Our tech team has been extra busy this month coding some exciting new features for Label Engine. Here’s a brief rundown of what’s new:
New database engine:
We have implemented a new database engine for our entire system which will lead to 3-5X performance increase on heavy operations such as accounting. In order to meet our scale growth we’ve increased our capacity by 10X overall and have also targeted for a reduction in recovery time to maintain a highly available service.
Royalties for YouTube statements will now be grouped by track as opposed to by video – meaning that you will now only see a single royalty per track that will display each video and channel that is included. Clicking on the video or channel, or the territory, store or format when allocating a royalty will provide you with details of the royalty received for each item. You can now also include videos and channels in splits so that royalties from a particular video or channel can be allocated using different pre-allocations.
In addition, you can now specify video, channel and asset columns when uploading royalty statements to allow the upload of YouTube and YouTube red statements. The asset column allows the mapping of royalties to YouTube asset data which can be uploaded separately using the YouTube asset export. This feature is intended for advanced users only and is currently in beta testing – please contact us if you are interested in using this feature.
You can now specify whether you would like accounting items such as royalty statements, expenses or payments to be grouped monthly, quarterly (4 times a year) or bi-yearly (2 times a year). You can select your preference from the main accounting page and your preference will be used throughout the Label Engine system.
We’ve changed the way that you record expenses received along with your royalty statements. Statement expenses are things such as tax, bank transfers, currency exchange or withheld promotional expenses that may be deducted your incoming payment but are not included in your royalty statement. You can now enter these expenses (or sales) at any time when allocating your royalty statement and the expenses will automatically be allocated once your have finished processing the royalty statement. Expense items can be entered directly from the bottom of the statement page – the function to allocate to a statement has been removed from the dedicated sale or expense item page.
For additional clarity when allocating royalties we have added a new match type called ‘Pre-Match’. This is used when the system determines that a pre-allocation should be used based upon a previous application of that pre-allocation on a royalty.
Client Information Request:
A client information request can be sent to any artist or company and and will provide them with a URL they can visit to complete their payment and social media information for use in the Label Engine system. You can create and email a client information request from the bottom of the page when editing an artist or companies details.
If you have a lot of releases to import and they are not available on Beatport, you can now fill in a xlsx spreadsheet with the track information and the releases will be created automatically. We will be expanding this feature soon to add the ability to include pre-allocation information.