Music Distribution Is Getting More Transparent. It's About Damn Time

  • 📰 RollingStone
  • ⏱ Reading Time:
  • 75 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 33%
  • Publisher: 51%

United States Headlines News

United States Latest News,United States Headlines

Historically, artists, songwriters, and producers have not gotten paid in a transparent or timely manner. New tools from Stem call for an upheaval of the music business’ status quo.

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 483. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Earn Money for Your Music Taste: 3LAU Raises $16M for Music Rights Marketplace RoyalThe DJ, producer and crypto enthusiast is launching Royal, a blockchain-based platform for investing in music rights.
Source: billboard - 🏆 112. / 63 Read more »

Music Producer Ryan Tedder Dishes on Adele's New Music and More!The musician and sought-after producer recently opened up to ET from his recording compound in L.A. Awesome 😃🧡🎹🎤🎸 One of the best Singers/Songwriters!! Stream Human Out Midnight 1RHuman 1RHumanListeningParty Jesus. Tone deaf much?
Source: etnow - 🏆 696. / 51 Read more »

Stem Now Offers Recoupment Accounting Before Splitting RevenueStem's new Recoup Rules feature that allows clients to automatically track and recoup expenses before splits are paid out on music releases.
Source: billboard - 🏆 112. / 63 Read more »

Wondery, Amazon Music Strike Licensing Deal With Tinkercast (Exclusive)Wondery+ and Amazon Music will have a one-week exclusive window to new podcasts from the family-oriented podcast company.
Source: THR - 🏆 411. / 53 Read more »

Vic Mensa, Blueface, YK Osiris & More Music Stars Hop On the Milk Crate ChallengeMilk crates have been tumbling across the U.S. thanks to the CrateChallenge, and Vic Mensa, Blueface & YK Osiris are among the challengers Okay
Source: billboard - 🏆 112. / 63 Read more »

She Was Everything: The Oral History of Aaliyah's 'Miss You' Music VideoThe music video for Aaliyah's single 'Miss You' served as an opportunity for fans to mourn. This is the story of how the entertainment world came together to honor the R&B icon one last time Selling my twitter 62k followers
Source: RollingStone - 🏆 483. / 51 Read more »