MACC
Media
Accounting
GmbH

Media Accounting for Record Companies

Running a record label is about more than just music: On top of all the admin stuff that comes with any business, the music business has its own bewildering set of licensing rights, royalty agreements, claims collection societies etc. This is where we come in. We take care of all of your accountancy administration work, e.g.:

• the often lengthy process from issuing invoices to complete accounting audits
• all contact with the relevant royalty collection organisations, both national and international, and other administrative bodies

With our Media Accountinge Services we offer a complete package; every aspect is dealt with, from the sometimes complex registration procedures right through to ensuring the collection of all monies due.

Would you like to know more? Get in touch – we are happy to offer you a service package tailored to your individual needs.

Business Management

Every month there are invoices to be written and bills to be paid, always just in time and without mistakes. This takes a lot of effort and time. Why not take advantage of our Business Management Service and let us do the work for you?

Of course we will keep you regularly updated on your invoices, income and outstanding payments – daily, weekly or monthly, just as you wish. This way, you can concentrate on your core business and need not worry about the financial side of things, yet all information on your business affairs is right at your finger tips.

Royalty Statements

We prepare correct and intelligible royalty statements, based on your license agreements, and issue them in your behalf. If required, we can use your letterhead and stationary, effectively appearing as a department of your company.

Royalty statements are generated using our proprietary software which can be customized to your requirements.

Not only do we issue and mail all statements, we also serve as first of contact for your business partners in case of questions. With every statement comes an overview of outgoing amounts that clearly shows all payments made on your behalf. These overviews are also suitable for tax purposes.

Controlling

MACC ensures complete, accurate and confidential monitoring of incoming statements from your domestic and international contract partners.

Without an international standard for royalty statements, the process of maintaining accurate client information as well as the detailed examination of many different forms of statements are a complex matter: It requires experience in a wide range of fields, a thorough attention to detail and discrete handling of our client data.

Review of Royalty Statements

The fact that inaccurate royalty statements mean financial losses for our clients is always at the forefront of our minds. Such inaccuracies are not easily detected, and often it takes a lot of experience and professional knowledge to spot what exactly has gone wrong. In such cases we will clear up the misunderstanding with the other party.

MACC has a proven track record of success in this area which has attracted a steadily growing client base.

We are also happy to review your distribution accounting, your tour accounts and neighbouring rights payments. We check for plausibility, contract conformity and overall accuracy. Our services target all audio sales, including internet downloads.

Soft Auditing

When reviewing your business deals and similarly confidential matters we always keep a low profile, a technique we call soft auditing. The result is a no-nonsense assessment of your dealings with financial partners across the whole range of your business activity without ruffling anyones's feathers. After all, preserving good working relationships with clients, contract partners and business providers is as important for us as it is for you. When necessary we also provide full financial audits in co-operation with external auditors.

Cost Management and Budgeting

One of the keys to success as a music distributor is effective cost management: When do we break even? What are our costs? How large is our profit? These questions need to be answered, different routes to market need to be discussed prior to embarking on a campaign. Lack of knowledge or inexperience in these matters can put your project in serious danger.

MACC Media Accounting offers comprehensive Budget Planning and Management Service that puts you on the right track from the start:

• we review your planning data and complement them with our proven experience
• we monitor your business activities, alerting you to any deviations from the plan that might present potential problems or opportunities to capitalize on

This way, you can concentrate on pushing you project forward while we have got your back!

Claims Collection

Collecting on your claims can be a laborious process full of bureaucracy and bumph, and communicaton with collection societies and other organisations is often quite confusing. Just the registration process or checking the accuracy of subsequent statements can be very time-consuming for those without expertise in this area.

MACC takes each step of this process for you and ensures that you receive the maximum revenue due from all of the collection societies. We also represent and assist you in the resolution of any discrepancy or dispute over the authorship of a work or title.

International Claims

Of course we also assist you in following up your claims abroad. In order to claim any generated income, labels need to register themselves and each individual piece of work with each of the relevant world-wide organisations. Unfortunately each territory has unique collection societies, with their own regulations, time frames and registration requirements.

When you have international claims, we strongly recommend you deal directly with the various international organisations rather than solely relying on your national collection society and their reciprocal agreements.

We closely examine each royalty statement from the various national organisations and determine its accuracy. Our various offices and representatives in each country are in personal contact with the collection agencies to ensure that you receive the personal and individual attention to detail you deserve.