Thanks for the insight. Is it the dream of authors to become editors - similar to how every actor says 'well I what I really want to do is direct"?
Depends. Some editors have no interest in writing. Some writers have no interest in editing. I basically went from being a full-time editor and part-time writer to being a full-time writer and part-time editor. But I've known people who definitely prefer one to the other.
And then there are editors who become agents, or agents who become writers. Me, I have no interest in ever becoming an agent.
Regarding royalties . . . again, the answer is: it depends. There are different royalty rates for hardcovers, trade paperbacks, mass-market, ebooks, book club editions, original novels, tie-ins, etc.
With tie-ins, the licensor typically gets the lion share's of the royalties, but sometime the author gets one or two percent.
With an original novel, the author gets a larger cut.
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