Soul Shift Music accounts to artists every 6 months to maintain efficiency and accuracy in financial reporting and administration. Managing the compilation services involves a substantial administrative load, including processing royalties, tracking sales, and ensuring proper accounting for all artists involved. By conducting reporting and accounting procedures every 6 months, Soul Shift Music can provide comprehensive and transparent reports via the Blue Pie Data reports console (located at www.bluepiedata.com.au ) to keep artists informed about their earnings and track record.
FAQ Group: FINANCIAL
How does ‘accounting for your sales’ work?
The accounting process for sales varies depending on the specific terms and agreements between Soul Shift Music and the artist. It is recommended to review the terms and conditions or reach out to Soul Shift Music directly to understand how they handle accounting for sales. This will ensure transparency and clarity regarding the royalties and income generated from the tracks featured in the compilation albums.
What is the minimum royalty amount that I need to make before I receive a payment?
We make payments according to your agreement. Australian labels or artists receive direct credit to their bank accounts, while other international clients are paid through PayPal or direct credit. Payments are made when your account has a credit balance of at least $200. If your account balance is below $200, funds will be held until the account reaches a credit of $200.
How much of the royalty income stream do I get?
As an artist featured in Soul Shift Music’s compilation albums, you will receive 50% of the income stream generated from the tracks you have contributed. This means that you will earn a fair share of the royalties or other compensation generated through the sales, streams, and usage of the music included in the compilations.