The Ivors Academy is calling for an overhaul to the way streaming royalties are allocated after a new report estimates that songwriters and rightsholders are losing out on £500m a year globally due to poor data.
The Academy says royalties are unallocated or misallocated due to “poor, insufficient and conflicting data.” Unmatched streaming royalties are typically pooled and paid on a marketshare basis to songs that have already received payment through streaming, they say.
Graham Davies, Chief Executive of The Ivors Academy, has urgently called for “a new industry workflow based on new technologies and education of songwriters to close the data gap and ensure the right people are paid for their work.”
The Academy’s report also makes a number of recommendations.
