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Transparency & Our Dashboard: A Guide

15/07/16

Transparency. It's the word dominating every panel, opinion piece and interview within the music industry. The danger with all this high-level debate is that you might start thinking of it as an industry issue, rather than your own issue. In reality, the way the music industry is perceived reflects on us all. If we don't individually have transparency, we can't have it as a whole across the industry. Graph

Reports of artists questioning their payments from streaming platforms like Spotify make for familiar reading. YouTube is also getting closely scrutinised for its payments and practices.

Every song, every artist, and every transaction in the music industry today is creating data. Data is piling up and it's all coming from different sources in different ways, both online and offline. It's enough of a challenge to try and keep on top of it, let alone analyse it.

There isn't a silver bullet for the problem of transparency. It is an issue born of the systems and fragmentations that sit right at the heart of the business. Your own accounting and data reporting is, however, under your control. For your artists, the systems you choose to use are important decisions. They will either make you a part of the problem or a part of the solution.

As an industry we all need greater transparency of data. Accurate data, presented in a way that is easy to understand means we can make better decisions right through the chain. In recognition of this, we've developed a new state-of-the-art royalty dashboard that does just that.

If you would like a demo and further information on The Music Royalty Co dashboard, or providing greater transparency through accounting, we'd love to speak to you.