Here at Symphonic, we’re excited to finally introduce SplitPay into the SymphonicMS! This feature enables clients to automatically send artists and track participants their share of royalties each month, directly in the SymphonicMS. Here’s the rundown…
Introducing SplitPay in SymphonicMS
What is it?
SplitPay keeps all of your royalties, revenue splits, and payments in one centralized system for easy record keeping.
Before this feature, Symphonic clients would have to payout anyone they owed royalties to manually. This meant they had to request their own payment from Symphonic, wait to receive the payment, and then manually send out royalties to everyone they owed a share to. This also meant our clients had to keep track of payment and tax information for everyone they were paying
With the new SplitPay feature, all this is easier than ever.
Our clients don’t ever have to touch the money they owe to other parties, nor do they have to hold payment and tax details themselves. Everything is taken care of in our system.
How does it work?
Don’t worry, it’s easy for a label to set up SplitPay for an artist or track participant.
- Clients with Owner or Admin permissions for an account just need to go into the Artist Statements page for the person they want to payout, add their revenue splits, click the Enable SplitPay button and fill out the enrollment form.
- From there, we email your payee instructions on how to get set up on their end. Once they’re set up, their royalty share will be automatically transferred to them each month going forward.
Easy as that.
⚡️Want to learn more? // Click here for more details on how to use SplitPay.
⚡️Not sure what to do after you’ve been enrolled? // Check this out to learn how to accept SplitPay royalties.