Materia team here, re: payout issues; we’ve been in a meeting all afternoon to make a plan. We didn’t realize just how widespread this was; that’s on us. We’ve been treading water a long time with our reporting/accounting tools; we grew too fast for our team to keep up.
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Can you confirm that you have the cash on hand required to make overdue payments to artists immediately?
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Great question. Yes: delays reflect data entry/accounting issues, not our financial stability. 100% of outstanding royalties will be paid to all artists by our next accounting period in mid-February.
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Came here to ask this as well.
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Replying to @OhPoorPup @MelloMakes @oysterFAKE
We are still investigating options. For now, we are waiving the minimum balance threshold for the next payment to ensure all artists receive 100% of outstanding royalties.

Jan 17, 2021 · 9:00 PM UTC

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Replying to @MateriaColl @OhPoorPup @MelloMakes
You're really going to have to do better than that.
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Replying to @MateriaColl @MelloMakes @oysterFAKE
The minimum balance threshold of $100 quarterly? I think a free album on Bandcamp could generate $100 over two years, that isn’t really a response at all.
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