I’ve been running Big Fish Recordings for the past three years or so, and while I certainly can’t claim to having one of the bigger labels out there, I will claim to knowing a thing or two about running a profitable label. My first piece of advice is to keep costs down to a minimum when starting your label. Artwork …
Accounting Basics – Uploading Royalty Statements
A royalty statement is a list of the royalties you have received from a store or your distributor that lists how many copies of each of your label’s tracks and releases have been sold, and how much money is due to you from each sale. As a label, it is your responsibility to calculate how much each individual artist is …
Accounting Basics – Artist Accounts
The number one question we get asked at Label Engine in regards to accounting is “what is the ‘Accounts’ drop-down for”? To delve into the reasoning behind it, let me first explain two different accounting methods that labels commonly use for royalty allocations. The first system is on a per-track basis. For each track, the label agrees with the artist …
The BIG Question – How do I get my release featured on Beatport?
As a label owner, I get asked this question so often, and lots of people assume that the banners on Beatport are paid features. Luckily, or unfortunately, depending on how you perceive it, this is not the case. The banners are editorial, meaning that Beatport listen to the tracks, view the documentation that you or your distributor provides them, and …
Pre-allocations, what are they and why should I use them?
Recently we’ve been working a lot on incorporating a pre-allocation system into Label Engine, but what are pre-allocations and why should you care? Well, with the standard way that most of you are used to doing your accounts with Label Engine, each time you upload a new statement you see a list of your royalties and work your way through …