As anyone in the digital content and distribution business knows -- and has experienced first-hand -- accounting for royalties in the digital world is complex to say the least. Many content companies have struggled to keep up using old-fashioned excel spread-sheets in a highly labor-intensive process. Others, however, have turned to firms who have developed web-based services to automate the process.
One of the leaders in this area is San Diego-based RoyaltyShare, headed by music royalty expert and eMusic co-founder Bob Kohn and fellow eMusic topper Steve Grady who serves as the company's President & COO. I have known Steve for several years now and he not only is extremely experienced in digital media, he is a good guy. The company just recently closed its second round of funding -- $5 million from Trident Capital in Silicon Valley, and today's San Diego Union Tribune features the company today on the front page of its "Business" section. It is an interesting read for anyone interested in the perils of digital licensing and accounting.