As FilmTrack embarks on another transformative year, we take a moment to review our goals at the beginning of 2023. Last year, CEO Jason Kassin shared his vision for a platform deeply rooted in scalability, performance, and an enhanced user experience underpinned by profound investments from City National Bank. There has been incredible progress. These aspirations have been translated into tangible innovations, notably the advanced architecture of FilmTrack's platform and a suite of features that redefine film and TV rights management.
In 2023, Jason's emphasis on robust APIs, configurable implementation, and integrating complex participation statements laid the groundwork for what we see today. The system exceeds industry standards in efficiency, adaptability, and financial management. The commitment to an intuitive user experience has been realized in the new UX, making data accessibility seamless for veteran users, newcomers, enterprise companies, and smaller sales agents and distributors.
The exploration of AI and machine learning, supported by City National Bank's parent company's world-class AI research center, has brought forth tools that are not just cutting-edge but pivotal in keeping pace with the rapidly evolving media landscape.
8 Critical Revamped FilmTrack Capabilities for Rights Management:
1) General Ledger
FilmTrack's platform now boasts a fully integrated General Ledger, a cornerstone feature that underpins all transactions. This addition ensures EVERY contract, invoice, and payment generates corresponding debits and credits, which can then be easily integrated with existing accounting systems.
2) User Interface and API Integration
A refined UI built on powerful APIs enhances accessibility to data, both through the interface and APIs, thereby streamlining the user experience. These APIs also serve as pivotal points for integration and migration, making data handling more efficient.
3) Workflow and System Divisionality
The introduction of a new workflow engine marks a significant leap forward. FilmTrack now incorporates a cross section of rules and validations, crucial as contracts and invoices transition through the system. Additionally, the platform now supports multiple business divisions, each with its own base currency, operating independently yet sharing master data where appropriate.
Contract Workflow Transitions
4) Revolutionary Royalty and Participations System
FilmTrack's royalty and participations system has undergone a complete overhaul and now features:
- A custom statement generator
- Support for interest computation
- Expense reserves
- Complex tiering
This comprehensive revamp ensures more accurate and efficient management of royalties and participations.
5) Data Analytics
FilmTrack's new data analytics platform, integrated with Power BI, extends the boundaries of custom reporting. Users can now blend FilmTrack data with external data sources, offering unprecedented insights and analytics capabilities.
6) Support for Episodic Content and Elemental Rights
Extending support for episodic content and elemental rights marks a crucial development. The system now ensures that rights inheritance is honored throughout, catering to the complex dynamics of modern content distribution.
Episodic Rights Breakdown
7) Enhanced Avails Reporting
The avails reporting system has been re-architected, enhancing performance and accuracy. These reports offer not only availability insights (by territory, right, channel, language, date, etc.) but also insight into the reasons behind the unavailability of certain assets.
Availability Status Report
8) Security and Compliance: A Top Priority
Underpinning all these advancements is FilmTrack's unwavering commitment to security and compliance. The platform meets bank-level standards, being SOC I, SOC II, GDPR, and SSO (multi-factor) compliant, ensuring the utmost security for its users.
Invitation to Experience the New FilmTrack
FilmTrack's new rights management platform, combined with an incredible implementation process that holistically focuses on the individual needs of media companies, delivers an unmatched user experience.
FilmTrack invites you and your team to schedule a demonstration of these groundbreaking features and experience firsthand how the platform can revolutionize your film and TV rights management in 2024.
FilmTrack is an RBC Company and subsidiary of City National Bank Member FDIC. City National Bank is a subsidiary of Royal Bank of Canada.
This article is for general information and education only. It is provided as a courtesy to the clients and friends of FilmTrack. FilmTrack does not warrant that it is accurate or complete. Opinions expressed and estimates or projections given are those of the authors or persons quoted as of the date of the article with no obligation to update or notify of inaccuracy or change. This article may not be reproduced, distributed or further published by any person without the written consent of FilmTrack. Please cite source when quoting.