Royalty Reporting & Payment Policy Updates

Effective date: 01 January 2021

From 01 January 2021, Cruise Music no longer issues routine royalty statements to all artists by default. Instead, statements and payouts are made in accordance with each artist’s agreement and the policy below.

WHAT THIS MEANS

  • Reporting on request: If you have not received a royalty report from us, it is because (a) prior statements and emails went unanswered, or (b) your accrued royalties did not meet the annual minimum payout threshold of 50GBP (net of distributor fees and agreed release costs).
  • Minimum payout threshold: We only issue payments once your net accrued royalties meet or exceed 50GBP within a rolling 12-month period. Amounts below the threshold carry forward to the next period.
  • Artist action required: If you believe you have accrued royalties and have not received a statement, please contact us directly so we can verify your account details and provide a status update.

TIME LIMITS FOR CLAIMS

  • 12-month claim window: To keep our accounts accurate after we remit local taxes, dividends, and value-added/withholding taxes, we do not pay retroactively on royalties that were unclaimed or undisputed for more than 12 months from the date they first became payable, except where prohibited by applicable law.
  • If you think something is outstanding, contact us within 12 months of the relevant accounting period so we can review and, if due, pay it in the next cycle.

HOW TO REQUEST A STATEMENT OR PAYMENT

Email: [email protected]
Include your artist name, release titles/UPCs, the email associated with your account, and your preferred payment method (e.g., PayPal).

IMPORTANT NOTES

  • Net receipts basis: Royalties are calculated on net receipts (after distributor/aggregator fees and agreed release costs), per your agreement.
  • Payment schedule: When the threshold is met, payments are made on our regular quarterly cycle (end of February, May, August, November) unless your contract specifies otherwise.
  • Tax compliance: We comply with all required tax reporting and remittances. Where tax forms or confirmations are required and not provided, we may be obligated to withhold or delay payment.
  • Contract governs: If your signed agreement differs from this notice, your agreement controls to the extent permitted by law. Nothing in this policy limits any non-waivable rights you may have under applicable law.

Effective date: 01 January 2023

From 01 January 2023, Cruise Music no longer makes payments in GBP. Instead, all statements and payouts are made in EUR, as that is the new default currency.

WHAT THIS MEANS

  • Reporting changes: Any future reports will come in EUR instead of GBP. If you request previous reports, those will also be in EUR from now on; In our accounting and royalty system everything has already been converted to new default currency.
  • Payments made: We only issue payments in EUR from the effective date.
  • Minimum payout threshold: Your net accrued royalties minimum is now in EUR instead of GBP, but remains within a rolling 12-month period.