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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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.
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Sebastian Wolff here, I'm Materia's CEO. We're a team of 6 fulltime; not a massive media conglomerate. Last year, over $2M went to artists as royalty payments and investments in video game music projects. Frustrations regarding delays are valid, and they will be fixed.

Jan 17, 2021 · 10:12 PM UTC

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Replying to @MateriaColl @OhPoorPup @MelloMakes
What you did do last year doesnt really matter in the current conversation when your failures are quite so severe, dont really know why you'd bring that up.
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Replying to @MateriaColl @MelloMakes @oysterFAKE
“Last year, we paid a lot of people” isn’t really a great argument here.
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