Hands up who read the erotic blockbuster, Fifty Shades of Grey? Okay, everyone, so who is now ready for the sequel?
Not what happened next for the virgin, Anastasia, and her billionaire boyfriend. How about what happened to the Australian Mum and her online friend from Texas, who published the book in the first place?
Maybe you heard they made a million dollars? That’s not quite right. They actually made $US39 million – and counting – and then they all went out to celebrate.
Kidding! That would be the Hollywood ending. In real life, they ended up in court, fighting over the cash.
In this month’s issue of The Weekly, we travel to Texas, to try to get the bottom of this surreal saga.
It is the story of how Amanda Haywood, described in court as a “bored, stay-at-home Mum from Newcastle, north of Sydney” went online one day, and discovered erotica.
She was thrilled, and soon started writing some steamy stories of her own, but rather than give them away for free, as other Mums were doing, she decided to form a little publishing company called The Writer’s Coffee Shop.
Who could have predicted that Amanda would go on to discover E. L. James, and then sign her up to write what would become the biggest selling book of the decade?
Who could have predicted how much money the Fifty Shades trilogy would go on to make?
In some ways, Amanda’s story is a cautionary tale: how many times have you sat down in front of the computer, wondering how to turn your hobby into a million dollar business?
Most people worry about what would happen if they failed … but what if you succeed?
How much of the money you make are you allowed to keep? How much do you have to share with others? You might think that you’ve got a few friends helping you out and cheering you on, but under what circumstances would those people become your actual business partners?
Did you know that it’s possible to have business partners, without having any kind of agreement in writing?
Also, tax. Imagine for a moment that $40 million suddenly landed in your personal bank account. Do you really owe $20 million in tax? And if so, how much of the $40 million will you see, once the court room battles are over?
There are lots of twists and turns in the Fifty Shades saga, but my favourite parts of the story are these:
a) When the author of the Fifty Shades books, E. L. James, writes to her old friend Amanda, practically begging to be let out of her contract with The Writer’s Coffee Shop so she can re-sell Fifty Shades to Random House for tens of millions of dollars saying: “You said you’d never hold me back (and) I can almost taste it, and I want it, really badly.”
b) When Amanda writes back, saying that the company is prepared to let her go … for a price.
c) When that price turns into a whopping $US 39 million (that’s around $53 million at today’s exchange rate) which is more than any Australian publisher has pocketed for any kind of book, ever.
d) When Amanda’s lawyer tells the jury that although Amanda referred to her friend, Jenny Pedroza, from Texas, as her business partner, she was never an actual business partner because “I can’t tell you how many times, especially in small towns in Texas, I’ve heard the phrase, ‘Howdy, partner.’ That don’t mean we’re partners in a business sense. It’s a way of saying ‘Hey’ in Texas.”
e) And finally, when Jenny’s lawyer, Mike Farris, asks Amanda in court why she cut ties with Jenny just as the money started rolling in:
Mike said: “You said there were financial problems.”
Amanda said: “There were.”
Mike said: “But the day before you terminated Jenny you had received about $US2.9 million from Random House, correct?”
Amanda: “Correct.”
“And in the Spring, you had received around $15.7 million, correct?”
“Correct.”
“And the previous Fall, you had received $16.5 million, correct?”
“Correct.”
“So you had just received a little under $US 39 million. What did you do with that money?”
Amanda replied: “I invested most of it … and I paid a massive tax bill.”
For more on the story of how a small, online publishing company ended up with the biggest book of the decade on its hands – and the feud between friends that followed – see this month’s issue of The Weekly, with Nigella on the cover. Out now.
The Teaser trailer is here for Fifty Shades Darker
