In the latest edition of Music Week, we deliver a special report looking at the royalty collections business. And, thanks to the explosion in streaming consumption, business is very much booming in 2019.
As part of the feature, we spoke to a host of major players in the sector, such as Songtrust, MRC, Sony/ATV, Audoo, PPL, ASCAP, Sentric, Soundlounge and CC Young & Co about how the arrival of new platforms has led to a technological revolution sweeping the sector.
Here, Music Week asks some top names to give their expert tips on how to speed up those all-important royalty payments. Read on and learn…
“Pick a royalty collection solution that is both as transparent and direct as possible. Songtrust is directly affiliated with over 45 societies around the world, thereby removing delays and additional cuts and getting the maximum amount of revenue back as quickly as possible to the creator.”
Lara Baker, business development director, UK & Ireland, Songtrust
“First, understand the amounts you are currently receiving. Second, are all songs registered everywhere and being collected correctly? I would recommend to anybody struggling with streaming data to seek the help of a professional service or software to assist with this.”
Ray Bush, founder, MRC
“For songwriters, associate with a global music publisher who accounts real-time information from a global publishing system. It’s also imperative that songwriters deliver their works in a timely manner to ensure their publisher can claim and collect on their behalf.”
Amy Cranford, vice president of publishing administration, Sony/ATV Music Publishing
“I would advise those who wish to increase their streams of revenues from royalties to deduce who is on their side and who isn’t, as early as possible. When all parties involved in the creation of music align with organisations and individuals who are fighting the same fight, the end result will change the landscape forever.”
Ryan Edwards, founder and CEO, Audoo
“Ensure that you provide as much correct information as possible to those that collect your royalties. This includes not just recording metadata, but, for performers, tax and personal information too. Without this, it is very hard to access all the monies that are due around the world.”
Peter Leathem, CEO, PPL
“It is essential to provide accurate metadata to your PRO, including writers, their splits and publisher affiliations, as well as who produced and played on the recordings – everything needed for the allocation of rights and payments to all parties. Complete and authoritative copyrighted works ownership information helps ensure that everyone who contributes to the creative process is fairly compensated.”?
Elizabeth Matthews, CEO, ASCAP
“The simplest advice I give songwriters is to ensure that they’re members of a collection society that is the most relevant to the territory where they’re generating the highest amount of income and then working with a publisher – like Sentric Music – who collect directly as well as on a multi-territory basis.”
Phil Rose, head of rights management, Sentric Music Group
“If you are lucky enough to secure a sync deal, ensure that the correct data has been registered with the agency. Supply an MP3 attached to the licence and if there has been a re-record, find out who it is and then call us and we can check for you.”
Ruth Simmons, CEO, Soundlounge
“Reduce the amount of intermediaries where possible. If the income is going through multiple sub-publishers, sub-labels, neighbouring rights agents or collection societies before it reaches the client, then that income is only going to get smaller. Are these intermediaries increasing your revenues by more than what they are costing you?”
Colin Young, director, CC Young & Co