both made headlines for their own masters-specific tech that they developed during quarantine times. But Stem is taking more of a big-picture look at the careers of today’s multi-faceted artists, according to Rabkin Lewis.
User-friendliness is also key to Recoup Rules. “Most of the accounting software out there is very enterprise-grade,” she says, acknowledging the existence of “tons of” music-focused tech already on the scene, such as that of Counterpoint Systems. “It’s meant to be used by a finance person or an accountant. We, however, built an interface — with the calculations all happening on the backend — that’s meant to be used by anyone who’s part of the management team or label.
When Stem was first getting started, the team quickly noticed a trend amongst clients: The person doing the uploading of the content was setting their split at 100 percent and then paying out all involved parties later in an unofficial, privately monitored, or disorganized manner. “That bummed us out,” Rabkin Lewis says.
Rabkin Lewis believes in peeling back the curtain in music’s money system, and hopes Stem’s new feature can be an integral part of that. The shareholders, she says, will be regularly updated on the status of the recoupment process via notifications and emails. “For the first time, [they] are part of the process and in the know. Traditionally, that producer/songwriter doesn’t get reported to for a long time.
“If you asked me these questions five years ago, I would’ve told you that the industry wants to be opaque because it benefits from opacity,” answers Rabkin Lewis. “I don’t think that’s true anymore. A lack of easy-to-use tools has prevented more clarity.
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