As part of our outsource royalty accounting service, we store, update and maintain comprehensive product catalog information, contract information (individuals or companies, artists, composers, publishers, producers or third party licensor royalty payee and reporting requirements), sales information, and other related data.
Record & Mechanical Royalty Accounting System Contract Capabilities
- Digital downloads and streams usage. Physical sales (making a come back!)
- Escalations by date, unit volume or a combination of both
- Store option period, budget and financial information
- Artist reserves
- Payments/ deductions against payees, or payee/product combinations
- Recoupment for each advance payment or recording cost
- Cross balances (full crossing or only recouped balanced)
- Packaging deductions
- Free goods: set fixed deduction
- Free goods: set fixed threshold for proportions of free to royalty-bearing sales
- Free goods: set threshold above which free goods are processed as royalty-bearing ones
- Update recoupable cost balances and reserves held
- Manage Minimum payment threshold and suspense accounts
- Mechanical Royalties: store unknown royalties in suspense account
- Preview of royalty runs before statements are released
Record & Mechanical Royalty Accounting System Payment Capabilities
- Digital & Physical Products and Sales
- New media calculations (e.g. permanent download, tethered download, subscription, peer-to-peer (P2P), streaming, ringtones)
- Contracts for individual or multiple payees
- Retroactive and prospective calculations
- Percentage of receipts calculations
- Flat fee calculations
- Special market calculations
- Record club calculations
- Foreign sales
- Multiple price and unit type reporting, e.g. PPD and retail
- Multi-currency support
- Mechanical Royalties: Processing of Mechanical Licenses and respective publisher royalty statements by the applicable rate, sales type, territory, deductions (Free Goods), extended time calculations, and reserve adjustments
- Preview of royalty runs before statements are released
Music Publishing System Capabilities
- Comprehensive repository of song, publisher, client, rate, and share information
- Details of individual clients to be paid
- Recoupable costs and advances
- Cross-collateralizing of accounts
- Multiple society and electronic royalty income mapping of income files
- Multi-currency support
- Preview of royalty runs before statements are released