Independent label global digital rights agency Merlin has cut its administration fees as a percentage of revenue for the sixth time in 5 years. The move comes days after it announced a new multi-year indie licensing deal with Spotify.
Merlin, the global digital rights agency for many top independent labels and distributors today announced a 25% reduction in Administration fees to members from 2% to 1.5% of revenues.
Merlin’s 800 label and distributor members represent tens of thousands of independent labels in 51 countries. Prominent members include Secretly Canadian, INgrooves, Because, Redeye Worldwide, Domino, Kontor Records, Kobalt Music Recordings, [PIAS], Beggars Group and Eleven Seven Music.
$300 Million To Indie labels In Last 12 Months
This marks the sixth time since 2102 that Merlin's administration fees have been reduced, a drop of almost 80%. This period (2012-2017) has also seen a more than eightfold increase in Merlin’s royalty distributions to members, from $36 million in 2012 to $300 million in the past 12 months.
On the back of our new agreement with Spotify, I am proud to announce yet another reduction in our Administration Fee," Charles Caldas, CEO, Merlin said. Together it means Merlin continues to deliver maximum value to our members’ digital business, and highlights our ongoing commitment to provide ever greater efficiencies."
New Director Of Finance
The fee cuts also coincides with an expansion of the Merlin team. Helen Alexander has joined as Finance Director from Warner Bros, where she was Director of Operations and Business Development.
This story appears courtesy of HypeBot.
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