Tuesday, July 21, 2015
Universal Music Publishing's Royalty Portal Now Allows Writers to Request Advance
The Universal Music Publishing Group's Royalty Windows portal now provides real-time processing of royalties with balance updates as they are booked and collected, according to the company.
In addition, the UMPG portal now allows for its writers to request an advance against their incoming royalties at any time for no additional fee. Initially, the later component is being rolled out to the U.S. and U.K, with the rest of the world gaining that capability over the next year.
"Universal Music Publishing Group continues to be at the forefront in offering the very best system and global copyright administration worldwide," Universal Music Publishing Group chairman and CEO Jody Gerson said in a statement. "Because of our industry-leading technology we're able to continually develop new features and services that meet the needs of our songwriters."
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Universal Music Publishing Group Chairman/CEO Jody Gerson on Balancing Hits With Legacy and What It's Like to Compete With Your Ex-Boss
The company says its portal, online since 2008, already provided 24/7 online access to royalty statements, payment information and royalty data. It also offers a suite of additional analysis tools and personalized income tracking services.
"Innovation, technology and a significant administrative presence in all major global music markets are the keys to maximizing income and opportunities for ourselves and our writer clients." said UMPG executive VP of operations and worldwide CFO Michael J. Sammis said in a statement. "We continue to concentrate our efforts on these and other priorities of our writers including increased transparency, access and best-in-class administration globally."
As part of that, one-third of UMPG's core employees around the globe are dedicated local royalty and copyright administration staffers that ensure accuracy, maximize efficiency, payment flow and creative opportunities in each market, while also helping to keep local societies in check.
In general, business managers and auditors say that the Universal Music Group has the best financial systems for its artists and songwriters among the majors.