Top Music Companies Streamline Global Royalty Payments With Tipalti
Automated royalty payments have become crucial for music industry businesses managing large-scale artist payouts. Here's how leading music companies are using Tipalti to streamline their financial operations.
Managing music royalties and payments
Tipalti offers comprehensive payout solutions with tax compliance coverage in 196 countries, making it ideal for cross-border transactions. Here's how major music companies are benefiting:
Symphonic Distribution:
- Manages royalty payouts for 100,000+ clients representing 500,000 artists
- Automated monthly payments through SplitShare service
- Streamlined tax data collection
- Eliminated manual processes
Create Music Group:
- Reduced payment processing from days to one hour
- Decreased payment workload by 36 days annually
- Custom iFrame for artist onboarding
- Successfully manages 25,000+ artist payouts
- Integrated with NetSuite ERP
Spitfire Audio:
- Reduced 6-week manual payout process to 30 minutes
- Automated 1,500+ global payouts
- Eliminated manual data entry and errors
- Extended use to accounts payable and procurement
Thematic:
- Implemented self-service portal for artists
- Streamlined tax and bank data collection
- Created centralized dashboard via API integration
- Offers flexible payment methods
Key Benefits for Music Companies:
- Automated manual tasks
- Global tax compliance
- Streamlined worldwide payouts
- Enhanced security
- Improved artist relationships
- Reduced operational bottlenecks
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These implementations demonstrate how automation can transform financial operations in the music industry, enabling companies to focus on growth while maintaining efficient, compliant payment systems.