RoyaltyShare, Inc., a premier provider of technology solutions to the entertainment industry, today announced that destraMusic, (ASX: DES) Australia’s largest independent record label group, has engaged RoyaltyShare to manage digital sales processing and royalties for its leading owned and distributed independent record labels.
RoyaltyShare, Inc., a premier provider of technology solutions to the entertainment industry, today announced that destraMusic, (ASX: DES) Australia’s largest independent record label group, has engaged RoyaltyShare to manage digital sales processing and royalties for its leading owned and distributed independent record labels. These labels include destraMusic, Central Station Records, MRA Entertainment, Compass Bros Records, Eagle Rock Entertainment, Fable Records, Sweat It Out!, Hardwax and Grindin’.
“destraMusic has been at the forefront of digital and technological innovation,” said Ken Outch, CEO of destraMusic. “To keep up with the remarkable growth we have experienced in the digital arena, we selected RoyaltyShare’s comprehensive Digital Advantage services to provide our labels and partners with transparency into their digital sales channels and ensure that their artists continue to receive accurate royalty accountings.”
While the sale of digital music online and through mobile devices continues to grow rapidly, most record labels and music distributors are challenged to develop the IT infrastructure needed to manage the increasing volume of incoming sales data originating from these numerous retail sources. By leveraging the RoyaltyShare Digital Advantage services, destraMusic will add essential capabilities and tools needed to continue the effective and efficient management of its digital business as one of the fastest-growing entertainment companies in Australia.
“Forward-looking media companies such as destraMusic are turning to state-of-the-art, web-based platforms to manage critical business functions, and we welcome destraMusic as the latest high-profile customer of our Digital Advantage royalty platform,” said Bob Kohn, Chairman and CEO of RoyaltyShare. “By spreading the cost of developing and maintaining specialized data aggregation and royalty processing systems across hundreds of leading record labels, we’re able to provide efficient and cost effective technology services for our customers.”
RoyaltyShare’s specially designed hosted software allows for the easy import of sales data from all the major digital distribution retailers worldwide. After uploading their data files into the Digital Advantage server with a standard Web-browser interface, record label customers can rely on the RoyaltyShare team to handle all aspects of collecting, managing and consolidating incoming sales data to calculate accurate royalties.