We communicate with many copyright holders and they all unanimously claim that the main function in the rights management process for them is to work with reports from sites.
Indeed, several times a month, employees of music publishers, distributors of music and video content face hellish work, the accuracy of which depends on how much money the rightholder will receive.
There is no single standard of reports in the licensed content market, and the sites send a usage report in the format "as it is convenient for us, so we do". The rightholder turns out to be a hostage of the situation - because he is interested in the platform unscrewing his content and paying money.
Employees of the rightholder are forced to excavate in the zoo reports provided with errors, without ISRC codes, without precise indication of the performers, and only knowledge of their catalog "by heart" allows them to understand such situations.
The next stage of calculations: determining the shares for the payment of copyright and related, and the distribution of the earned money.
It is clear that neither the label nor the distributors work for free. And the main problem they solve is correct calculations, payments to individuals, with the payment of taxes for them and bookkeeping.
How can Media Rights Revolution help you?
The first step is to download reports
The platform is able to import reports correctly and compare the intellectual property objects found in the report (music, movies, etc.) with the company's catalog.
What is reconciliation? MR2 finds the most likely matches of report objects and objects in the catalog and suggests creating a link between them. Having built a match for reports from this site, the next time the system identifies the object automatically.
The second step is calculations and distribution.
After downloading the report, MediaRights Revolution automatically calculates the amounts to be distributed for each participant in the transaction (or the rightholder), takes into account taxation, and generates a financial report for each counterparty, according to the available records on the shares of copyright holders and configured distribution schemes for contracts for the purchase/sale of rights.
Safe your time with MediaRights Revolution. If you feel that calculations take up too much of your time, contact us, we will help you get rid of routine and avoid mistakes.