SplitShare Overview

Our SplitShare feature allows you to calculate royalty shares for your collaborators and enable automatic transfers to their own Symphonic account. The SplitShare menu has three pages:

  • Payees - This view is centered around artists and other collaborators. It allows you to invite individuals to set up their own Symphonic account to receive royalties, set splits for an individual payee, or view an individual’s artist earnings.
  • Track Splits - This view shows all tracks that are eligible for you to split with other collaborators.
  • Recoupments - This view allows you to set up recoupments to account for expenses that your account fronted before calculating splits for collaborators.

Payees
The Payees page has nudge cards at the top of the page to quickly filter on a set of collaborators that may require the same action:

splitshare_nudge_cards.png

 

  • Pending Invite - These payees have been sent an invite, but have not accepted it yet. Payees will not automatically receive royalties to their Symphonic account until they accept the invitation.
  • Expired Invite - These payees have been sent an invite, but it expired before it was accepted. These payees will not automatically receive their royalty splits to their Symphonic account. Click Resend to send the invitation again.
  • Unenrolled Payees - These payees do not have a Symphonic account. Click Invite next to these payees to invite them to create an account.
  • Payees with incomplete tracks - These payees are credited on at least one track without a split. If the split is not set, royalties for that track will not be factored into the next royalty calculation

The payees page can also be filtered and sorted. The filter options are:

  • Enrollment Status - Filter the Payees page by if a collaborator is:
    • Enrolled: The payee has a Symphonic account to receive royalties
    • Unenrolled: The payee does not have a Symphonic account and they have never received a SplitShare invitation.
    • Pending Invite: The payee has been sent an invite to create a Symphonic account, but the invite has not been accepted.
    • Expired Invite: The payee has been sent an invite to create a Symphonic account, but the invite expired before being accepted.
  • Track Status - Filter the Payees page by collaborators that have:
    • Complete Tracks: All tracks where the collaborator is credited have a split
    • Incomplete Tracks: There is at least one track where the collaborator has been credited that does not have split sets.

To search for an individual payee, enter their name and click Search.

Screenshot 2023-11-03 at 1.06.37 PM.png

 

Track Splits
This page allows you to set and update splits for tracks in your catalog.

You have the option to filter tracks by:

  • Artists - Enter artist in the search box and click Search. The page will show tracks where all artists entered appear on the track

split_share_filter.png

  • Split Status - Select if you want to view incomplete tracks that need splits or complete tracks that have already had their splits set.

single_artist_filter.png


The artist and split status filters can be used at the same time.

If you want to find a track or set of tracks by track name, ISRC, release name, or UPC, enter the value in the search box and click Search.

split_share_search.png


Recoupments
The recoupments page allows you to set up recoupments to earn back fronted expenses before collaborators are paid out. It can be used whether or not contributors are enrolled in SplitShare.

When you click the recoupment page, you will see a list of active recoupments on your account. Click an individual row to view progress or update an individual recoupment.

recoupments_menu.png

To create a new recoupment, click the New Recoupment button on the page. For more information on setting up and managing recoupments, visit our SplitShare Recoupments articles.

SplitShare and Taxes

As a client of Symphonic, you are responsible for collecting W9s, W8s, and any other tax-related documentation from your client. At the end of the year, Symphonic will send you a tax form (either a 1099-MISC or a 1042-S) for your account, but we will not send and administer these forms for your payees as it will be your responsibility to do so.

 

Was this article helpful?
2 out of 3 found this helpful
Have more questions? Submit a request

Comments

0 comments

Article is closed for comments.