For those with accounting or full subscription, as well as our distribution customers, our Licensing section has been updated to speed up the allocation of royalties from Licenses. From the Licensing page under Accounts you will be able to enter details of each 3rd party release that your tracks are included in – you are now able to enter the …
Royalty Streaming Categorization Added
We’ve updated the accounting system to distinguish between downloads and streaming sales, allowing you to provide more accurate data to your artists, and to specify different allocations for streaming sales. Splits now include the option of specifying whether they apply to downloads, streaming or both, meaning our accounts subscription customers can set pre-allocations for each to automatically handle each type …
Accounting Basics – Expenses
The various costs incurred when putting out a release can quickly amount up to a large amount of money, not to mention all those pesky Label Engine subscription fees! The expenses section allows you to keep track of all these costs and fees and also pass on some of the expense to your artists if your label policy requires it. …
Accounting Basics – Allocating Royalties
The allocation screen can be a little daunting when you first use it, however it really is very straightforward. When a lot of labels begin using their system they think that we will automatically be able to do their accounts for them, however this unfortunately is not the case and it can require a substantial investment of time get things …
Accounting Basics – Templates
As your label grows, you will notice that you have more and more royalties to allocate each quarter. To speed up the allocation of royalties you can use Label Engine’s template system. Templates are used to specify what percentage of an original track goes to the original artist(s), what percentage goes to other companies, and what percentage goes to the …
Why isn’t my label making any money? Some advice from the semi-pros
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 …