Revelator Launches the First Digital Wallet App for Artists and Music Makers; Moves Entertainment Industry toward Instant Royalty Payments
Revelator Leverages Smart Contracts Technology to Enable Real-time Royalty Distribution. Helping Artists, Publishers and Rights Owners Maximize and Distribute Earnings.
JERUSALEM, May 22, 2019 /PRNewswire/ -- Revelator, a leader in multi-territorial rights administration, launches the music industry's first Artist Wallet, a mobile copyright application powered by smart contracts technology.
With Artist Wallet, Revelator enables faster, more efficient payment advances to artists and music makers, by turning future receivables into instant royalty payments. When a song is streamed online or played on the radio, rights holders are notified directly on their mobile device, and can safely access and cash out their royalties in the Wallet whenever they want.
The smart contract architecture is designed to enable accurate real-time splits of rights holder's royalty positions, providing enhanced visibility for clearance and settlement of royalty transactions. Payments are automatically distributed to all the stakeholders at the same time.
Slow, delayed and inaccurate distribution of royalty payments have long afflicted the entertainment industry, especially songwriters, recording artists, producers, record labels, and managers. Today's royalty system is notoriously inefficient, and attribution along the value chain is mostly manual.
According to Revelator CEO Bruno Guez, the royalties space is ripe for disruption.
"Recording artists as well as publishers have the unique struggle of income disparity and lack of transparency," Guez said. "Our job as a global copyright platform is to help modernize the costly and time-consuming business processes in entertainment rights and royalties. This will ultimately ensure that music makers have quick, efficient, and secure access to their earnings, whenever and wherever they need them." - Bruno Guez, CEO Revelator
The underlying infrastructure is powered by Revelator Pro, a cloud-native full-stack copyright administration platform serving more than 90,000 rights holders in over 25 countries.
In an industry-first partnership, Revelator, BMAT and Teosto, a PRO from Finland, are working to advance the way performance royalties are paid by introducing near real time monitoring and processing of radio performance data.
"We are pioneering the way the performance royalties are paid, where our authors and publishers would get money in a matter of minutes, after a song was played on a radio, directly to a digital Wallet. At Teosto, we continue to focus on innovation and new ways of thinking in order to provide premium class music rights management services for our members." - said Ano Sirppiniemi, CDO of Teosto.
In addition to instant payments, the Artist Wallet enables digital asset registration, splits and contract management, transparent royalty reporting, and access to a network of applications designed to transform the speed of business transactions. Revelator will demo its end-to-end Wallet solution at MIDEM 2019 in Cannes.
About Revelator
Revelator was founded in 2012 by music industry veteran Bruno Guez. Backed by a team of seasoned music industry and software development professionals, Revelator is a leading provider of copyright and data services for today's digital music business.
Revelator's cloud-native digital asset platform addresses the challenges of aggregating, processing, reporting and analyzing large volumes of data, and solves the problems of transparency in royalty distributions to copyright owners and creators across IP verticals. Revelator's industry-leading end-to-end solutions, help enterprises generate more value from their data while enabling them to share access to data with rights owners in unprecedented transparent, and efficient ways in easy-to-use web and mobile applications.
Revelator's suite of APIs power copyright businesses of all sizes from distributors to record labels, music publishers & collective rights organizations. To learn more, please visit www.revelator.com and follow Revelator on Twitter at @GetRevelator.
About BMAT
BMAT started in 2005 focus around music monitoring services and built a service that could track any public communication of music. The company has grown to service more than 100 Collective Management Organizations and over 2 thousand Record labels and publishers. Today BMAT monitoring platform delivers 92 million identifications monthly and overviews 230M digital transactions hourly.
About TEOSTO
Teosto is a non-profit organisation founded in 1928 by composers and music publishers, to administer and protect their rights. At Teosto, decision-making power lies with ordinary members – that is, music authors.
Teosto represents more than 33,000 Finnish and almost three million foreign composers, lyricists, arrangers and music publishers. Teosto collects and distributes royalties to the music authors we represent, for the public performance and mechanical reproduction of their music in Finland.
Press Contact:
Bruno Guez
[email protected]
Sophia Babkov
[email protected]
+972 52-7009592
SOURCE Revelator
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