Will Brexit affect my payments?

As you may know, Great Britain recently announced their intention to leave the EU. This has a slew of consequences and complications that affect a wide array of industries and businesses. The first immediate impact however was a steep drop in the GBP (British Pound). For royalties reported for Q216 (April - June) there was a decline in the currency exchange and thus, some payments may appear lower than what was reported in the Daily Sales Estimates.

We report based on the currency exchange that we receive when we get paid and that is why we always also state that Daily Sales are only estimates and not concrete finals since any number of issues can cause a currency to gain or decline. Rest assured though, the drop wasn't very significant for many of our label partners and as the years roll onward until the actual "Brexit" we predict an up and down of the currency, but not one that should dramatically affect your label and/or its clients.

We will update this article with any other additional updates.

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

Comments

0 comments

Please sign in to leave a comment.