Nashville-based independent label services company, CmdShft, is launching a distribution and financial management platform. CmdShft’s platform provides clients with the ability to facilitate all financial requirements without the use of third-party intermediaries. The propriety technology not only splits master and composition royalties amongst shareholders, but it also possesses the unique capability of automating the recoupment of expenses an artist or label incurs. Expenses are entered into the system by order of importance, and the percentage rate at which the advance is paid back is set. Additional royalties from prior releases may also be applied to speed up recoupment.
“For decades, rights holders have been required to contact the label or release owner to obtain financial information. We wanted to provide true accounting solutions to better facilitate artist and label incurred expenses. The advent of payment splitting helped collaborators get paid, but also presented a new problem –– WHEN should everyone get paid? Automating expense recoupment solves this antiquated system, removes a huge burden from labels and rights owners, and brings absolute transparency to all collaborators involved,” says Sonny Findley, co-founder of CmdShft.
CmdShft was launched by Findley and Jarrod Cooper to offer clients with distribution, marketing, management and tech solutions. Clients also have access to a 1,500-square-foot recording studio for content creation purposes.
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