LOS ANGELES, October 26, 2021 / PRNewswire / – Leftbrain, a technology and business management startup, today launched the Royalty Recovery Program â¢ to help musicians recover black box royalties.
âAt the onset of the pandemic, many of our customers asked us to review the royalties they suspected not to be charged on hit songs,â said the co-founder and CEO of Leftbrain. Nicolas judd.
The company responded by developing technology to identify and correct errors in metadata in order to recover missing royalties. In a brief test of the program, Leftbrain recovered more than $ 500,000 in unpaid royalties for a small group of customers.
âMy team at Leftbrain taught me about metadata and the real possibility of finding missing royalties in my existing catalog,â says Doja Cat. “I asked them to do a metadata audit to see what they could find. It was a good decision. They found a lot of things.”
Leftbrain discovered 39 metadata errors in Doja Cat’s catalog and recovered them $ 200,000 in unpaid royalties.
Leftbrain has found that on average 45% of a musician’s catalog contains metadata that is either incorrect or poorly recorded. This means that music creators lose hundreds of millions of dollars every year in unpaid royalties. And after a few years, those black box royalties are lost forever.
“What we are doing has the potential to solve one of the most important and enduring problems that plague the music industry for decades,” said Judd. “Our program is less expensive and more comprehensive than a traditional royalty audit. More importantly, it resolves underlying issues at the source.”
In addition to the technology he built, Leftbrain has assembled a team of royalty experts with experience working for some of the industry’s leading music publishers and labels.
“Our team is keen to address inefficient methods of remunerating music creators by reconciling metadata with royalty sources. If even one source has a discrepancy, music creators leave money on the table,” says AndrÃ© Ullah, Manager, Fees and Services Audit.
âAs a music creator myself, I’m determined to make sure all creators collect their full value! “
Left brain recovered $ 135,000 for electronic dance music producer Ookay after identifying 25 errors in its metadata.
âWithout Leftbrain’s team of royalty and technology experts, I would have lost six-figure royalties,â Ookay said. “Music creators should be paid what they have rightfully earned. Leftbrain makes that happen.”
The Royalty Recovery Program is available to both customers who use Leftbrain for business management and to external customers.
Leftbrain is the only business management company developing technology to empower artists and their teams to make informed decisions. Its Entertainer Mobile App â¢ unifies and simplifies artists’ finances so they can focus on their art while building generational wealth. Leftbrain was founded in 2019 and has offices in Los Angeles and Chicago. He sees an average NPS of 100 and has multiplied his customer list by 5 in 2020. For more information, visit www.useleftbrain.com
SOURCE Left brain