Anyway, as I’ve complained many times before, these “advances” given to leftwing figures are not advances at all.
True advances are, well, advances against expected future royalties. That’s why they’re called “advances”.
People expect that a J.K. Rowling book will produce at least $5 million in royalties, so you give her a $5 million advance on those royalties. You’re giving her a payment on her royalties in advance of actually seeing those sales.
But you do expect them.
You don’t pay her fresh royalties until the royalties she generates exceeds the initial advance on royalties you paid her.
When she makes $5 million and one hundred dollars, you send her a fresh check for one hundred dollars.
When these major media conglomerates, all left-leaning and most with business before the government, give millions to Hillary Clinton and Hunter Biden and Andrew Cuomo, there is no one at that company that expects the books will ever make that much in royalties.
They’re just payoffs. Or disguised political donations.
It’s not an “advance” if you cannot show a plausible stream of sales which will meet or exceed that “advance”.
Personally, I’d love to see some kind of law on this subject to force these large media corporations to prove that they have a genuine, rational belief that a Hunter Biden book will make $10 million in sales (which would justify a million dollar advance, assuming a royalty of 10%).
And I’d like to see their corporate officers sign certifications for the government that they’re not fudging the numbers. And that they understand that there might be prosecutions for perjury if they do lie about expected future royalties.
Much like people in the financial sector are constantly required to sign.
Why should media corporations be immune from such requirements?
And I’d love to see these disguised campaign donations treated and limited just like actual campaign donations.
Or, better yet: No “advances” for serving politicians, declared politicians who are running, or any politician ten years after his term of service ends. They can just take their royalty checks as royalties actually accrue.
If Hunter Biden really sells $10 million in books — LOL — then he’ll get that million dollars eventually in royalty payments. They’ll just come over the course of a year or two rather than all at once in an “advance” on future earnings.
If not — then not.
This isn’t stopping them from getting paid for books they sell — it’s to stop mega-media-corporations with business before the government, and a strong desire to pay off politicians they like, from giving “advances” to favored politicians that bear no relationship whatsoever to the actual expected royalties the books will generate.
Ace, “Ethics Agency Might Claw Back Cuomo’s $5 Million ‘Advance’ For His ‘Book'”, Ace of Spades H.Q., 2021-08-27.
November 28, 2021
QotD: Hidden political pay-offs as “book advances”
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