In March we announced a new and highly improved format for the reporting of royalties to our music publisher clients. We listened to our clients’ requests for electronic statements that are compatible with Excel and proprietary systems. The quality of the data was enhanced to provide more information than ever, including publishers’ account numbers, work numbers and associated writers. Summary amounts were also inserted at each of the work, publisher and file levels in order to provide an easier means of balancing statements to payments. New summary reports make the process easier still, while also providing more analytical breakdowns of the payable royalties based on different metrics. All outputs are accessible to clients at their convenience on CMRRA Direct, through an on demand data retrieval process.
We’re pleased to announce that Private Copying has joined the list of royalty sources being reported in this new format. This was one of the remaining lines of business to be converted, which leaves non-major label mechanical royalties as the remaining source to be reported in the new format. The team is working diligently on these final pieces and we hope to have some news to share with you in the coming months!