When setting up a Contract In, you can add licensors and decide how the breakdowns work.
By default, when you set up a new Contract In for an artist that doesn’t have a licensor linked to it, this section of the Contract In will be blank.
1 - Add Licensor
To add a licensor simply press this Add Licensor button & you can search through a list of your licensors.
You are also able to create new Licensors from here as well. To do this, press Create New Licensor.
From here you will be prompted to enter the licensor's details. Please note only the following fields are mandatory at this point:
Licensor Name - which is what will display on the statement.
Contact Name - this will autofill with the Licensor Name unless you change it manually.
Email - this should be the licensor's email, but if you do not have it on hand, you can enter your personal email temporarily & update it once you’ve got it
Once these fields are filled, you can press Save, then you will be greeted with this prompt:
This allows you to link a licensor to a specific artist in the system. When you set up new Contract In for tracks/releases by that specific artist, it will automatically pull through the correct licensor.
If you have complex deals where different licensors are paid for the same artist, we would advise not linking them.
2 - Modify Licensor Share
Licensor share allows you to further break down the revenue assigned to a Contract In.
You are able to add multiple licensors and assign different rates, however, the rates defined in this section should always add up to 100%.
Using the example below, you are telling the system to allocate the licensors 50% on any physical rates. This is then split by the 2 licensors 50/50. So physical sales of $100 would result in the label receiving $50 (50%) and the 2 licensors receiving $25 each (50% of the 50%)
