Royalty Checks Are On The Way
This week royalty payments will be processed for all our content partners. These payments will include royalties owed for both the 3rd and the 4th quarters of 2021. We also have a few changes to share.
WHY TWO QUARTERS?
Between the severe sales slump during COVID and our efforts to revamp how royalty data is processed, the date for cutting Q3 royalty payments came and went. Ultimately the decision was made to postpone the Q3 payments and lump them together with Q4. We work hard to maintain the trust and confidence of our content partners. We apologize if this delay in Q3 payments caused any confusion.
NEW ROYALTY PAYMENT POLICY
Effective January 1, 2022 Ion Concert Media has instituted a new policy regarding the payment of royalties. As before, royalty payments will be made two months after the end of a calendar quarter, on the 15th day of that month For example, Q4 royalties will be sent out on February 15, which is in the second month after the end of that quarter.
The new policy says that no royalty checks will be cut for sums less than ten dollars ($10.00 USD). If your balance due is less than $10 at the end of a quarter then that balance will roll over to the following quarter, and continue to roll over to subsequent quarters until the total due is equal to or greater than $10.
You will always be able to see your royalties due and when each royalty charge was paid on your Vendor Portal page. See the next section below for details.
CONTENT PARTNER VENDOR PORTAL
When we launched our new website last July we included Vendor Portal pages for each of our content partners. Early this week emails will be going out to all currently active partners with details about how to access your portal, your current royalty balance, and other helpful information. Please watch for that email to arrive and let us know if you have any questions.