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Mo's Nobel may pull in 200m yuan by year's end

(Shanghai Daily)

08:06, October 24, 2012

FOR Chinese writer Mo Yan, the laurel of the Nobel Prize may be literary gold. For others, it's a chance to make a fortune.

Mo, the latest winner of the Nobel Prize in Literature who saw his new book just hit the market, might become the richest writer in China, media reports said.

It's estimated that Mo prize could generate 200 million yuan (US$32.3 million) just this year, according to China Economic Weekly magazine.

Guo Jingming, 24, topped the Rich List of Chinese Writers in 2011, with a royalty income of 24.5 million yuan.

"It's like a movie star winning an Oscar," Tang Juan, a marketing director with a publishing company based in Beijing, told the magazine.

The company, Beijing Genuine & Profound Cultural Development Co, is the only publisher in China with the right to publish all of Mo's books.

The company staff worked around clock to publish Mo's new book, "Our Assassin Jing Ke," ahead of schedule soon after Mo's prize was announced.

Apart from the Nobel Prize award of about 7.5 million yuan, copyright royalties will contribute a large share of Mo's income.

All Mo's books have been sold out so fast both online and in bookstores that many readers have to reserve them and wait for the books to be printed.

Insiders said Mo may get more than 10 percent of the books' sales, which could earn him 110 million yuan. Also, more of Mo's books are expected to be adapted to movies and plays. About 20 movie companies have already made inquiries of the writer and agencies.

"Now we do not need to do much promotion and other publishers and movie companies will come to us," Tang said.

Tang said the publisher studied Mo's works for years before signing the writer.

"We considered the possibility that Mo wins the Nobel prize. But it never occurred to us that the win would come that fast," she said.
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