If we had done only ITW, then GP would have not been sustainable (as a job) for us and we would have to quit years back. Let me break down some numbers (since your question has been brought up by some people who are annoyed with waiting for the next chapter and why we could not just be on one title).
Very long reading ahead:
ITW chapter by chapter -- it takes about 3-4 months (depends on the page count and RL issues) to make. This is the primary manga title we have and the most time consuming creation point because Jo is also a full time mother to two young boys (meaning her work hours are restricted when the kids are in school minus weekends). We have no assistants (a reg. series like BLEACH has up to 25). So all the penciling, inking, shading, page composites are done just by one person.
We put out on avg of 2-3 chapters a year now. Let's just use the 3 month-per book formula and say we can put out 4 a year. This alone could not have sustain our living anyway. Which brings us to several parts of why we had to pursue other venues as GP.
Our total income needs to support two full time jobs (with mortage, etc). And so, while Jo does the manga (in which I am sort of useless at) -- i work on the novels for future chapters and other works are done during the months when the manga is in production. The illustrated novels becomes a supporting source of income during these 'creation' months. Of course, without Jo's illlustrations to give the novel value - it won't sell as well (if any). So Jo only pauses on ITW titles to work on 10 illo and a cover for us to grow a catalog.
Big conventions like Comiket -- makes up a good fraction of our salary as well as help the licensed ITW to sell. We have to go through the grind, haul heavy boxes - stand in the extreme heat/cold to sell these books because what we can make at Comiket in one day are considerably more than 4-5 shows in US combined. Japan is our biggest Asian market (next to Taiwan/China) and so we have to constantly invest time and energy to promote. We are from overseas and have to work harder to remind people GP still exists year round.
Because ITW is licensed - we are not allowed to sell any chapters in Japan. Side stories like prequels are the only thing we are allowed to do. At most, we put out 1 Manga prequel a year (30-35 pages) and that is to meet the timing of the show.
Licensing... as much as people THINK we are raking it in, we aren't. We collect all of 7-8 cents PER manga sold (4-5 cents per copy in Japan now going by today's exchange rate). Uncle Sam takes 30% cut instantly, as soon as the royalty is paid (bi-annually) and the rest (after State taxes) is halved between us,
And we are not factoring in that I do think we will burn out if we are to do the same thing for the next 10 years.
I am not sure if this answered your question -- but it really isn't our intention to do multiple projects to F with people. It has more to do with strategically balance our schedule with enough financial return to keep our jobs. We simply can't do it with only putting out 4 doujins a year... and income only comes in during those quarters. Good side income we really don't need yes -- but now, I am the sole provider in a household of 3. And Jo is in a household of 4 with two expensive kids. We would have to quit if we couldn't juggle a viable schedule that brings us a steady stream of income, as if we have an office job and we get a steady pay.
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