NEW YORK (Hypebot) — Sony Music is promising its artists real-time royalty tracking and monthly payments starting this fall. The major music group will launch ‘Real Time Royalties’ and ‘Cash Out’ via its Artist Portal to “allow our artists and royalty participants to view and withdraw earnings faster than ever before.”
“Once launched, Real Time Royalties, available anytime, anywhere through the Sony Music Artist Portal, will… provide you immediate updates about your global royalty earnings and account balances as soon as we receive financial reporting from hundreds of digital distribution services on a monthly basis,” the label said in a letter to artists today obtained by MBW.
‘Cash Out’ will enable monthly withdrawal of royalties. “There are no fees and no charges to use Cash Out, and we will continue to issue payment of any remaining account balances that have not been withdrawn through Cash Out on our normal payment schedule,” according to the letter.