Unless they changed their ways since h.264, it's probably a non-commercial license, even for tools or devices that suggest otherwise - like Final Cut Pro (http://bemasc.net/wordpress/2010/02/02/no-you-cant-do-that-w...)
Royalties only get involved when distributing encoders & decoders.
See page 7 here http://www.mpegla.com/main/programs/HEVC/Documents/HEVCweb.p...
But with h.264, _codec_ licensing is for non-commercial (and internal business) use only (page 8).
There's no clear statement that HEVC licensing is for any and all purposes, and their use of the term "End user" in MPEG-LA's (non-binding) public material across patent pools is quite inconsistent, so it may mean only non-commercial users.
Given that it's MPEG-LA that we're talking about here, and their history, I assume there will be nasty surprises unless there's hard evidence that there aren't.
Good times.