industry analysts are divided on the implications. Some predict other publishers will be forced to follow suit to retain top talent. Others warn that higher author payments could mean fewer acquisitions overall, particularly for debut writers.

The Authors Guild has praised the move, calling it "a long-overdue recognition of authors' essential role in the publishing ecosystem." We'll continue to follow this story as other publishers respond.