Success Story: Streamlining performance royalty collection with Adastra’s AstraMuse Royalty Management Solution
24. 06. 2021
Royalties fuel the music and entertainment industry, allowing artistic talent to flourish and powering new media. As custodians of artists’ music rights and royalties, royalty processing organizations play an instrumental role in assimilating and matching playlist records and assigning royalties to their artists based on the frequency of song plays across various channels.
Despite the proliferation of both old and new mediums, ranging from radio channels to streaming platforms, many royalty processing organizations still rely on manual effort for record processing and royalty calculations. With increased volumes of data and records coming through new streaming channels, manual matching processes have become even more tedious and time-consuming. This limits the book of business a particular royalty processing organization can maintain and slows down the royalty payment throughput, resulting in long lead times for artist payments.
Adastra’s AstraMuse is an innovative solution that can automate royalty processing, allowing royalty processing organizations to increase efficiency, accuracy, and artist satisfaction.
AstraMuse is a subscription-based Music Royalty Management platform powered by Ataccama ONE technology. The solution helps music rights organizations or royalty processing entities improve repertoire or catalogue mastering, increase match rates, reduce cost and overheads involved in processing, and accelerate time to payment for royalty disbursements to artists.
Our solution facilitates the ingestion, cleansing and processing of structured and unstructured data into a Master Data Repertoire (Repository). Flattened Master Data is then used for matching for royalty calculations. The Master Data Repertoire can be synced with other connected systems like CISAC, SUISA to enhance the matching and distribution process and can be used by data stewards to search or view records. Where previously, PRO staff needed to manually go through huge volumes of records and match them, with AstraMuse, they just need to search, review, and confirm AI-generated matches for greater match accuracy.
One of major challenges faced by royalty processing organizations is the volume, quality, and state of the records that need to be processed. During manual processing, royalty processing organizations were often forced to prioritize their efforts based on revenue threshold levels resulting in further delays. AstraMuse leverages Adastra’s strong foundation in Metadata Management, Data Quality Management, and Master Data Management, along with Ataccama ONE’s self-driving data management and governance capabilities, to help improve match speed and accuracy, and to ingest and validate billions of records, delivering high performance usage-to-repertoire matching.
Our solution also provides match explainability, making it easy to audit and reconfirm matches for royalty calculation verification. AstraMuse offers White Box matching based on business rules, and records match rules as well as resolutions made by data stewards for greater transparency.
With AstraMuse’s Intelligent Matching, royalty processing organizations can do away with manual matching and instead leverage the power of AI and Machine Learning to increase the speed and accuracy of record matching. The solution provides AI-assisted data profiling for data contents recognition and can automatically map standard data elements. Our matching rules are powered by Machine Learning, creating a self-improving machine engine capable of making learned matches, that can either be automated or steward-driven. The solution also incorporates AI & ML to assist data steward workflows, by suggesting resolutions and creating automated feedback loops which are invaluable during bulk data processing. This data is prepared and ready to be provided to your financial ERP solutions to calculate royalty distribution.
Increase in Match Accuracy, reducing errors and re-work
Reduction in Matching Time resulting in greater efficiency
Increased throughput of royalty calculations and payments
Increase in Business Efficiency, opening the doors the new opportunities
Growth engine to acquire bigger book of business
Higher artist satisfaction
Increased staff efficiency by reducing manual tasks
Increased matching accuracy
Enhanced payment throughput, reduction in processing time
Reduction in latency for integration of new data sources
Moving away from low-value manual tasks and focus on strategic work
Increased productivity and efficiency
Reduction in errors and re-work
Increased sense of satisfaction from taking good care of artists
Faster royalty payments processing resulting in timely payouts
Increased satisfaction and trust in PRO
Greater sense of loyalty to royalty organization
Up-and-coming artists can focus on creative output without worrying about payment accuracy and speed
Looking for a solution to automate royalty processing and management? Schedule a free consultation with our experts to learn more about AstraMuse.
We will contact you as soon as possible.