Royalty Rates and the Word Net
I remember sitting in a drafty corner of a Soho cafe fifteen years ago, staring at a royalty statement that looked less like a financial document and more like a work of abstract fiction. A client of mine—a brilliant, hardworking novelist—had been told her sales were soaring, yet her check barely covered her grocery bill. That was the moment I realized that most people teaching you how royalties are calculated are either reading from a textbook or, worse, trying to sell you a dream that doesn’t exist. The industry loves to hide behind “retail price” and “net receipts” because they…