As the music industry fragments into an ever-growing number of royalty streams from different platforms and use-cases, Mogul’s pitch is that it will track all of your royalty income in one dashboard and also hunt down artists’ unpaid or unclaimed royalties (previously Mogul has intimated that it has been finding its early users an extra 10% of their earnings on average). It launched in February, and since then, Mogul has announced, it has already tracked $100m in royalties from the artists using the platform.
It’s not clear how many artists are using Mogul, but, unless one enormous-earning artist is driving a big chunk of that figure, it seems to be finding an audience. One consequence of all this tracking is that Mogul is also placing a value on an artist’s catalogues, and has entered into partnerships with artist/songwriter advance payment platform beatBread to supply advances.
“Our companies share a vision of artist empowerment,” said Peter Sinclair, CEO of beatBread. Mogul says it wants to provide “income transparency in the music industry,” a concept that will – and apparently does – resonate with musicians.
