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SONY/ATV SPEEDS UP ROYALTY PAYMENTS

Sony/ATV Music Publishing is rolling out a series of initiatives to get royalties into songwriters’ pockets faster than ever.

Sony/ATV is introducing real-time inter-company processing for all foreign earnings from every territory in which the company operates. Foreign earnings will now be reported and paid in the same period in which they are collected.

In addition, Sony/ATV will offer a new Cash Out service that allows songwriters the opportunity to have some or all of their current royalty balance to be paid immediately. The service will be offered without a fee to songwriters.

Sony/ATV Chairman and CEO Jon Platt made the announcement, saying  “these ambitious new initiatives that will help to deliver our strategy to be the best service company in the world for songwriters. Powered by our industry-leading administration operations and best-in-class technology, we can now give our songwriters even greater control over their royalties and ensure that they get paid quicker than ever before.”

The services will be made available over the next year to all Sony/ATV songwriters on royalty portal and app SCORE that also provides an overview of historic earnings information.

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