How does the royalty payment process work?
1. Sales Confirmation
When sales have been confirmed, your balance will be updated. These sales are reflected as confirmed sales in the MusicMyBand platform and added to your balance.
Once a sales report has been confirmed, the system redraws the graph on the Analytics screen, taking into account the new values.
2. Royalty Payout
You will be able to see the balance you have available in your account. If you have any balance available, you may initiate a withdrawal directly from your MusicMyBand account.
Note: Confirmed Royalties are posted 3 months after publication. For instance, for all albums published in November, the following 3 months will be December, January and February.
In some occasions, royalties can be pending confirmation due to extraordinary circumstances, such as:
a) The music service is being unusually late on payments. As soon as we are confirmed of an excessive delay on payment by the service or are aware of this special circumstance, we will communicate it to each tenant so they can plan for this inconvenience in advance.
b) A technical issue has hampered the normal confirmation schedule and there is a backlog on confirmation. In that event, we will prepare and communicate to each tenant a payment plan so they can have an estimation as to when sales will be confirmed and payable.
c) Music services apply small adjustments in recent reports that apply to previous periods. These adjustments can appear as unconfirmed sales since the service usually applies them without any notification. We review these adjustments periodically to include them in our confirmation period and stay up to date. Please bear in mind that new ones may appear in the future as music services are constantly reviewing their reporting processes.