BISG Rights Committee Releases Rights Royalty Statement Standards
Date postedJune 4, 2024
On Thursday, May 30, BISG's Rights Committee hosted the webinar Rights Royalty Statement Standards: The Details Make the Difference. In this webinar, Committee Chair Kris Kliemann (Kliemann & Company), Sebastian Ritscher (Mohrbooks Literary Agency), and Paul Gore (FADEL) reported the findings of the Rights Committee Royalty Statements and Workflow survey. The discussion illustrated how those results support the case for standardizing fields in royalty statements.
Implementation of standardized fields in royalty statements would:
- Improve the process for statement ingestion and analysis, leading to increased revenue
- Allow for more time to be spent on making new deals, and in new markets, as a result of reduced administrative requirements
- Create an opportunity for the implementation of new tools and technology to improve negotiations
- Reduce errors and inaccuracies at the most basic level
The Rights Committee is actively seeking participation from those in the rights ecosystem to continue work on this standard and others. If you're interested in joining, please reach out to us. Whether you're a current member of the committee or an interested observer, we value your feedback and perspective.