Reprtoir is what we commonly call a Musictech solutions; meaning we use technologic innovation to answer a need we spot in the music industry. This field is growing even quickier today, considering the current stage of the world. To put it in a simple way, music has seen its digital transformation accelerating for a year now. And you, as a record label and / or music publisher, might have great opportunities to take advantage of. Let’s get an insight.
How to benefit from the digital transformation in the music industry?
Getting revenue from a music creation today has to go through digital means. Even if music streaming is being revised today (especially in the UK, we started taking a look at what happened and will circle back on that), artists have taken the curve and started monetizing on their data online. If we’re just taking a look at how they’re using their own fanbase and connection with it to get precise data and insights on how to engage them even more effectively, there is a growing potential there.
We also talked about the potential residing in Social Media and network platforms to monetize and capitalize on back catalogs by developing marketing strategies, developing a better understanding of the audience. All of these strategies to take advantage of innovation and innovative platforms to capitalize on music assets are benefitting from a growing interest, but it is far from being the only trend you should keep an eye on.
Why invest in music royalties?
Indeed, we have been seeing many new ways to capitalize on music assets, including the flood of catalog buyouts from Hipgnosis and their rivals. We’ve talked about how profitable these sales were, and even about Hipgnosis strategy a few months back.
But you, as a record label and music publisher, without a major behind you, finding new ways to make the most out of your music assets might rely on financial markets. Because yes, it’s not only for major artists, record labels and publishing companies.
Picture the possibility to offer parts of your future royalties, get fundings right away in exchange, and get to work on the next steps right away. In addition, this would mean that fans could take part in the creations you're releasing with your artists, meaning that it would add to your engagement strategy as well. Well, the company ANote does just that: a marketplace democratizing funding for music professionals and creators through primary and secondary market offerings on music rights and royalties. Their main goal is simple: making investment opportunities flexible and accessible to smaller record labels and music publishers, through a more transparent approach to make the best decisions for their rights holders. And we can only agree with that vision.
Relying on Musictech solutions for your music assets
Capitalizing is not the only matter at hand when it comes to managing music rights. On that front, musictech has some parts to play. We’ve been talking about the potential and expectations of the label services sector, and the number of solutions is rising. Whether we’re talking about sample sales (just like the library Splice Sounds for example) or distribution (Amuse, DistroKid… Services we are working to integrate in Reprtoir’s solutions), there are a lot of options to outsource parts of the work and optimize your time.
Reprtoir was built in that idea: optimizing, saving time and collaborating on administrative operations for music businesses. This is why we created Royalties Manager, helping you manage all expenses, fees, tracks, musical works and any kind of statements in one workspace. This software is designed to meet the needs of record labels and music publishers, to help them optimize their work on music rights which are getting more and more complex. Adapting strategies (with actors like ANote) and managing your business (with actors like Reprtoir) in accordance to the fully digital environment we are evolving in today.
