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Global shifts such as digital technology and the growing access to the Internet and mobile devices are compelling music companies to embrace new business strategies and operating models
The needs of the hour are new approaches to content development, distribution, operations, technology and monetization. The way forward is to build Centers of Excellence (CoE) to reduce costs and build better efficiencies
Royalty management becomes highly complex because of diverse music formats and revenue channels, which result in revenue leakage, inaccuracy and operational silos
A Royalty Management CoE combines the key strength of a music company (deep understanding of intellectual property management) and that of a process company (technology infrastructure with industry recognized platforms)
Disruptive changes are visible in every aspect of the music ecosystem. At the root of these changes are the convergence of digital technology, and the growing and improving access to the Internet and mobile devices.
These global shifts are compelling music companies to embrace new business strategies and operating models, and sharpen their capabilities. Until recently, the recipe for success was a mix of multiple revenue streams, scarce distribution outlets and distinct exploitation windows where content could be made available for a very short period so as to attract maximum traffic, and then changed or withdrawn. The needs of the hour are new approaches to content development, distribution, operations, technology and monetization. And all these changes call for alignment of a music company’s strategies, capabilities and operating models to the new market forces.
In this paper, we explore how a Royalty Management Center of Excellence can help music companies reduce costs and build better efficiencies.