Due to the urgency of this topic, I made a live stream about it. If you are pressed for time, this is Webnovel's document you can read about.
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If you wish to know all the details about how to get started because you are a new writer, please refer to my free e-course and in specific, Level 2. Webnovel's MGS system is still the same as the old one with only a payout difference. You can read about the MGS strategy I wrote about here.
There are 2 parts to this new Webnovel writer benefit payout. MGS is the premium portion where you lock your chapters for readers but they can still read for free using fast pass and pirate sites. The other one behind a compulsory paywall is called privilege. To qualify for win-win, you must have privilege chapters.
Check out Aimee Lynn's video about Webnovel Privilege here.
As the new rules are rather simple to understand, I will not repeat what is written. Instead, I will clarify some doubts and give appropriate advice for new writers or writers who are not earning enough to qualify for the new scheme.
Q1: Will I still be paid if I don't meet the USD60 requirements after signing an exclusive contract?
A: Yes. Webnovel's exclusive contract still allows you to earn 50% of what readers pay for your book. However, you need to accumulate up to USD200 in their system before they make a bank transfer to you. Any money not paid out during the month of earnings will be snowballed to the next month until the minimum payout sum of USD200.
You can check your monthly income on the 5th of the following month on the Inkstone writing platform. However, you will not receive the money immediately as bank transfer differs from country to country. Also, the money you see on Inkstone will not all reach your bank as there will be international transfer banking fees as well as withholding taxes depending on which country you are from.
Q2: If I earn more than USD200, will I get an extra USD200? What happens if I earn more than USD400. Am I still given the extra USD200?
A: For the first 4 months, you can get an additional USD200 by earning more than USD200. It doesn't matter if it is USD201 or USD1,000, Webnovel will give you a cash bonus of USD200 only for your MGS period as a reward.
Q3: When should I lock my chapters for premium and start MGS?
A: You start MGS as soon as your chapters are locked. You can now apply for premium dates yourself and decide which chapters to lock ahead of time. It takes effect on the following month so use that time to prepare well.
I advice new writers who want to maximise the MGS scheme to calculate an estimate if they are able to reach USD60 minimum earnings to receive the USD200 payout. If you are not concerned about that then you can proceed without consideration.
Rule of thumb to estimate earning USD60, use 1% of your total collections and calculate the estimated amount of coins used to unlock a chapter. Check if you would have enough potential paying readers unlocking your locked chapters prepared to meet USD60 for the month.
1 coin = USD0.02 (But you only earn USD0.01)
200 words = 1 coin
Paying readers = 1% x total collections of book
Bad Example:
Step 1: 2,000 collections x 1% = 20 paying readers
Step 2: 1,500 chapter / 200 words = 7.5 (round up) = 8 coins per chapter
Step 3: USD60 / USD0.08 (value of 8 coins) = 750 chapter unlocks needed
Step 4: 30 locked chapters by end of the month x 20 paying readers = 600 chapters (potentially paid unlocks)
Since the potential paid unlocks are less than the required chapter unlocks for USD60, it's not a good idea to sign up for premium and MGS in the next month. Increase the number of subscribers first or the number of chapters you want to lock.
Good Example:
Step 1: 1,500 collections x 1% = 15 paying readers
Step 2: 2,000 chapter / 200 words = 10 coins per chapter
Step 3: USD60 / USD0.10 (value of 10 coins) = 600 chapter unlocks needed
Step 4: 50 locked chapters by end of the month x 15 paying readers = 750 chapters (potentially paid unlocks)
Here you can see that even with lesser collections, the total potentially unlocked chapters is more than the chapters required to meet USD60. While it is not a foolproof guarantee of success, it is a vague guideline that you can make the premium work somewhat.
**Note that the quality of story and reader types also matter and not everything will work out according to this formula!**
Q4: Should I do MGS and Privilege together?
A: I would suggest you to do 1 month of MGS first then prepare for privilege in the next month. This gives you a rough idea about the kind of paying readers you have and if they're willing to pay for compulsory paid to read chapters.
Q5: Should I mass upload chapters when privilege launches or keep it consistent daily uploads?
A: The best would be to introduce a privilege mass release so that you can keep daily chapters going for those who cannot afford to pay. However, it depends on how much you can do as a writer. There's no hard and fast rule, your MGS will not be affected if you publish a new chapter behind the paywall with no chapters for the broke readers.
In conclusion...
I mentioned before that Webnovel is a huge sugar daddy who doesn't love anyone but themselves. For all new writers who are enamoured by the thought of making it big on Webnovel, I would suggest you read all my free e-course before deciding if this is truly what you want. The number of webnovel writers who regretted joining webnovel exclusively compared to those who did not regret is significantly higher. I'm almost confident to say that less than 1% of contracted authors with webnovel loved their decision. Please also remember that webnovel is not the only sugar daddy.
That's all from me. If you do have any questions, please find the webnovel content editors to clarify your doubts. I can only offer you wisdom from my personal experience but I am not an official webnovel spokesperson. Take everything with a pinch of salt and stay sane!