Transformational Solution Streamlines Entertainment Media Finance Processes
AMSTERDAM, Netherlands, Sept. 17, 2024 /PRNewswire-PRWeb/ -- Whip Media, the leading SaaS platform empowering data-driven decisions across the content ecosystem, and Hooper Media, a pioneer in processing software for participations, residuals, and royalties, announced a strategic partnership today at IBC 2024. This innovative collaboration is set to transform entertainment media finance by addressing critical inefficiencies within finance teams across the industry.
The entertainment industry faces significant challenges managing participations and residuals due to manual data processing and complex calculations. Finance teams often spend excessive time sourcing and manipulating revenue data in Excel, leading to time-consuming and error-prone processes. The partnership between Whip Media and Hooper Media is designed to systematize and automate these workflows, significantly improving efficiency, accuracy, and productivity.
"We are thrilled to partner with Hooper Media to provide an end-to-end solution for participations and residuals processing. This collaboration enables us to address the critical pain points of finance teams, offering a streamlined and automated approach to media finance," said Mike Sid, Chief Strategy Officer at Whip Media.
The Whip Media and Hooper Media partnership offers a powerful combination of solutions:
- Streamlined Data Handling: Whip Media's solution ingests, aggregates, and normalizes third-party data, seamlessly feeding it into Hooper Media's system for further processing.
- Automated Calculations: Hooper Media's Calculation Engine automates the consolidation of revenue and expense sources for participations and residuals reporting, including ACTRA & Equity residuals, reducing manual effort and enhancing accuracy.
By leveraging best practices and extensive industry experience, this partnership delivers a modern, flexible solution that simplifies complex financial processes, empowering media companies to manage their operations with greater precision and efficiency.
"By combining our innovative calculation engine with Whip Media's powerful data management capabilities, we offer a truly transformational solution for the entertainment industry. Together, we are making it easier for finance teams to handle the complexities of participations and residuals," said Steve Pitts, CEO at Hooper Media.
About Whip Media
Whip Media empowers data-driven decisions across the entire entertainment ecosystem. Our software provides the industry's most robust insights, enabling leading media organizations to make smarter, more profitable content decisions faster. We help our clients scale and optimize their streaming strategies through automation, visibility, and intelligence. For more information, visit www.whipmedia.com.
About Hooper Media
Hooper Media is a software development company specializing in solutions for processing residuals, participations, royalties, and media finance. Backed by a team with decades of experience and industry best practices, our modern and flexible Calculation Engine simplifies complex processing, improves accuracy, and reduces effort, empowering media companies to manage their financial operations with greater efficiency and precision. For more information, visit www.hooper-media.com.
For additional information, please contact:
Jerry Inman
Media Contact
Jerry Inmann, Whip Media, 1 2126732222, [email protected], www.whipmedia.com
SOURCE Whip Media
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