ERICSSON, Sweden (Hypebot) – Sony Music has recently developed an app which allows artists to view exactly what their daily earnings from streaming royalties are, marking a move towards the royalty transparency which so many artists have been hoping for.
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In what may be a real breakthrough for artists, Sony Music has developed an app that shows exactly what their daily streaming royalty earnings are. The app also includes information about how these earnings impact their label advances as well.
This is a first for a major label, since it makes earnings a lot more transparent than in the past. Artist royalty statements have always been viewed with some suspicion as labels have traditionally used a variety of accounting tricks to limit the royalties owed, but the new Sony app gives at least some hope that this position may change in the future.
Although the Sony real-time app is a revolution for a major label, it's not the first of its kind. Kobalt has offered these features to artists and songwriters for some time.
Other features include other key information in real time, such as streaming volume across all platforms, airplay data, profiles by age, gender and location of listeners, and a heat map of areas of the world where the artist is currently popular. It also offers insight to the artist's popularity on social networks as well, including Facebook, Twitter and Instagram.
The app is only available to Sony artists in Sweden (where the app was developed) at the moment, but is expected to be rolled out to Sony artists globally later in the year.