OARA aims at drastically improving efficiency for distributors and rights holders when it comes to working out gross receipts, royalties and residuals.
Brad Kemble, most recently head of international distribution at Lionsgate/Summit, has teamed with Jochen Hesse, founder of film auditor RevCheck, and media lawyer Jobst Upmeier to launch an online accountancy reporting platform for the film industry.
OARA, which is set to go live Saturday, is billed as the first online reporting and approval application dedicated to film, and aims at drastically improving efficiency for distributors and rights holders when it comes to working out gross receipts, royalties and residuals.
The new platform will feature, among other things, reporting of gross receipts and distribution costs for all rights in scalable details, plus the automatic creation of distribution royalty statements and the lifetime projections based on actual revenue-sharing terms.
“The system links up distributors and rights holders in a real-time, direct way and links all the different parts of a film company, from financing and production to marketing and accounting,” said Kemble in a statement.
With SSL secured date storage on Google services in the U.S., Europe and Asia, OARA is being backed with the participation of shareholders Fintage House and Freeway Entertainment, and is being announced in Cannes after Kemble and Hesse spent six months meeting with worldwide distributors and presenting the system to sales agents and producers.
Please Enter Your Facebook App ID. Required for FB Comments. Click here for FB Comments Settings page