Although some said that the MMN was having financial trouble due to adjusting their payment schedule from 60 to 120 days, the network now announces that it will set its payment schedule to 60 days. Here’s the message which was sent to affiliates:
MMN affiliates,
This email provides an update regarding the near term payout schedule as we adjust to net 60 days from 120 days.
MOG intends to issue May and June earnings by October 7th (the 5th business day of the month), July earnings by October 21st, and August earnings by November 6th (the 5th business day of the month). By following this schedule, we will fully adjust to net 60. Note all payouts are subject to a $50 threshold.
The first round of payouts (May, June) incrementally adjusts our schedule to net 90, not 60. We intended to adjust to net 60 by issuing May, June and July earnings by October 7th; however, due to an untimely clerical error, we cannot issue July earnings until October 21st. Please accept our apologies for this oversight.
It’s important that we update you on your monthly earnings and your respective payout schedules. Thank you for working with us, and we look forward to completing the implementation of the new 60 day payout cycle next month.
Best,
The MOG Music Network (MMN) Team
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