Empowering the Creator Economy with Instant Payouts
Empowering the Creator Economy with Instant Payouts
Introduction
Headquartered in Abu Dhabi, UAE, Silent Roar Media (SRM) is a data-driven media company that offers digital music distribution, copyrights management, marketing and promotion, and talent management services to artists, labels, and content creators. The company has an operations office in Karachi, Pakistan, as well as a strong a presence in India, Nepal, and Bangladesh.
Currently, SRM distributes music on 100+ platforms across 200+ territories, globally.
Given its expanding global reach, Silent Roar Media was in search of a partner who could help them pay artists, labels & content creators as well as employees worldwide while addressing the weaknesses of traditional payment systems.
The Challenge
High transaction costs
For every royalty payout, Silent Roar Media was incurring hefty processing costs with fees ranging from $20 to $70, depending on the destination! This negatively impacted creators relying on smaller, more frequent payments.
Delays in payment processing
A significant number of the company’s employees and clients in remote regions did not have access to traditional banking services, further prolonging the payment process. This meant amounts as small as $100 reached recipients after 4-5 days and sometimes took over a week.
High payout thresholds
Another significant challenge faced by Silent Roar Media was high payout thresholds. Due to the aforementioned challenges, the company was unable to process royalty payouts unless they reached the minimum threshold of $250 or more in value.
Why TerraPay
By leveraging TerraPay’s network and payout capabilities, Silent Roar Media and its growing clientele benefited from instant, affordable, and secure payments.
Reduced Transaction Costs, Greater Speed
TerraPay helped SRM dramatically reduce transaction costs, bringing the number down to a fraction of the conventional fees, thus ensuring financial benefits for the company. This also made frequent small-value payments more affordable, ensuring that creators and artists didn’t lose a large chunk of their earnings to payment fees.
Leveraging TerraPay’s network and technology, the company was able to make these payouts in near real-time. In fact, the speed of the processing payments on TerraPay’s platform was so quick that the company received calls from pleasantly surprised clients who were delighted to receive their royalties in a matter of minutes instead of days!
Increased Flexibilty with Wallet Payouts
The essence of the creator economy lies in the benefit of sending small-value payments, delivered timely to the creators directly at their preferred mode of payment. Before partnering with TerraPay, SRM was unable to ensure efficiency, flexibility, or affordability for their customers because of several external factors.
With TerraPay, the threshold for outgoing royalties dramatically dropped from $250 to as low as $50! Additionally, in regions where the receiver did not have access to a traditional banking system, Silent Roar Media was able to pay directly into their mobile wallets. This made a huge difference to artists & content creators who rely on these royalties as their sole income.
Global Payout Network
With TerraPay’s extensive network, Silent Roar Media was able to reach clients and employees, globally. Tapping into TerraPay’s reach, SRM seamlessly managed both salary payouts to their employees across India, Nepal, Pakistan, and the US and royalty payouts to their artists and content creators across Pakistan, India, US, Canada, Nepal, Bangladesh and the EU.
The Result
Seamless Payouts Across the World
- Nepal
- India
- Pakistan
- Bangladesh
- USA
- Canada
- EU
$
1
million
SRM saw their overall transaction volumes exceed $1 million in the span of a year
80
%
lower fees
With TerraPay, bank charges were drastically reduced, benefitting SRM financially
<
24
hours
By reducing end-to-end transaction time from days to few minutes, SRM benefitted from increased operational efficiency and positive customer experiences
$
1
million
SRM saw their overall transaction volumes exceed $1 million in the span of a year
80
%
lower fees
With TerraPay, bank charges were drastically reduced, benefitting SRM financially
<
24
hours
By reducing end-to-end transaction time from days to few minutes, SRM benefitted from increased operational efficiency and positive customer experiences
“Partnering with TerraPay has had a radical impact on how we manage payments for our global clientele. Together, we’ve not only been able to empower the global creator economy but also improve our financial operations and grow our reach in a sustainable way.”
“Our partnership with Silent Roar Media has been a testament to the power of technology in driving efficiency, reducing costs, and empowering creators worldwide. By enabling near-instant, cost-effective, and flexible payments, we are proud to support Silent Roar’s mission to provide seamless financial solutions to artists and content creators across the globe.”
