The Orchard Adds Recorded Music Royalty Processing To Its Service Offering With RoyaltyShare Acquisition And Strategic Investment In Korrect

NEW YORK and LONDON -- The Orchard, the pioneering independent music, film and video distribution company, has acquired RoyaltyShare, Inc. and made a strategic investment in Korrect, two of the industry's pre-eminent royalty processing services. Together, RoyaltyShare, Korrect and The Orchard will combine the foremost elements of each business to provide advanced royalty processing services to independent record labels.

"We created RoyaltyShare in 2005 when we realized the inherent difficulties faced by independent labels in transitioning to a digital world," explains Steve Grady, CEO of RoyaltyShare. "The challenges of royalty accounting have grown by magnitudes over the past decade. Our goal is to minimize the pain points around the business of running an independent label and, in The Orchard and Korrect, we've found partners who share the same ethos."

RoyaltyShare launched the industry's first Web-based platform to support revenue processing and master royalties for independent record labels and music distributors. The company's RPS platform supports more than 90 customers including some of the world's largest and most recognized independent labels as well as advanced digital sales processing for large book publishers with its Digital Advantage solution.

Korrect began in 2001 as accounting software that quickly transformed to support the shift from discrete unit transactions to consumption models such as Spotify and YouTube. Currently serving some of the largest independent labels in the world, Korrect is a nimble data processing platform that ties into the immense amount of royalty data managed by The Orchard today.

Simon Peters, Managing Director of Korrect adds, "We see it as an excellent opportunity to integrate with the industry's leading digital distributor, The Orchard. RoyaltyShare and Korrect share goals to extend our solutions to record labels of all sizes. We are excited to collaborate with like-minded businesses to build upon the next-generation, best-in-breed royalty processing system."

The combined recorded music royalty processing platform will be a standalone system accessible to all clients and will also be connected to The Orchard Workstation, The Orchard's client dashboard, through automated data sync. It will seamlessly integrate digital and physical sales data with all ancillary revenue, relieving the burden of processing artist statements and facilitating transparency in artist accounting.

"We're always looking for ways to free up our clients time to allow them to focus on the creative side of their businesses, whether it's through performance rights collections, sales and marketing, or premium video services," says Brad Navin, CEO of The Orchard. "Artist royalty processing is a natural extension of our end-to-end solution, particularly as it follows our philosophy of providing complete transparency from point of purchase to artist payment."

About The Orchard

The Orchard is a pioneering music, video and film distribution company and top-ranked Multi Channel Network operating in more than 25 global markets. With a holistic approach to sales and marketing combined with industry-leading technology and operations, The Orchard amplifies reach and revenue across hundreds of digital, physical and mobile outlets around the world. The Orchard streamlines content owners' business complexity with an intuitive client dashboard, comprehensive rights management and tailored client support. Founded in 1997, The Orchard empowers businesses and creators in the entertainment industry. For further information, please visit www.theorchard.com.

About Korrect

Since 2001, Korrect's goal has been to offer a trio of solutions for music labels by way of: a metadata system for content distribution, sales analytics for trend analysis and the royalty module which reduces processing time and helps focus resources to the business of content creation. A throughput system which requires data to be entered once, Korrect offers scalability and versatility. Korrect Software is headquartered in London, England with a global list of clients in Europe and the USA being supported and developed within offices in the UK, Mauritius and the USA. www.korrectsw.com

About RoyaltyShare

RoyaltyShare, Inc. is the leading provider of global digital revenue management and reporting solutions for the music and book publishing industries. Utilizing an innovative Software-as-a-Service (SaaS) application delivery model, RoyaltyShare provides a suite of on-demand services dedicated to simplifying the increasingly complex digital sales channel. RoyaltyShare's technology is used by hundreds companies around the world. RoyaltyShare is based in San Diego with offices in New York and London. More information on the company can be found at www.royaltyshare.com.

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