Photo Credit: Kenny Eliason
Tipalti’s global payment automation system and accounts payable software make it easier than ever for indie distributors like Symphonic to pay their artists accurately and on time.
The following was created in collaboration with Tipalti, a company DMN is proud to be partnering with.
Symphonic is a Tampa-based digital music distribution service with footprints across major music markets in the United States and around the world. Symphonic says its commitment to transparency and the independent spirit are integral to its success. Helping to drive that success, Tipalti ensures Symphonic artists are paid on time, whether domestic or international.
Symphonic distributes its artists’ music to streaming platforms as well as user-generated content platforms like YouTube and TikTok, collecting performance royalties via SoundExchange—all of which flows through Tipalti’s payment automation platform.
“Tipalti is helpful to ensure compliance,” Symphonic told Digital Music News. “We don’t generally consider Tipalti for advances but require that individuals set up their account with us with an agreement, then pass through Tipalti as a requirement prior to any payment.”
Symphonic’s internal Know-Your-Customer (KYC) process operates alongside Tipalti to reduce streaming fraud for the distributor. Streaming fraud has become commonplace and is one of the reasons Spotify has adjusted its royalty scheme.
Symphonic says it monitors activity and works closely with its DSP partners to keep its digital distribution services free from fraud like stream manipulation. Bots, click farms, and imposters impact all artists—including independent artists and those signed to labels.
A diluted royalty pool from stream manipulation means reduced revenue for artists for their legitimate streams. Symphonic’s Trust & Safety team handles client onboarding, and once set up with Symphonic, clients are set up with Tipalti to receive their royalty advance and payments.
With Tipalti, Symphonic can support artists in over 120 countries and 196 currencies, giving their team an international competitive advantage. Symphonic knows that with Tipalti, their artists will get paid accurately and on time every time.
Tipalti streamlines Symphonic’s entire payment management process, from artist onboarding to invoice processing, tax and regulatory compliance, remittance, payment issue resolution, artist reporting, and more. As part of the onboarding process, Symphonic artists submit their payment and tax details, which are then reviewed and approved by Tipalti, streamlining the payment experience even more.
Tipalti helps improve the artist experience for Symphonic in many ways. The ability to send payments in artists’ local currency is a game changer. Tipalti’s FX (Foreign Exchange) and currency management features ensure funds arrive in the artist’s local currency, removing the need to convert payments from US dollars. Tipalti also offers the additional convenience of ready-to-use funds when receiving payments.
Ready to get started with Symphonic?
Symphonic offers a Symphonic Starter plan that allows artists to keep 100% of the royalties from their music. Most companies take a small fee from royalties once they start coming in, and the start plan allows for free royalty splits so that all collaborators, featured artists, or anyone else entitled to a share of the song gets paid from the generated royalties.
Best of all, Symphonic’s partnership with Tipalti means it doesn’t matter where your collaborators are located around the globe—they can get paid. Learn more about Tipalti here.
