How royalty reports are calculated
Every single day of every single month in a quarter we are liaising with partners that we work with. Partners such as Spotify, Beatport, Amazon and more are in constant communication with us.
With that said, each every partner not only reports at different times but, they report in different formats with different currencies and so forth. In addition, not all reports contain all of the information that we need to appropriately load and provide to you.
What we at Verse One do is gather all of these reports, ensure accuracy, match them to your releases and account and put all of the various different formats into one reporting format. Whatever data we do not get, you will see a “N/A” due to the fact that the information is not available in any of the original reporting that we receive.
Even with us calculating, gathering statements at various different days and times, we still have to wait to actually receive the funds from the partner in order to report to you thus, even though we report monthly, the funds may had not arrived and thus the report may get pushed back to the following month. We do this because we can’t control what occurs in a company that we work with and in the past, we have seen partners close or become bankrupt after we’ve “advanced” payments.
-We receive statements from partners monthly
-We verify and consolidate this data
-We verify for accuracy
-We invoice for payment
-We then upload to our system to where you see it in one place for us to be invoiced and pay you according to