The community payment process involves the HITRECORD staff as well as the community — it’s a public and transparent process all done on the site where the community and the staff have open conversations about who makes what amount of money. Ultimately, HITRECORD makes the final decisions based on community feedback.
Here’s how the process works, step by step...
Whenever monetized productions are completed, the HITRECORD team reviews all the final pieces by hand to account for every single contribution and artist involved.
HITRECORD then makes an initial assessment of how much each artist should receive for the part they played in making that song, or poster, or other piece of art. This assessment is posted publicly on the site in what we call a “Community Payment Proposal.”
If you’re included in the Proposal, you are emailed and notified on the site.
However, the Proposal is not the end of the process. After our Proposals are posted publicly, there is a two week window for the community to provide feedback on every Proposal. For example, someone may believe they were left out, or that they are making too much or too little. Anyone can post a comment and everyone else can see and respond to it.
The HITRECORD Community Team, led by MattConley and JenGerdano, next reviews and addresses every single concern raised. It’s an open dialogue, and it’s important to HITRECORD that everyone has a chance to be a part of it. Based on this discussion, we make changes or adjustments, and of course we keep the community informed.
After the two week comment period concludes, HITRECORD makes all final decisions and the Final Community Payments are posted.
Simultaneously, everyone included in the Final Community Payments receives an e-mail and notification on the site with instructions on how to collect their money digitally through through our payment facilitator, Hyperwallet, a division of PayPal.
Over the past 8+ years, HITRECORD has paid out over $2.7 million to contributing artists from all over the world. Our technology allows for everyone in the community to provide feedback and have open conversation via public comment, ensuring that the process is clear, public and archived for future reference.
For more information, watch THIS VIDEO.