Music streaming platforms together total 67% of global music revenue share, compared to 16.1 % of physical sales. As per Midia Research, in 2023 Q3 alone, the streaming music subscribers reached 713.4m worldwide. A year-on-year growth percent of 14.4%, having grown by 90m.

As we see more growth in this industry, there is a big need to manage huge volumes of metadata that is sent to all these platforms that drive revenue. Therefore, it becomes a necessity to choose the right repository software that offers good features to drive the revenue.

The five must-have capabilities of reliable metadata repository software:

1) Centralized data management:

A metadata repository tool provides a centralized storage and management platform for music or audio-visual metadata, ensuring easy accessibility and up-to-date information.

2) Automated metadata entry: 

Technology and automation enable music professionals to standardize metadata entry and update, reducing data errors and inaccuracies, crucial for royalty calculations, licensing, and effective rights management.

3) Version control: 

The software should track metadata changes over time, enabling users to access previous records, thereby facilitating auditing and maintaining a historical record.

4) Rights and Royalties management:

Efficient metadata repository software tracks rights and ensures fair distribution of royalties for music usage, tracking ownership, rights, and royalties among stakeholders like songwriters, publishers, and artists.

5)Metadata integration:

The software’s functionality is enhanced by seamless metadata transformation and integration with external music databases, and streaming services, enabling access to additional metadata information.