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With the new Royalty Tracker® agents feature, publishers can process agents’ fees with the click of a button, and instantly publish agents’ statements to the online Royalty Portal. Watch the demo here.
At MetaComet, we work with financial professionals across a wide range of industries to make royalty processes smoother, more accurate, and more efficient. In this guide, we’ll answer some of the most frequently asked questions from licensees and publishers about how royalties are paid.
A guide that explains how royalties work, demystifies the underlying agreements, and offers insights into automating payments.
Royalties are a crucial aspect of financial management in various industries, particularly in publishing, biotechnology, franchising, and natural resources. Here’s a detailed overview of how royalties are calculated, when they are paid, typical percentages, and related concepts.
The largest private audiobook production company in the US radically upgraded its royalty management process using MetaComet® software. By adopting Royalty Tracker® and Sales Aggregator, John Marshall Media and Lantern Audio Distribution saved multiple days of work per quarter, eliminated errors in calculations, and streamlined the payment process.
Royalty payments are a key instrument in book publishing, biotechnology, and other industries that rely on the licensing and transfer of intellectual property. If your business is paying royalties to more than a handful of recipients in each royalty period, you may benefit from a software system that automates that process for you.
A November 21 article from The Bookseller reports on the publishing industry’s “hidden epidemic” of chaotic royalty management, payments, and communication. (Heloise Wood, “Royalties survey sparks calls for change as Society of Authors reveals ‘increased reliance on hardship grants.’”)
In this video we look at exactly how automated royalty management systems work, walking through real-world royalty processing scenarios. We demonstrate how to use an automated system to record contract terms, process disparate sales files, perform calculations, and generate and transmit royalty statements, reports, and payment files. We also review the implementation process and discuss best practices for a smooth and painless transition to automation.
Managing royalties can be a stressful part of publishing, but help is at hand if you need it. In this episode of the IPG Podcast we talk to David Marlin of MetaComet Systems about taking the effort and risk out of calculating and paying royalties via automation.
Automating the calculation and payment of royalties is a sure-fire way to improve accuracy and efficiency. Good royalty management should be part of the strong foundations of all publishing businesses. It saves time, reduces risk, and establishes a strong reputation.