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Kobalt Offers Online Pipeline Royalty Advances
June 17, 2008
- Publishing
| Digital and Mobile
By Mitchell Peters, L.A.
Music publishing rights administrator Kobalt Music Group has launched a new online tool that allows its copyright holders to view their publishing accounts in real time.
The new online pipeline royalty advances tool, which goes live tomorrow (June 18), allows Kobalt’s more than 700 worldwide clients to immediately see the amount of money available to them. The system also enables songwriters and rights holders to calculate theoretical fees associated with taking advances at different monetary levels, according to the company.
Kobalt’s tool gives clients “fast access to their money already in the pipeline for distribution, or access to money we project to be collected through incoming sales data or future earning estimates,” Kobalt CEO Willard Ahdritz said in a statement.
Additionally, for Kobalt clients with multiple administration deals, the new tool is designed to calculate the cost of taking an advance against existing agreements. Clients will also be given the option to create and submit an advance agreement letter, which, upon Kobalt’s approval, could lead to a money transfer in less than 24 hours.
Kobalt’s pipeline royalty advance offering was first revealed last year at Billboard's Music & Money conference in New York. The new announcement brings the offering online for the first time.
Kobalt's online tool may mark a larger trend in the music business. A recent demo from a Universal Music Publishing Group database promises similar transparency in accounting and usability of data.
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