🆕 This Week in IC – w/c March 18th

ft. a mechanical rates tool update and a change to how reserves are displayed in the system

⚙️ US Mechanicals Rate Update!

The statutory US mechanical rates on physical sales and permanent downloads now gets update incrementally on an annual basis, with the new 2024 rates set to 12.4 cents for tracks less than 5 minutes, or 2.39 cents per minute (rounded up) for tracks longer than 5 minutes.

The Mechanicals tool in IC, which does all that math for you based on your downloads and physical sales/manufacturing runs, has now been updated to make the 2024 rates the default, while still allowing you to calculate mechanicals based on previous rates if needed!

To do that, click Edit Report on the Mechanicals landing page and select the desired Default Rate from the drop-down menu as shown below.

Please note – Default Rates will not override custom rates set at the Track or Release level and custom rates must be manually edited if adjusting for these rate increases! More on this in the Knowledge Base, here.

🧑‍🔧 Reserves created within Infinite Catalog are now displayed on the income tab of payee summaries and statements within the system and can be tracked by catalogs and payees alike!