Take the Pain Out of Digital Music Royalty Payouts
The global music publishing market is expected to exceed $6.55 billion USD by the end of 2024 — but many digital publishers, distributors, music labels and performing rights organizations (PROs) are still finding it difficult to provide artists with a positive royalty payment experience.
Bringing music to a mass audience is the only way independent artists are able to get greater visibility and gain traction. The more listeners, the more royalties they will earn, which is what the digital music is built around. Sounds simple, right?
Unfortunately, it’s often not that easy for either the artists or for the royalty collection organizations responsible for payouts.
Key challenges that affect both parties include:
- Ease and Timeliness of Cross-Border Payments — First and foremost, artists want an easy way to get their payouts when they need them, where they need them, without taking a huge hit due to fees. But executing cross-border payments comes with its own set of challenges and expenses.
- Transparency — Musicians want to see exactly where their royalty earnings are coming from and know when they will be received. As a royalty collector, being able to provide that visibility into payment status, timing, and offering a choice of channels for payment delivery and receipt is a great way to differentiate yourself.
- Fraud Prevention — Fake artists and leaked music result in tens of thousands of lost dollars every year, affecting artists as well as royalty collectors.
Using a mass payment platform like Payoneer can help publishers, distributors and PROs improve the experience for artists, with an immediate measurable return on investment. With Payoneer, you can simplify cross-border payments to labels, artists and songwriters wherever they are located, while protecting your platform against fraudulent activity.
Want to learn more about Payoneer’s cross-border payments platform?