Hyperwallet shakes up music royalty space with superior artist payout solution.
Hyperwallet, a leading global payouts provider to millions of independent workers, continues to gain ground in the music royalty space after announcing its entry into the market late last year. Partnering with USA Media Rights, a music and media rights organization which provides a broad range of music business services, Hyperwallet has crafted an artist payout solution that it believes is demonstrably superior to existing royalty payment processes.
“When we looked at the royalty payment landscape in 2016, it was clear to us that it was ripe for disruption,” explained Brent Warrington, Hyperwallet’s CEO. “With the emergence of the gig economy and the soaring popularity in independent work, there’s enormous demand for better outbound payment solutions. Payees don’t want to wait on a check in the mail; they want their earnings quickly, and they want to be able to choose how they’re delivered.” Warrington added: “That’s the sort of innovation we’re trying to bring to this space.”
Hyperwallet’s payout solution targets common pain points for both royalty recipients and music and media organizations:
- Simple Onboarding
Many organizations require extensive identifying documentation before they will distribute a royalty payment. Hyperwallet focuses on implementing smart tools and processes in thoughtful ways to connect royalty recipients with their earnings faster.
- Payment Notifications
Estimates suggest that anywhere from 20 to 50 percent of royalty payments never reach their intended recipient. With Hyperwallet, artists can receive push or email notifications whenever they receive a payment, even on long inactive royalty accounts.
- Instant Fund Access
There’s very little consistency in royalty distribution frequency across the industry, and payment thresholds can further delay the delivery of earnings. With Hyperwallet’s online portal, organizations can credit accounts in near real-time and allow artists to cash out at their convenience.
- More Control
With Hyperwallet, companies can provide a range of payout methods to 200+ countries and territories in up to 170 settlement currencies, and royalty recipients can manage their funds online or through custom-branded mobile apps.
- Greater Transparency
Many royalty payments come without a granular statement, and artists have little insight into the delivery delays or fees they’ve incurred. Hyperwallet provides itemized statements to help recipients better forecast their earnings, and payment tracking helps better predict the timing of a payment.
To learn more about Hyperwallet’s music royalty solution and special pricing for A2IM members, please contact [email protected].
Hyperwallet’s payout platform provides growing organizations with a frictionless, transparent, and reliable way to manage payments and enhance the payee’s experience almost anywhere in the world. Trusted by enterprise, ecommerce, and on-demand platforms, Hyperwallet makes it easy to pay up to 7 billion people in a singular payment environment. Put your payees in control with enhanced financial management tools, integrated payment tracking technology, and user-friendly compliance and identity verification. Hyperwallet has offices in San Francisco, Austin, London, Sydney, and Vancouver. You can learn more at http://hyperwallet.com.