Let’s start with the basics - what are royalties?
Royalties are the payments that come from every stream, sale or monetised use of your music.
Why would I need help managing my label’s royalties?
Our distribution network includes over 100 DSPs worldwide who issue detailed statements on a monthly or quarterly basis - some with millions of lines of data.
It’s your responsibility as a label manager to make sure that everyone credited on a record receives the correct royalties.
As a result, royalty accounting can be daunting, confusing and time-consuming if you choose to do it manually, especially with a growing catalogue and complicated deal structures.
What is RoyaltyWorx?
RoyaltyWorx is our custom-built royalty accounting solution for independent labels.
Every aspect of royalty accounting is streamlined - it’s designed to make it as easy as possible to keep on top of your royalties, pay artists on time, and manage huge amounts of data from statements without any stress.
Who is RoyaltyWorx for?
Whether you’re an emerging independent or an established label with a catalogue spanning decades, RoyaltyWorx is a scalable solution that gives you the tools to pay your artists accurately and on time.
Do I have to use LabelWorx distribution to use RoyaltyWorx?
No. RoyaltyWorx can be used as a standalone service that supports statements from other distributors.
How does it work?
It’s an intuitive system that we’ve designed to be as straightforward as possible so you don’t need to be an accounting expert to know that your label’s finances are in order:
- Once you log in (it’s cloud-based so you can do this from anywhere) you’ll be able to replicate the deals you sign with your artists.
- Add any expenses.
- Import your royalty statements from LabelWorx with the click of a button and let RoyaltyWorx do all the sums.
- Generate and send your artist statements.
- You can then manage artist invoices and payments through the same system.
What are the benefits?
- It takes the stress out of royalties, saves you time and you won’t have to worry that your label owes money or you’ve accidentally paid someone twice.
- Complex deal structures are supported and you can even work in multiple currencies.
- Your statements will be branded for consistency, and we’ll provide you with training and support whenever you need it.
- Regular accounting helps you build trust with the people you work with - most artists prefer a label that is transparent with royalties, even if they aren’t owed anything.
Can you import statements from places like Bandcamp?
Yes. You can import statements from Bandcamp and even manage data from the sales of merch or physical formats like vinyl.
Who else uses RoyaltyWorx?
RoyaltyWorx is trusted by some of the industry’s biggest brands including LoudKult, Lofi Records, Smash The House and Revealed Recordings.
“It's a pleasure to work with the team of dedicated music lovers. Royalty Worx is a great solution for the less exciting aspects of label life. It's so great that calculations became fun.” - Vladimir Ivkovic, Desolat
How much does it cost?
Prices start from just £10 per month and we can tailor packages based on your needs and circumstances. Get in touch for a quote.