Tag: Royalty payment
Meet AllTrack, the digital-era PRO for independent music creators
AllTrack, a modernized US-based performing rights organization (PRO) built to serve independent music creators, is announcing the launch of its digital creator platform. As of today, creators and publishers can join AllTrack to represent them for the public performance of their songs in over 120 countries across the globe.
AllTrack’s all-inclusive operating model provides for an instantaneous application and approval process for artists, writers, composers, producers, and publishers. It enables creators of all types to join for free, register songs, report live performances and begin receiving their global performance royalties. Its platform was designed from the ground up to empower each creator with a uniquely simple, powerful and transparent hub for managing all aspects of their performance royalties. It provides for the payment of equitable per-play royalty rates across all creators. Creators are not required to sign up as a publisher to receive their combined writer-publisher shares of performance royalties, and they always retain 100% of their ownership in their songs.“Independent creators are the fastest growing segment in music, and the emergence of this new wave of creators is having a dramatic effect on the industry. Digital-era creators have an appetite and need for new and impactful tools and services. Various industry solutions have been developed to enable independent creators to flourish in terms of marketing, access to fans, distribution and certain forms of rights management. Now independent creators also have a forward-thinking, technology-oriented global PRO built specifically to represent their best interests,” explains founder and CEO Hayden Bower.
AllTrack is led by Hayden Bower, a long time media and entertainment investor and former SESAC board member, as well as a team of executives that have served creators for decades within organizations such as SESAC, Rumblefish, Tunecore, Songs, Bicycle, and Bug Music. “We carefully assembled a team that is uniquely qualified to understand the challenges that independent creators face today. We know how the industry works, and we are excited to make it work better for our creators. We’re committed to making sure that AllTrack serves the needs of our creators and will continue to evolve appropriately as those needs change.” Creators are welcome to join AllTrack for free at www.alltrack.com.
World's First Blockchain Music Marketplace Issues First Payment to Producer Chuck Inglish- Songwriter/Producer Chuck Inglish received $8,272 today from Vezt after offering fans a royalty interest in his songwriter rights for "Wear My Hat," and "Gees," as recorded by artist Mac Miller. Using the Vezt app, more than 100 of his fans contributed the $8,272 in return for a portion of the royalty stream of the aforementioned titles in less than 30 days.Vezt recently released the app on both the Apple (iOS) and Google (Android) platforms and has seen surprising organic adoption of the app with conversion rates in excess of 10% and more than half of users buying into multiple Initial Song Offerings (ISOs™). After meeting the Vezt team, Inglish chose to list two of his titles on the app, hoping to cover a substantial portion of his monthly expenses. In less than 30 days both of his titles sold out, resulting in the $8,272 payment. Inglish has since listed a number of additional song rights on the app. Vezt collects payments from Performing Rights Organizations, publishers, digital platforms and record labels in more than 135 countries.Chuck Inglish, is an American rapper from Mount Clemens, Michigan and is one half of the hip-hop duo The Cool Kids alongside Sir Michael Rocks.Vezt (www.vezt.co) is a blockchain-based music app that allows fans the opportunity to acquire fractions of the royalty income from their favorite songs. Artists can now monetize the master, publisher or songwriter rights of any existing title within 30 days. These royalty rights include income from digital downloads, radio plays, digital streaming platforms, public performances, film and TV placements among other revenue sources, on a global basis.
CD Baby Becomes First Digital Distributor to Give Creators Affordable Tools to Create Simple Copyright Ownership Agreements and to Register With the U.S. Copyright Office via Partnership with CosyndCD Baby has partnered with Cosynd, the first affordable legal services platform made specifically for creators, to allow CD Baby’s members to document ownership of their content easier than ever before. Starting this November, the partnership will provide CD Baby’s members with a fast, affordable, and legal way to create basic copyright ownership agreements and to register their content with the U.S. Copyright Office, making CD Baby the only digital distributor to offer these valuable services to creators.
Cosynd offers both free and paid tiers of service. Under the partnership, CD Baby’s members will receive 1 month of free access to Cosynd’s Essential and Premium tiers, which will enable these members to create unlimited copyright split sheets (straightforward documentation of copyright ownership by percentage), full copyright ownership agreements (more detailed agreements covering vitals such as who can license the content), and work for hire agreements. Members will also be able to register their copyrights with the U.S. Copyright Office in a fraction of the time it would typically take a novice creator otherwise.
Without an ownership agreement in place, collaborators that created a copyright have an equal claim of ownership and rights by default, regardless of the size of their contribution under U.S. copyright law. Misunderstandings between collaborators can lead to a slew of legal issues including improper exploitation of copyrights and unpaid royalties. To date, an estimated $2.5 billion worth of “black box” royalties have gone unclaimed, because of a lack of available ownership data. Creators seeking to resolve matters of ownership and infringement are ineligible to file lawsuits unless they have registered with the U.S. Copyright Office.
Cosynd is the first platform to make documenting and managing this crucial ownership data and filing copyright registrations a breeze for creators of all types of content - music, videos, imagery, and literature. Whether creating a fast split sheet or a more extensive copyright ownership agreement, Cosynd walks each creator through building their custom agreement by asking a series of questions in non-legalese. Collaborators can assign default roles and splits to each other and multiple titles can be added to a single agreement at any time, eliminating redundant work. Aside from the variety of agreements available, Cosynd requires real e-signatures, which sets them apart from other platforms and is key for collaborators that face questions regarding ownership from content platforms, like YouTube. Once an agreement has been signed, collaborators cannot go back and change the ownership splits, as they can on other split sheet apps. Creators may also invite their attorneys to review/edit the agreements if they wish to at no additional charge.
“Making it easy for artists to manage the rights around their music catalog is a key part of being a total monetization solution. Our partnership with Cosynd provides these tools in a very accessible way,” says Tracy Maddux, CEO of CD Baby.
“There is more content being created and more opportunities to monetize that content than ever before. If you’re a creator, documenting ownership of your copyrights is a crucial step from the beginning - otherwise you won’t get paid! Disputes arise, liability increases, lawsuits ensue, and we all suffer the losses. CD Baby is one of the most trusted names in the music business and the go-to resource for educational information concerning music promotion, distribution, and rights management. We’re thrilled to be partnering with them to help creators protect themselves and their rights from the very start,” says Jessica Sobhraj, CEO of Cosynd.