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Royalty accounting in the music industry is the process of calculating and distributing royalties to various right holders, such as songwriters, composers, performers, and record labels, based on the use of music.
It involves reporting the music usage, calculating royalties as per the rules, and ensuring that that the respective parties (e.g., songwriters, publishers) receive their fair share of earnings.
Efficient monitoring and data collection: Music usage is continuously monitored by various sources, including streaming services, radio stations, TV networks, and venues. These sources track when and where music is played or streamed. The playlist logs need to be collected regularly to update and maintain the master data.
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