Home Uncategorized The Orchard Acquires RoyaltyShare, Invests In Korrect To Offer Music Royalty Processing

The Orchard Acquires RoyaltyShare, Invests In Korrect To Offer Music Royalty Processing

SHARE

[ad_1]


image from d25t5zhawhz6iz.cloudfront.net
Sony

owned The Orchard is extending its label
services with the acquisition of RoyaltyShare
and a strategic investment in Korrect. Details
of the deals were not disclosed, but RoyaltySare had previously
received $11.5 million in venture
funding.

Fresh off its purchase by Sony Music, music and video
distributor The Orchard has acquired RoyaltyShare and made a
strategic investment in Korrect, two royalty processing
services. The deal will combine elements of each business
to provide advanced royalty processing services to independent
record labels.

“We’re always looking for ways to free up our clients time to
allow them to focus on the creative side of their businesses,
whether it’s through performance rights collections, sales and
marketing, or premium video services,” says Brad Navin,
CEO of The Orchard. “Artist royalty processing is a natural
extension of our end-to-end solution, particularly as it
follows our philosophy of providing complete transparency from
point of purchase to artist payment.”

RoyaltyShare’s web based platform supports revenue processing
and master royalties for 90 independent record labels and music
distributors. Korrect offers accounting software that
tracks and supports Spotify and YouTube and other streaming
services.

The combined recorded music royalty processing platform will be
a standalone system accessible to all clients, as well as,
connected to The Orchard’s Workstation – The Orchard’s client
dashboard to track digital and physical sales along with
ancillary revenue – thus, relieving the burden of processing
artist statements and facilitating transparency.

 

[ad_2]

Source link