Prince Harry‘s publisher is aware it will “take a hit” in the sales of the royal memoir as a royal expert has claimed the Duke of Sussex will not earn $20million once published. The book is expected to be released in late 2022 and will be published in print and digital formats in the US by Random House and in Canada by Random House Canada. It will be published in the UK by Transworld, an imprint of Penguin Random House.
Royal expert Andrew Lownie told True Royalty TV’s The Royal Beat that he believes Prince Harry’s book deal for a reported $20m fee.
He said: “Is part of a multi-book deal, but you’ve got to sell a lot of books. A lot of publishers will take these books for reasons of prestige.
“That it is good, free publicity and they know they’re going to take a hit on it, so there is no way they’re going to earn $20m on it.”
It comes as Harry is able to avoid clarifying what amount of “proceeds” from his memoir will go to charity under US rules.
Harry’s has said he will be donating the proceeds to charity but this has sparked questions over the amount effectively being donated.
Royal correspondent Daisy McAndrew noted Harry, who received a $20millionadvance for the book, had spoken before about his bills and expensive lifestyle in the Oprah Winfrey interview.
Speaking to NBC’s Today, Ms McAndrew said: “Many people are saying the motivation is money.
“It has been said the proceeds of this book are going to charity but I’ve been trying to unpick that because proceeds might mean royalties, it might not mean royalties.
“In the UK you have to be very, very clear about which bits of what are going charity but I’m not sure the rules are quite the same in the states.
“There are still quite big question marks about the financial side of this.”
Harry said the memoir, to be published by Penguin Random House, will be written “not as the prince” he was, but as the man he has “become”.
He said, “I’m writing this not as the prince I was born but as the man I have become.”