The Process Monetization Song Royalties dashboard provides a report of accrued/unpaid song royalties that have not yet been paid to the copyright owners, along with a detail list of the associated monetization royalty line items that make up the accrued amount.
As musical works meet payout thresholds, this dashboard may be used to document processing of the royalties. This is typically done after a song has accrued enough of monetization royalties to meet your company’s royalty disbursement threshold.
How it works:
As monetization royalties are received, they should be imported (or manually added) using the Monetization Work Summary Data screen. This dashboard uses the imported data to help you to keep track of the accumulated royalties for each musical work. Once your royalty disbursement threshold has been met for a musical work, and you’ve decided to distribute the accrued monetization royalties to the copyright owners, the dashboard may be used to update the affected royalty detail records with a date that the royalty was paid to the copyright owners. Updating the Date Royalty Processed removes the line item from the report and detail list.
Process Monetization Song Royalties is accessed via the Process Song Royalties drop-down list that is found in the Royalties module.
Review the Monetization Escrowed Song Royalties Report (left side of screen) and determine which songs you will be including in your royalty payout.
For each song identified, type song title on the SEARCH bar and press the search icon to restrict the list to that song.
Select the Monetization Escrowed Song Royalties detail records (right side of the screen) that will be included in your payout a, then press Update selected. (In this example, we are selecting all of the records displayed.)
A pop up box will be displayed.
- Select the Date Royalty Processed field then enter the date the royalties will be paid to the royalty recipient. Entering the Date Royalty Processed will remove the song from the Monetization Escrowed Song Royalties Report and detail list.
- Optionally, you may also associate the selected song royalties to a single License if you would like CODA to initialize “suggested” royalty split amounts for the copyright owners of the song. To do this, select the CODA License # field then add a new license following the prompts (or associate to an existing license).
- When finished click on Update # records [The # placeholder will reference how many records you are updating simultaneously.]
- The selected items will be updated and the Process Monetization Song Royalties dashboard will be redisplayed showing the updates.
When finished entering the Date Royalty Processed, and optionally the CODA License #, press the X icon in the search bar to remove the search parameter and re-display the report and detail list.
Repeat the process as needed to process all songs that you will include in your royalty payout.