Early this year, Music Ally reported on Israeli company Revelator’s plans to launch a rights-admin and payments spin-off called Original Works, complete with an ‘artist wallet’ app to track payments, register copyrights and create ‘smart contracts’ to split royalties between musical collaborators.
The app launched in May, with Revelator announcing plans to test it with audio-fingerprinting firm Bmat and Finnish collecting society Teosto. That pilot has now been completed: Revelator CEO Bruno Guez told Music Ally that it had involved paying 19 songwriters and publishers “directly to their wallets” within two hours of their songs – three were tracked as part of the pilot – being played on the radio.
So, this is what the company describes as “near real-time monitoring” of radio performance royalties. Blockchain technology is also being used here, with payments made in Original Works tokens, which Revelator says would be convertible to ‘fiat’ (traditional) currencies. ‘Would be’? Yes: “The pilot was done with simulating the payments in a test blockchain environment and no real money was distributed during testing.” Guez told Music Ally that Revelator is now working with two other collecting societies “in more commercial / production engagements.”