As the year winds down, the music industry gears up for one of the busiest accounting seasons. For artists, labels, and publishers, December isn’t just about holiday playlists and festive vibes—it’s the perfect time to ensure your royalties are in order before the new year begins.
Reflect on the Year’s Performance
December is a great time to review how your royalties performed over the past year. From streaming and licensing to sales data, analyzing trends will help you see where you’ve excelled and where there’s room for growth. Whether a holiday hit took off or you saw unexpected spikes, this info will help you plan better for the new year.
Stay Tax-Ready with Organized Royalty Data
With tax season just around the corner, having accurate royalty statements is non-negotiable. Ensure all your royalty data is up-to-date, organized, and compliant with tax regulations. This minimizes headaches when filing time comes.
Settle Unpaid Royalties
Unpaid royalties can add up quickly. Take this month to go through your accounts and track down any outstanding payments. Even small discrepancies can add up over time, so it's worth checking to make sure everything is accounted for as the year ends.
Prepare for Holiday Streaming Spikes
December is prime time for holiday music, with streams often peaking around the holidays. Ensure your royalty tracking systems are equipped to handle the surge in activity. Accurate tracking helps ensure that you’re getting credit for every stream and making the most of this seasonal boost.
Start the New Year with a Clean Slate
The key to a successful year is starting with a solid foundation. Organize your royalty agreements, update payment information, and confirm licensing terms to ensure a smooth start in January.
The end of the year is the perfect time to review, reconcile, and prepare for what’s ahead. With the right royalty management practices in place, you’ll set yourself up for financial clarity and creative freedom in the new year. At Royalty Solutions Corp., we specialize in royalty accounting, reporting, and management, giving you the tools and support you need to thrive. Get a free quote today!