Profiles & Ratings for Music Companies
In order to submit an application for funding as a music company, you will need to create a User Profile to use the online system. Then, depending on the type of music company you are, you will need an Applicant Profile which outlines your company’s information.
Your Applicant Profile provides the information required to assess your applicant rating within FACTOR’s applicant rating system.
The user profile is the core profile to access the FACTOR system. Every individual who will access the FACTOR online system requires a user profile – you only need one, and you should be the only person who uses this profile.
The applicant profile contains information on yourself or your company. It is used to apply for and accept funding if your application is successful. Remember that the individual, partnership, or corporation named in your applicant profile will be legally and financially responsible for any project that is funded by FACTOR, including any tax implications.
How the FACTOR Applicant Rating System Works
Applicants to FACTOR fall into four categories:
- Artists applying on their own behalf
- Companies and organizations applying to the Collective Initiatives program
- Songwriters applying on their own behalf.
- Music companies whose primary business activities are those of an artist manager, distributor, publisher or record label
The first two categories need only fill out the applicant profile landing page, without the qualifying criteria. They must submit their profile for rating using the request review button on the landing page. When their applicant profiles have been reviewed, they will receive an approved applicant rating.
Songwriters need fill out the applicant profile landing page and the qualifying criteria songwriters page. They must submit their profile for rating using the request review button on the landing page. When their applicant profiles have been reviewed, they will receive an approved applicant rating.
Artist managers, distributors, publishers and record labels can be eligible for FACTOR funding for their business, based on the information provided in the qualifying criterion. Once they have submitted their profile for rating using the request review button on the landing page, FACTOR staff review the information provided. If the company meets the thresholds established by the FACTOR Board of Directors it will be given a company rating.
Companies who provide the necessary information in their applicant profile landing page to meet the qualifying criterion for an “Eligible Music Company” (as set out in Section 22 of the Business Policies) will be given a company rating of 2. This rating makes them eligible to apply for the Business Travel program.
Companies that meet the next-level financial thresholds as set out in Section 22.6 of the Business Policies will be given a Company rating of 3, making them eligible to apply for the Business Development program.
Eligible record labels that meet all of the foregoing criteria and also the additional criteria set out in Section 14.3 of the Business Policies will be given a company rating of 4, making them eligible for the Comprehensive Music Company program. Note: Company ratings of 4 are only awarded once per year after the Annual Review in February.
Annual and Semi-Annual Review
New companies that have never received a FACTOR applicant rating may submit a completed applicant profile (including qualifying criteria and gross revenue information, if applicable) and request a rating review at any time. Those new companies may receive a company rating of approved, 2 or 3.
All Eligible Music Companies (companies with an existing music company rating of 2, 3 or 4) must update their qualifying criteria every year prior to the annual review deadline on the last business day in February. This includes:
- any changes to the company;
- qualifying criteria, including roster and release information, as applicable; and
- gross revenue information.
Those companies may receive an improved, reduced or unchanged company rating, depending on the information submitted. Eligible Music Companies that do not update and re-submit their updated profiles before the deadline may lose their company rating altogether.
The Annual Review is the only chance for new companies to receive a company rating that makes them eligible to apply to the Comprehensive Music Company program.
Companies with an existing company rating of Approved or 2 can receive an increased company rating of 2 or 3 as a result of the semi-annual review deadline, which is the last business day in August and is by request only. You should submit the required qualifying criteria and request review on your profile before the deadline.