Whetstone

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Information on Streaming and Sales
#1
Now that we've come to the end of a quarter (even though the album was released in the middle)  I wanted to mention when you can expect to see information about sales or streaming. The estimated dates for the first royalty postings are: November 10th- November 15th. This will cover sales from the date of the album's release through September 30th. 2016.  That will start the process of payouts, assuming any Smile
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#2
When you say payouts, will that be seen through our PROs or some other source?
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#3
Hi Shannon,

This has nothing to do with PRO's. These are mechanical royalties - actual sales/streams for which Secondfork Records receives income from the distributor, and which are split according to the deductions and expenses we talked about. Songwriter mechanical royalties for example are a deduction that will be taken out and paid directly to the writers by Secondfork Records, artists get their cut from Secondfork Records, etc.

Performance Royalties from a PRO to a writer are a different thing. They aren't tied to sales but to "performances" such as from You tube streaming. When our how you receive royalties from your PRO is up to the PRO.

I suspect you might be get confused, so I'll answer a point in advance about streaming: There should be income from streaming that comes to Secondfork Recording. But though that money will be split in a similar way for the artists, there are no deductions that go to the writer for streaming like there are for mechanical royalties. Instead, what happens is that the writer's chunk of money goes straight from the streaming outlet (like Youtube) to the PRO's and then ultimately whatever appropriate amount goes to the writer according to the PRO's formulas. It doesn't go through Secondfork Records like mechanical Royalties do. Its different because the laws regarding how royalties are paid to writers from streaming are different.

A final thing to understand - what I will publish first in November are the raw sales numbers. It will take a little bit of time afterwards for us to calculate the proper splits and then distribute them, including anything held back as reserves (if any).
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#4
Thank you Greg for the Update.
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#5
Thanks, Greg. I hope the numbers will be an encouragement to you; you deserve it for taking a chance on us! Smile
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