The Southern African Music Rights Organisation (Samro) has launched a new digital platform for unclaimed royalties. This initiative is aimed at helping artists who have royalties that have accumulated and are due to them.
Some of these beneficiaries may have outdated banking details and are unable to receive their payouts.
Samro said in April 2021 that it had made contact with members through TransUnion and via direct communication to request that they update their banking details. A full list of affected members was also published on the organisation’s website.
This initiative has resulted in over R15-million in royalties being paid out to members who were successfully traced in the first part of the initiative.
The new platform is accessible through Samro’s website and is designed to make sure that royalties are distributed to members on time.
Mpho Mofikoe, Samro’s chief operations officer, said: “We are happy to announce that this new system will streamline the payout process, which means that once members have successfully updated their banking details on the platform, their royalties will be efficiently transferred.”
Mofikoe further explained that when a member of Samro earns more than the minimum threshold amount in the form of royalties, where the amount is significant enough to be paid out to the member, a purchase order is created.
The purchase order then sits on the member’s account until the amount is ready to be released at designated payment intervals.
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