The digital revolution is creating massive headaches for media companies regarding talent payments, royalties, and residuals. Huge volumes of increasingly complex deals, each with different payment terms, span every conceivable platform. And, it’s getting worse every day.
It’s got to the point where it is no longer humanly possible, even for a medium-sized media company, to ensure timely and accurate payments and compliance with all contractual terms. RSG Media aims to help companies manage these tasks automatically with its RightsLogic Distribution Finance technology, which is being showcased at IBC.
By integrating financial accounting features with its business rights management, programme planning and scheduling, consumer products licensing, and reporting modules, RightsLogic can now help managers project content-related profits and make decisions that optimise their company’s bottom line.
Combined with RightsLogic’s Cross Platform Reporting system, which ingests information from all linear, on demand, and digital platforms automatically, RightsLogic can now track usage and calculate receivables and payments. And, it helps ensure SOX and other regulatory compliance, which makes audits and month end close much easier to manage for finance teams.
Most importantly, it ensures that different business silos share the right information seamlessly.
There are many consumers of financial information – from the obvious (executives, finance, business and legal affairs, and sales) to the less obvious, such as programming – that strive to ensure that every airing or play is profitable.
CEO Mukesh Sehgal said the company helps its clients to understand revenue, royalties, and residuals by programme, talent, and media type, all at a glance.
“Not only do they get more accurate financial reporting, they also make more timely payments to talent, which is huge in today’s talent-driven industry,” he added.