Are you a Symphonic Client? If so, you probably already know about our innovative tool, SplitShare, which keeps all of your royalties, revenue splits, and payments in one centralized system for easy record keeping. Plus, it gives our clients the ability to automatically send other artists and track participants their share of royalties each month, directly in the SymphonicMS. In this post, we’ll shed some light on some of our favorite ways this tool can make your life easier.
How Our SplitShare Tool Can Save You Valuable Time & Energy
About SplitShare
SplitShare offers unparalleled transparency and control in the management of royalty splits, empowering music creators and rights holders with tools that go well beyond a simple Excel spreadsheet. SplitShare offers the ability to provide detailed visibility of royalty percentages to collaborators and is designed to streamline the royalty distribution process, making it more transparent and efficient for all parties involved. With this tool, all parties have free and easy access to royalty information via their Symphonic account, reducing confusion and the need for countless emails or phone calls.
Transparency for Collaborators in a Single Release
Let’s say you just released a track featuring a guest vocalist and a producer. With SplitShare, each collaborator can log into their Symphonic account and view not only the tracks they’re involved in, but also the specific percentage of royalties they are entitled to. This transparency builds trust and ensures that everyone is on the same page regarding financial splits.
Management Ease for Record Labels
Now maybe you’re not an artist, but a label who manages multiple artists and releases. You can also use SplitShare to automatically provide royalty split info to all your artists. Gone are the days of complicated spreadsheets and frustrating manual updates. With SplitShare, you save time and minimize the potential for errors when it comes to royalty distribution.
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Clarity for Music Producers
If you’re a producer who works on several projects with many different artists, SplitShare can help you easily track their royalty percentages for each track, no problem. This clarity is a big deal when it comes to accurate financial planning and clearly understanding the value of your contributions across various collaborations.
That way, everybody gets exactly what they’re owed. No stress, no mess.
Flexibility for Independent Artists
As an independent artist, you’ve already got a lot on your plate. Keeping up with royalty splits is the last thing you want to be dealing with. If you’re collaborating with other musicians and songwriters on an album, you can choose exactly how transparent you want to be with the ability to toggle the visibility of split percentages as needed in your account. This feature is a game-changer, as it ensures everyone involved understands their financial stake in the project.
Tools like this give you the time to focus on what really matters… the music. Not arguing over splits.
Not sure how to use SplitShare?
Before this feature, Symphonic clients would have to payout anyone they owed royalties to manually. This meant they had to request their own payment from Symphonic, wait to receive the payment, and then manually send out royalties to everyone they owed a share to. This also meant our clients had to keep track of payment and tax information for everyone they were paying
With the new feature, all this is easier than ever. Our clients don’t ever have to touch the money they owe to other parties, nor do they have to hold payment and tax details themselves. Everything is taken care of in our system.
To learn how to navigate to this feature in the SMS, how to edit track splits, send invites to your payees and more, check out this Help Desk article.
