Everyone had different situation. This is my opinion.
For a note that is around 2 of the first Harry Potter books. So for readers, if a story you read goes premium, then please remember the author has given 2 free books. I believe it started as China 200k characters but English word is harder than Chinese Character (well English has "to" to increase word counts). Nevertheless, this should benefit readers. (Also there is some rule of 'popularity', so not all novel with 200k words can be premium.)
NinjaScroll When you sign, they have the licensing rights to your novel so they can sell it anywhere.
This is normal. Even WN need to license translation novels from Qidian.
NinjaScroll If you earn under $200, they do not have to pay you.
If you earn over $200, they can delay any payment for up to 3 months.
This is normal in business. Walmart also delays, Amazon also delays. I even delay my supplier payment similar some stores delay the payment to me. We even have a delay to pay tax. The matter is duration.
NinjaScroll While under contract, if they ask you to do a book signing in China/Ph etc, then you must attend at your own expense.
This is rebuked. Ale is in China on Webnovel's cost. (Waiting for the Photo though @Sunnnyy similar to this https://forum.webnovel.com/d/7959-sunny-s-diary-part-i) (Yet, check the contract when one get it.)
NinjaScroll While contracted, they can tell you "suggestions" on how to make your story better for the readers (They tell you what to write).
If you can not comply with their "suggestions" they have the right to terminate your contract.
This is similar to Japanese Mangaka. A company also 'need' to direct certain manga. Perhaps 'terminated' them earlier if it is unpopular, etc and move the author to better prospect project. perhaps forced them to be 'prolonged' to milk more money. A company might know the market more than an author. Nevertheless, this is the reason for 'typical' style in each publisher company.
This might be bad for an 'artist' author.
NinjaScroll While contracted, they can hire someone else to write instead of you.
Perhaps it is because of Tales of Demons and Gods and MadSnails. Is it a 'ghost writer' writing it now? Since MadSnails made a new pen~name. Want more of this novel! If this is as Ale said then it is good.
NinjaScroll If terminated, you must pay back ALL the money you've earned while under contract + any damage they foresee to charge you with.
Erm... this is impossible clause. Almost no chance for WN to win outside China and HK. This is the biggest problem. One had to consult with 'lawyer' for this.
NinjaScroll If terminated, they will try to get the copyright of your novel so they can sell it anywhere with 100% profit.
This also needed to be checked when one get the contract. However, most traditional publishers now asked for the copyright. Consult this term with lawyer.
NinjaScroll All sales/ss/ad revenue will be split 50/50 with you and Webnovel.
WOW! This is more than I can imagine. (I thought only SS revenue is shared.) Perhaps this included 'Gift' or donation. Is this included Patreon revenue? (Based on Ale and Kevin, they can't post advanced chapter on any other platform.). Nevertheless, if Ads also given, then it is good.
Perhaps this is what the sweetener that a translator gets (Webnovel Premium is not as profitable compared to Patreon system for now). Nevertheless, this made unpopular novel would find a translator harder tho. All want popular ones. (Readers who made a novel request should consider this).
Warning: This is a good reason to make your collection data better @WEBNOVEL_OFFICIAL. That is a good sign of you have the 'real' data. I know even Wattpad manipulated number of view data. However, please correct the 'collection' bug. It is hard to trust ads and income data if you can't give your correct collections number.
NinjaScroll They have other charges too, so you'll really end up with about 30% of the profit, then if you've got editor/artist that you've got to pay, will become much less.
A bit strange, I believe usually Traditional Publisher handle this. The traditional publisher asked for 85~95% tho instead of 50%. So 30% is a bit higher than what traditional publisher give (5~15%). (I have to admit Traditional Publisher had better reach with offline book and bigger bargaining power with Amazon. Other than Ale, the other contracted authors don't get that good treatment. At least, give some banner advertising or apps ads! Some even readers didn't know the entire contracted novel.).
NinjaScroll All ss revenue will be for paying ss only, any free will not generate any money for you.
This is fair. Free SS is free promotion for readers who can't pay. As a reader, this is good. As an author, this meant you share your book for free. Might not suit some authors who write for his living. This is a big information for readers. Nevertheless the price for 'paid' SS is too expensive.
This is the source opinion not in the contract. Based on the staff, Original Authors is offered the same contract signed by IET, Er Gen, and many more.
This is better than the slave contract rumor, where it was rumored future novels has to be 'contracted' to WN.
Also even when Outline need to be submitted, could WN stop an author for making it speedier? Author still had power when to end a novel. Not very bad compared to the 'slave' contract rumor.
There are points that an original authors need to considered especially about ownership in case of termination, but most of Original Authors are amateurs who would never have a chance to contract with a traditional publisher. Even traditional publisher want ownership now.
Worst come worst, there is a ghost writer made a fan-fiction with Patreon donation for her version of a popular novel that she used to ghost write.
For those who didn't like see their ownership shared. Self-Publishing in Amazon is the way. Use Webnovel to promote your novel. That is allowed. There is also other sites for promotion.
There is also problem of Webnovel's support to other contracted authors outside Ale. This is actually the worst advertising of Original Author program in my opinion. Even some translation projects didn't have the support as good as Ale.
PS: I have suggested a rotating banner for Webnovel's contracted work (translation and original). You can make app ads with different novels. Readers also would enjoy seeing novel illustration. Webnovel also could introduce more novels to its own readers perhaps making them paying for SS. This only cost in-house designer time.