Chapter 58: Chukuang’s Royalty
Yes, Yu Rong didn’t dare to give an offer!
After ten years as the chief editor of Fun Reads magazine, Yu Rong had read countless excellent short stories. This one was undoubtedly one of the top-tier works in his career, at least in his personal opinion. Of course, everyone’s perspective on literary works can vary.
However, Yu Rong was convinced of one thing:
Anyone who read The Gift of the Magi would find it hard to give it a mediocre review. The story was too moving, especially the unexpected yet perfectly fitting ending that left readers with a deep sense of reflection.
But there was no doubt about one thing:
He had to secure this story!
Taking a deep breath, Yu Rong called Chukuang and got straight to the point:
"It’s an honor to be among the first readers of this story. On behalf of the magazine, I’d like to offer 200,000 yuan for it. Now, I’m not saying the story is worth only 200,000, but our magazine’s standard payment has an upper limit..."
"200,000?"
Lin Yuan thought for a moment and agreed. After all, the magazine was just a platform for publishing The Gift of the Magi. He wasn’t selling off the rights to the story, so there was no need to be too demanding.
"200,000 for what?"
At that moment, Lin Yuan was out shopping with his sisters. His older sister’s ears perked up when she heard him on the phone. However, Lin Yuan wasn’t planning on revealing his true identity and simply brushed it off, saying, "It’s just salary stuff."
"Let’s go, Yaoyao!"
Lin Xuan grabbed her younger sister’s hand. "That outfit we saw earlier was stunning. It may be over 3,000 yuan, but hey, you’ve got a brother who’s rolling in cash now, right?"
"I don’t want it," Lin Yao said, reluctant to spend the money.
Even though Lin Yuan seemed to have come into some wealth, saving money was a habit deeply ingrained in all three siblings. Whether it was Lin Yuan, Lin Xuan, or Lin Yao, none of them were about to suddenly start spending recklessly just because they had more money.
"Let’s just head back, then," Lin Yuan suggested.
Lin Xuan huffed. "What a stingy brother."
Lin Yuan played along, flashing a miserly grin. He wasn’t about to admit that the two down jackets he had bought for Lin Yao earlier had both cost more than 3,000 yuan each. He just didn’t want her to feel guilty about wearing them.
When they got home, Lin Xuan started taking a flurry of work calls. It seemed the holiday break had left some tasks piled up. After a string of phone calls, she flopped onto the sofa in frustration, complaining,
"The senior editor said that authors always miss deadlines around the Spring Festival. This year, I finally understand. Almost half of the authors aren’t submitting anything for next month, and I bet the chief editor’s furious with me right now!"
"What does it mean when authors 'miss deadlines'?" Lin Yao asked curiously.
Lin Xuan explained,
"Missing deadlines, or 'leaving a blank,' originally referred to print media, where a designated section was left blank because an author didn’t submit their manuscript in time. In the novel world, it just means the author hasn’t delivered their work by the agreed deadline."
Lin Yao asked, "What happens if they miss it?"
Lin Xuan sighed,
"Generally, authors have both a ‘soft’ deadline and a ‘hard’ deadline. The soft deadline is when the author submits their draft so we can work on revisions. The hard deadline is when the manuscript absolutely has to be completed to meet the printing schedule. Missing the hard deadline risks delaying publication. And yes, deadlines are scary for authors, but some really talented and popular ones seem to make missing deadlines their signature move."
"Do they lose money for that?" Lin Yao asked.
Lin Xuan shook her head,
"Smaller authors wouldn’t dare miss deadlines since they’re contractually bound, and penalties like withholding payments are common. But for the really famous ones, like Dongfeng Laozei—the biggest author we work with—even though he misses deadlines by months at a time, no one dares to punish him. We just gently remind him."
"Is that so?"
Lin Yuan listened with interest as his sister and Lin Yao chatted. Although he had been publishing novels under the pen name Chukuang, he hadn’t been fully aware of the behind-the-scenes industry practices. What Lin Xuan said opened his eyes to the realities of the publishing world.
"There is some good news, though."
Lin Xuan’s mood brightened.
"Before the holidays, I reached out to an author who had just finished a contract with another publisher. I invited her to write for us, and she agreed! She’s now the biggest author in my portfolio, and her new book is incredible. It should be published after the New Year!"
"Do editors get commissions?" Lin Yuan asked, genuinely curious.
His sister shook her head.
"Not exactly, but it’s close. Our performance is evaluated based on how successful the authors we manage are. If you don’t have strong authors, your results will look bad, and that affects your salary and bonuses. That’s why we work so hard to sign talented writers."
"How about Chukuang?"
Lin Yao chimed in, suddenly interested. "Didn’t you say you know him? When he finishes his current novel, couldn’t you bring him to your publishing house for his next project?"
"..."
Lin Xuan chuckled. "You seem to really care about Chukuang, don’t you? Well, here’s the thing: Chukuang is signed to Silver Blue Publishing, one of the biggest publishing companies in Qinzhou. My company is nowhere near their level, so it’s pretty much impossible to poach him. Silver Blue will do everything to keep working with Chukuang."
"Wow, he must be really famous," Lin Yao commented, glancing at Lin Yuan.
Lin Xuan nodded,
"For a debut author in the young adult fantasy genre, Chukuang is a sensation. Prince of Tennis sold 1.4 million copies last month alone, ranking 12th overall in the young adult fantasy category."
"Only 12th?" Lin Yao was surprised.
"What do you mean 'only'?" Lin Xuan laughed.
"In such a competitive market, selling 1.4 million copies is incredible. Chukuang’s royalty share from last month alone is over a million yuan, and that’s assuming he signed a standard newbie contract. Given how well the book is doing, I bet his royalty rate will increase after the New Year."
Lin Yuan was stunned.
His sister had practically nailed his earnings estimate from last month!
But now that Prince of Tennis had surpassed a million copies in sales, Lin Yuan felt he owed a lot of credit to the professional tennis player who endorsed the book, boosting its visibility.
"Wait," Lin Yuan said, catching something in his sister’s explanation. "Why would Chukuang’s royalty rate increase?"
"That’s normal," Lin Xuan replied confidently.
"The initial royalty rate is based on the assumption that the book wouldn’t become a hit. But now that it’s blowing up, the publisher will likely offer him a better rate. Otherwise, they might lose him for his next project."
"That makes sense," Lin Yuan agreed.
Lin Xuan chuckled. "You don’t even write books, so why are you so interested? Anyway, let’s talk about something more fun—like the celebrity gossip at your company, Star Entertainment!"
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