PurpleWinterSept
Yes both need to be bought with money. Well, privledge is bought with coins (spirit stones) which is bought with money. Keep in mind that privledge just gives you access to the author's stockpile, you still need further coins to unlock those chapters on top of what you paid for privledge.
Privledge chapters release when the author adds another chapter. Yes this means that if an author goes on hiatus, drops off the face of the earth or just outright quits writing that the privledge chapters will stay locked behind that paywall indefinitely.
This is most troubling when a book ends and many end up in limbo as no new chapters are obviously being released but the final chapters are stuck in the pay wall until the author/site get around to finalizing the completion process.