Eight or nine centuries ago, the word 'roialte' appeared in Old French to describe the office of the king and, in due course, came to describe the rights and privileges granted to those in his favour, including the right to exploit resources on lands claimed by the king.
About three centuries ago, the first copyright law was created and the modern manner in which authors are paid for their work (through outright purchase or a share of profits) was established.
About a hundred and fifty years after that, the term 'royalty' developed to include intellectual property and so became a standard term in publishing contracts.
So, I as author, am like the feudal lord of the publisher, who plays the role of king, and I am granted the right by them to collect money from those who buy my book, who play the part of peasants in this increasingly bizarre pantomime.
As a writer, of course I believe that words matter and therefore terminology matters, and so I call for an end to this anachronistic spectacle. Just as, according to Roland Barthes, the birth of the reader necessitates the death of the author, so the death of the royalty is necessitated by the birth of the republic.
Henceforth, it is by that latter term - republic - that I will refer to my writerly earnings.