RoyaltyShare, a provider of digital royalty solutions to the entertainment industry, has announced its formal company launch with a suite of web-based services that provide management of both mechanical and artist royalties. RoyaltyShare also announced the general availability of RoyaltyShare Digital Advantage, a service for aggregating and monitoring digital sales data. The offering enables record labels and music distributors to consolidate, manage, and interpret data from digital music and video revenue streams.
As part of the announcement, the company detailed plans for a suite of services designed to address the needs of record labels and distributors: RoyaltyShare Digital Advantage; RoyaltyShare Mechanical Royalty Service; and RoyaltyShare Artist Royalty Service. RoyaltyShare Digital Advantage is designed to simplify the management of sales information from disparate sources. The service utilizes specially designed software adapters that allow for the import of sales data from digital distribution retailers such as iTunes, Napster, eMusic, Rhapsody, and others. After uploading their data files into the Digital Advantage server with a standard web-browser interface, customers can use the RoyaltyShare team to handle all aspects of collecting, managing, and consolidating the incoming sales data. The variable, month-to-month service fee model allows for accurate data management for labels and distributors of all sizes. Clients are billed 1.5% of all royalty revenues processed.
To complete its product strategy, RoyaltyShare announced the forthcoming availability of its Artist and Mechanical Royalty Services, optimized for calculating and processing royalties for the digital world. Currently in beta-testing mode, these services will roll out to provide a solution for labels to pay out accurate royalties to artists and publishers.