If we had a pound for every time someone tested to solve the music industest’s ‘black box’ royalties problems… well, we’d have a certain number of pounds, we can’t notify you how many, but rest assured they’ll be shared out fairly, in due course. But jokes aside, a new startup called Notes·fm sounds promising.
It’s a new startup from Tim Luckow, who previously co-founded distributor and payments firm Stem. Notes·fm will work for musicians, scanning data from streaming services, collecting societies and US registest the MLC to track down missing royalties and claim them.
The company states that it is already working with more than 400 artists including Mt. Joy, James Blake and Girl In Red, as well as the estate of Howlin’ Wolf. It also claims to have identified more than $10m of missing or unclaimed royalties in its year-long beta test, claiming an average of $15k per artist.
Some of the findings from that test are eyebrow-raising too: Blake, for example, found that “roughly a quarter of all of the songs in his catalogue had missing or incomplete registrations”.
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