NetAmount and NetRevenueInCurrencyOfAccounting

RDR-R requires the reporting of both the NetRevenueInCurrencyOfAccounting in the RS01.01 Recordand NetAmount in the RS02.01 and RD01.01 Records.

1. NetRevenueInCurrencyOfAccounting is defined as “The revenue generated from the licensing of sound recordings, music videos and/or audio-visual resources containing music in the CurrencyOfAccounting. This amount is the aggregate of the net revenue amounts that appear in the relevant revenue Cells.”

2.  NetAmount is defined as “The final amount of revenue due following all deductions and/or additions to the relevant music licensing company’s gross amount in the CurrencyOfAccounting.”

In the RevenueReport message, where summary and detail revenue data from various allocated party revenues is being reported, the use of the above terms is distinctly different. Thus, a single RevenueReport message can convey a NetAmount for a number of AllocatedParty summary Records (RS02.01). The sum of these NetAmounts is the NetRevenueInCurrencyOfAccounting in the revenue summary Record (RS01.01). 

The AllocatedParty summary Records for Contributors and RightsControllers is then broken down in detail into several sound recording revenue details Records (RD01.01). The sum of the NetAmounts in all those RD01.01 Records again equals the NetRevenueInCurrencyOfAccounting in RS01.01 below:

For the new RevenueSummary message the values in the NetRevenueInCurrencyOfAccounting and NetAmount cells may be identical within the same Record and across Records in some instances.

Since the RevenueSummary message will only cover one StatementType at a time per message (see point 2 above), the Record will show the NetAmount and NetRevenueInCurrencyOfAccounting of one AllocatedParty.

The only time when the two amounts may be different is if the CurrencyOfAccounting used locally is different from the currency of the NetRevenueInCurrencyOfAccounting stated.