SAN DIEGO, June 15 /PRNewswire/ --
- Web-based Service Now Offers Complete Support for UK Record Labels to Process Royalties Owed to the Mechanical-Copyright Protection Society
RoyaltyShare, a premier provider of technology solutions to the entertainment industry, today announced that its Digital Advantage service now features full support for UK Record Labels to process mechanical royalties owed to the Mechanical-Copyright Protection Society (MCPS). With the addition of MCPS reporting, the Digital Advantage service now supports all of a UK label's royalty reporting needs while providing detailed analytics to support their business.
As the primary royalty collection society in the UK, MCPS, a component of PRS for Music in the UK, collects and pays mechanical royalties to its music publisher and songwriter members whenever one of their recordings is reproduced onto any format and distributed to the public, performed or played in public, broadcast or made available online. UK-based record labels are responsible for reporting mechanical royalties to MCPS through statements that identify the number of physical units sold over a specific period.
By creating an automated process for reporting mechanical royalties to MCPS, RoyaltyShare is continuing to simplify royalty accounting for record labels in the UK, said Paul Clements, MCPS Director of Licensing. We look forward to working with RoyaltyShare to enable the streamlined processing and payment of mechanical royalties for our members.
RoyaltyShare Digital Advantage is an industry-first service for aggregating and monitoring a record label's sales data and calculating the royalties owed to artists, songwriters and music publishers. The offering enables record labels and music distributors to consolidate, manage and interpret royalty data from digital, physical and video revenue streams. The service utilizes specially designed software that enables the easy import of sales data from all the major digital distribution retailers such as iTunes, Napster, eMusic, Rhapsody and many others. After uploading their data files into the Digital Advantage server with a standard Web-browser interface, customers can rely on the RoyaltyShare team to handle all aspects of collecting, managing and consolidating both artist and mechanical royalties.
Record labels need state of the art royalty processing solutions to keep up with the constant advances in distribution, while maintaining fair and equitable royalty accounting for all stakeholders, artists, and songwriters, said RoyaltyShare chairman and CEO Bob Kohn. By automating the royalty process, the RoyaltyShare Digital Advantage service now provides our record label clients in the UK with a comprehensive application to meet all of their royalty reporting needs.
The RoyaltyShare Digital Advantage service requires no investment in software, hardware, maintenance or upgrades. With flexible, pay-as-you-go pricing, RoyaltyShare's Web-based platform consolidates catalog metadata, licenses, contracts, payees, sales files and royalty statements into an easy to understand interface that can be accessed from anywhere, at any time. Built from the ground up to manage the complexities of the digital world, the Digital Advantage platform automates sales file management from digital services and provides records labels with unprecedented insight into their digital business.
RoyaltyShare is the worldwide leader in web-based royalty processing and digital content management solutions for the global entertainment industry. Utilizing an innovative Software-as-a-Service (SaaS) application delivery model, RoyaltyShare provides a suite of on-demand services dedicated to simplifying the increasingly complex digital sales process. Its state-of-the-art system and dedicated 24/7 support team enable music labels, distributors and publishers to accurately manage the entire digital sales process anytime, anywhere. RoyaltyShare's service offerings include metadata management, managing sales and distribution information, calculating royalties and generating Web-accessible royalty reports. RoyaltyShare's web-based solution supports the management of content sold through digital, physical, subscription, mobile and other channels. For more information, please visit http://www.royaltyshare.com.
Steve Grady, President, COO of RoyaltyShare, +1-858-784-5411, firstname.lastname@example.org; or Jay Mejia of Nadel Phelan, +1-831-440-2401, email@example.com, for RoyaltyShare