Illustrative engagement. A representative scenario showing how we approach this kind of work in music. It does not describe a specific client; outcomes are described qualitatively.
Industry overview
What is shaping music
Labels, streaming services and live music businesses need to know how people listen, discover artists and choose concerts, and to pay artists accurately.
- Streaming dominates listening
- Live music is a growing revenue source
- Royalty accuracy builds artist trust
Client background
An independent record label, working in Mumbai. This is an illustrative engagement: a representative scenario showing how we approach this kind of work, not a named client project.
- Organisation
- An independent record label
- Sector
- Music
- Team engaged
- Finance & Accounts
- Services
- Accounting & bookkeeping, MIS & financial reporting
Client challenge
Royalty statements from platforms were hard to reconcile with artist payments.
Research objectives
- Deliver on the brief: royalty reconciliation for an independent label.
- Establish accurate, reconciled numbers management can rely on.
- Put a reporting and compliance rhythm in place that runs on time.
Target audience
Scope: Quarterly.
Audiences we typically reach in music
ListenersConcert-goersArtistsStreaming subscribersVenue operators
Geographic coverage
Coverage: Mumbai. Market: India.
- India
Research methodology
A structured finance engagement: review the current process, set up controls, run the routine and report.
- 1Brief
- 2Royalty reconciliation
- 3Insight
We reconciled platform statements, calculated artist shares and produced quarterly statements.
Accounting & bookkeepingMIS & financial reporting
Sampling strategy
- Every ledger, entity and transaction stream in scope was covered, with sample-based checks during review.
Data collection
- Source documents, bank statements and ledgers were collected through a secure shared workspace.
Data quality & validation
- Maker-checker review on all entries
- Bank and ledger reconciliations
- Client approval before every filing or report
- Supporting documents kept for every figure
Data analysis
- Variance analysis against budget and prior periods
- Ratio and trend analysis
- Cash-flow view for management
Key findings
- Clear royalty statements keep artists loyal.
Recommendations
- Build on the core insight: clear royalty statements keep artists loyal.
- Keep the monthly routine and review exceptions with management every period.
Business impact
- Artists received clear statements, and disputes reduced.
Impact is described qualitatively.
Deliverables & next steps
- Insight report and management presentation
- Monthly MIS pack and reconciled books
- Compliance calendar and filings
- Continue the routine and review results every period.
- A natural follow-on question: how do people discover music?