Trqk, a music royalty intelligence platform, has launched TrqkIQ Indie Edition, a new tool for artists, songwriters, composers, publishers, music libraries and other stakeholders, who are seeking to "interpret and analyse performance royalties alongside on-air performances, quickly and efficiently gain valuable insights, as well as unlock paths to more income."
TrqkIQ helps determine when and where music is being played and ensure that performance royalties have been properly paid. The company said the tool gives users "instant big-picture royalty analysis and strategic decision support for negotiating better sync deals."
"We are excited to officially launch TrqkIQ Indie Edition and give the industry a modern way to really take control and maximise their performance royalties," said said David Della Santa, co-founder and Chief Creative Officer at Trqk. "More than 100 top-tier composers, libraries, and publishers provided tremendous feedback in our successful beta program, which resulted in significant enhancements."
Through a partnership with Barcelona-based data specialists BMAT, TrqkIQ is monitoring performances on 200 TV and radio stations in the US and has plans to expand in the future. TrqkIQ gap analysis pinpoints missed income by comparing royalty statements with on-air detections. With such a tool, Trqk says that a composer, for example, can project income based upon payment ranges by performance source to estimate back-end revenues and target top paying programming.
Trqk has also launched theInside Trqk Blog with news, information, tips and tools, sound advice from industry experts, education about music publishing and rights management, as well as tutorials.
TrqkIQ is available as a 14-day free trial with options for two plans: the Basic Plan, free to users with less than $1,000 royalty income per quarter; and a Pro Plan, which starts at $90 per quarter and scales with quarterly royalties and the number of detection tracks.
"Trqk’s new dynamic tools expedite and automate the process of analysing performance royalties and identifying income that may be missing,” said Jean Chadwick, Senior Vice President of Operations at Spirit Production Music. "It offers many valuable insights that can potentially lead to higher earnings, as well as better terms and placements in the negotiation of sync licenses."
Adam Taylor, President/CEO of APM Music, said TrqkIQ Indie Edition offers the industry "an innovative tool for better managing royalties, understanding statements, and analysing income vs. performances."
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