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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.
When something is sold on a royalty basis, its license holders calculate and put aside a share of the earnings to compensate the original creators. That money is then distributed to recipients in an agreed manner and on a set cycle.
Not all software is created equal. For the large majority of royalty-based businesses, specialist solutions will beat generalist products on every count. Here are just ten reasons why.
Revenue sharing gives licensees a cut of revenue based on use or sales, aligning payouts with performance and encouraging long-term success.
In an era of rapid transformation, the book publishing industry is under more pressure than ever to modernize, streamline operations, and do more with fewer resources. Choosing the right software makes a huge difference for any publishing company’s success.
A guide that explains how royalties work, demystifies the underlying agreements, and offers insights into automating payments.
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.
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.
Royalty management requires impeccable accounting to ensure compliance and internal and external auditability and to maintain positive relationships with partners. This means devoting significant human and technical resources to the process. Failure to properly manage royalties or rights can lead to erroneous payments, broken trust from clients, and negative impact on your bottom line.