Hi All,
I wanted to let you know about a webinar coming up called: A Producer's Guide To Understanding and Managing Residual Payments.
It begins on Thursday, June 9th at 1pm PT.
In this exclusive Stage 32 webinar, you will examine residual payments from the perspective of the producer. However, whether you’re a producer responsible for the residual payments or an artist receiving them, you’ll benefit from knowing how these payments are defined and how they work. You learn the different aspects involved in residual payments, such as how the Collection Account Manager (CAM) works, what the Payroll Houses do, and how the Guilds set the rules. You will also learn about how contracts are written to address residual payments and how that language makes a huge difference in who gets paid what, how, and when.
You can find it here: https://www.stage32.com/webinars/Understanding-and-Managing-Residuals
Tell us if you decided to register and what you learned?
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Residuals are my favorite. Sharing!
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I asked this question in the webinar, but we didn't get to it. Just curious how BlockChain would effect this payroll system, or be implemented for non-studio made films? Anyone have any insight?
Alyssa Carter Blockchain would simply complicate matters for all involved, and not likely be agreed to by any union or studio. For a general discussion, see my article at:
https://independentproducersguild.org/blockchain-in-the-film-industry
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That is a very valid question, Alyssa. Thanks! I have not seen any workable blockchain-based initiatives to change the payroll system or for that matter, management of revenues and / or a reserve for payment of residuals. The players involved or the industry as a whole, may not be ready as yet for this. Now that does not mean it will not happen that at some point calculation and payment of residuals becomes a blockchain-based process with smart contracts, etc. From what I understand from blockchain experts / programmers, is that within a couple of years, inevitably, large part of transactions will be blockchain based. Will this include the payroll system? I do not have the answer and I am as curious as you are! In many ways, the film industry is old-fashioned and runs behind on technological changes. So I would expect us to see successful blockchain initiatives in other sectors and businesses before we see them materializing in film.
Crypto Market/blockchain crashed. Onto the next "hype" money maker scheme like payment in diamonds or gold. "Real assets"
Dan - I work best for beer.