Symphonic Unveils Suite of Tools Revolutionizing Catalog Transfer, Recoupments, Royalty Transparency, and More 13 Feb 2024
Tools Include Transfer Track, SplitShare, Enhanced Recoupments, and Marketing Drivers
Symphonic Distribution, a leading music technology and services company for independent labels, managers, and artists, has announced the rollout of four revolutionary tools: Transfer Track, SplitShare, Enhanced Recoupments, and new Marketing Drivers process. These four new tools represent a significant step forward in music distribution, promotion, and royalty transparency for Symphonic clients, enabling them to operate with higher efficiency and integrity, save time, more easily manage their finances, and more.
“We don’t use the word revolutionary lightly, but that’s what we believe these new tools really represent for our users at Symphonic,” said Jorge Brea, CEO at Symphonic. “These tools are built on unique approaches to solving common music industry problems that unlock powerful new abilities and make them more accessible to everyone. This highlights our continued mission to enable independent artists and labels to bring their music and message to the market, while being able to utilize the most state-of-the-art tools the music industry has to offer.”
Starting with Symphonic’s patented Transfer Track, this tool allows clients to transfer their existing music catalog to Symphonic using just the link to their artist page on Spotify. This enables quick and efficient distributor switching for music labels, reducing the time and effort associated with music metadata re-entry and significantly lowering the barriers to change. TransferTrack also preserves playlist placements and stream history, consolidates catalogs for independent artists, maintains the consistency and integrity of metadata, including for re-releases, and consolidates analytics. All combined, Transfer Track enables clients to have one single platform for monitoring and strategic planning for their music.
Symphonic’s new Recoupments tool streamlines financial recoupments across various scenarios, serving the needs of artists, labels, and production teams. The tool caters to a variety of financial arrangements in which expenses or advances need to be recouped. Sypmohonic’s Recoupments feature walks users through these often complicated scenarios, demystifying the process with no need for labor-intensive manual calculations to determine artist balances and payouts. The interface clearly defines who will pay back an expense and for what release. Automating the recoupment processes allow artists and labels to focus more on creativity and production instead of financial administration.
SplitShare offers unparalleled transparency and control in the management of royalty splits, empowering music creators and rights holders with tools that go well beyond a simple Excel spreadsheet. SplitShare offers the ability to provide detailed visibility of royalty percentages to collaborators, and is designed to streamline the royalty distribution process, making it more transparent and efficient for all parties involved. Through the tool, collaborators have access to their own, free Symphonic account where they can see analytics data to monitor performance of the music and independently verify that their royalties reflect the agreed-upon track percentages. This eliminates the need for distributing and maintaining complex spreadsheets. All parties also have free and easy access to royalty information via their Symphonic account, reducing confusion and the need for countless emails or phone calls.
Lastly, Symphonic has made new updates to their Marketing Drivers process, better aligning the collection of clients’ marketing and promotional details with the initial set-up of their releases in the Symphonic MS. The unique story, paired with the artists’ plans for digital advertising, touring, social campaigns, videos, and the like, help Symphonic’s Marketing team seek out features and editorial playlisting for releases by creating a meaningful and impactful “Elevator Pitch.” And now, clients only have to enter this information once for each release. These tactics and spotlights become critical differentiators for their music, rather than an afterthought.
Symphonic’s newly announced tools join their already game-changing set of features available to clients, including streaming and user-generated content (UGC) analytics, catalog management, video distribution, fingerprinting services, YouTube Rights and content ID management, neighbouring rights, marketing, royalty advances, physical distribution, sync licensing, mixing and mastering, and more. In addition, users can take advantage of Symphonic’s Spotify Discovery Mode tool, which in their year-long beta test, saw a 235% lift in radio and autoplay streams for enrolled tracks.
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THE HEADLINES
Universal Music Group and Spotify strike new multi-year agreement (see News)
What's the strategy behind Universal's Downtown purchase, and why are some famous indie labels so opposed to it? (see Comment)
How random, really, is Spotify’s shuffle feature? (see Features)
BRIT Awards 2025 nominations revealed (see News)
US market-share 2024: Will the status quo continue to shift in 2025? (see Reports)
Spotify's Sulinna Ong: The playlist power broker who makes or breaks new artists (see Features)
Ticket inflation is getting worse, so where does all the money go? (see Features)
What the songs with a billion streams on Spotify tell us about music taste today (see Features)
What Spotify took from us by giving us everything (see Features)
Luminate 2024 year-end music report: Global audio streaming grows 14%, driven by ex-US markets (see Reports)
Labour’s AI plan could be good for British people – except the creatives (see Opinion)
BPI: AI proposals risk 'destroying the UK's status as a creative superpower' (see News)
Australia: Just six homegrown singles and three albums made the 2024 Top 100 (see International)
Chartmetric’s Year in Music: Music data milestone highlights for 2024 (see Reports)