Ingrooves launches new royalty tech for indie acts & labels
Ingrooves Music Group, which set up an Australian office last year, has come up with a suite of royalty accounting solutions for the indie sector.
Register Splits offers small labels a simple way to automatically split income, while Register Pro is a flexible royalty service for larger labels with more complex deals.
They are both product extensions of Ingrooves’ Register financial portal.
The third solution, Register Full-Service, enables labels to utilize Ingrooves’ team of royalty accounting professionals to custom tailor a solution to each label’s requirements.
“Our labels have been asking for accounting tools to help them with a wide variety of their needs,” Bob Roback said, CEO of Ingrooves Music Group.
“Together this suite of services is the kind of flexible solution that can help literally any one of our clients, no matter what size or level of complexity of their business.”
Ingrooves supports payments to over 100 countries in a variety of currencies.
Expert royalty support, including US tax support to labels and their payees (i.e., 1099 and 1042 reporting) is accessible at every level of the service.
These offerings are the latest in a series of proprietary solutions developed to empower labels and artists to build their businesses through innovative insights and tools.
Last year, Ingrooves – which is now fully owned by Universal Music Group – became the first music distribution company to be awarded a US utility patent for its invention of proprietary marketing methods, leveraging artificial intelligence and machine learning.
These detect significant shifts in audience engagement and create marketing campaigns that connect individual artists with audiences who have a high likelihood of becoming long-term fans.
At the time, Roback explained that the significance of the patent was that it solved the problem of how to market in a world of 60 million tracks, where the relationship with consumers and fans was controlled by third-party DSPs.
It provided a solution that moved the decision making of artists and labels to better choices by giving them a greater amount of data.
Roback has been pushing Ingrooves to be more tech-savvy since joined as CEO in 2015 from guitar manufacturer Fender where he served as president.
Last May Roback set up an Australian and New Zealand office under former Spotify executive Nina Rabe-Cairns while also opening in Brazil, Japan and South Korea.