BMG has announced the latest change to the way it pays royalties out, with songwriters set to benefit. Well, a specific group of songwriters, anyway, in a specific country.
The company is going to “speed the payment of mechanical royalties to its US publishing clients when their songs are used on recordings released by BMG’s US artists”.
Speed up by how much? BMG said it will pay these mechanicals in the same quarter, rather than 3-6 months later as in the past. The company added that this is the result of bringing its publishing and recordings data into the same cloud-based royalties system.
“This is a practical benefit of BMG’s decision to offer music publishing and recordings off the same integrated platform,” said chief operating officer Sebastian Hentzschel.
“It means that if two songwriters contribute to a BMG recording and one is signed to BMG and the other to another company, the BMG writer will get paid sooner.”