Hyperwallet, the global payouts provider to millions of independent workers, announced Tuesday (Nov. 22) it inked a partnership with USA Media Rights, a music and media rights company.
In a press release, Hyperwallet said, under the partnership, USA Media Rights will continue to connect Hyperwallet with music industry organizations to improve the processing and delivery of royalty payments for recording artists, music producers and songwriters worldwide.
“Historically, it has not been a priority for the music industry to make sure royalty payments reach recording artists, record producers and songwriters in a way of their choosing,” explained Erik Steigen, CEO of USA Media Rights, in the press release. “The process of getting paid can be extremely cumbersome. Several of the larger companies still require physical paperwork to be signed and notarized in order to process basic necessities, such as changing a mailing address or the contact information for authorized representatives, not to mention the initial set-up for payment. As the music business becomes increasingly international, there are a tremendous number of globally dispersed contributors that have difficulty receiving their hard-earned royalties. We believe Hyperwallet is the solution to that issue.”
According to Hyperwallet, using the company’s global payout network, music companies can reduce the frustrations that often come when making cross-border royalty payments. Traditionally, payees have been subjected to high foreign exchange fees and lengthy delays, said Hyperwallet. With the service, international artists will be able to receive royalties in local currency.
“USA Media Rights has been instrumental in bringing Hyperwallet into the music industry,” said Brent Warrington, Hyperwallet’s CEO, in the press release. “With their vast experience as industry insiders, they recognized that royalty payments were an area where we could work together to improve the experience for music organizations and artists alike. We admire USA Media Rights’ commitment to their clients’ success and look forward to our ongoing partnership.”