Loxley relaunch
Royalty management firm urges developers to exercise their right to audit publishers.
CHELTENHAM, GLOUCESTER, UK (December 16th, 2009)– Former Media Forensics co-founder, Faye Sieracki, today announces the re-launch of Loxley Royalty Management (Loxley) following the acquisition of the Media Forensics brand, as the firm highlights the potential losses that could occur when companies do not exercise their contractual audit rights.
“Many developers are nervous about exercising their contractual rights as they think this could signal the end of their relationship with their publishing clients” said Loxley Director, Faye Sieracki. “We know that publishers expect to be audited and our unique sector experience gives us an advantage as we understand how the publishing model works and we don’t waste their time with unnecessary questions, and they fully understand the transparent way in which we work”.
Analysing statistics gathered by the work done by Sieracki since 2002 suggests that simple errors in the reporting provided by publishers can cost developers millions of dollars, with over $16 Million being uncovered by the audits in this period.
“We’ve found discrepancies in 100% of the audits we’ve carried out” said Sieracki. She continued “Almost all the errors are genuine and publishers invariably accept our findings without complaint. In any other sector of industry a licensor would audit its clients annually. For some reason many games developers are reluctant to exercise this right and this can lead to large problems further down the line.”
The firm’s unparalleled experience in the sector is gained from working with developers and publishers, advising best practice to both for royalty reporting. Together MF & Loxley has worked, and continues to audit some of the biggest names in the industry, including Electronic Arts, THQ, Ubisoft, Codemasters, Vivendi and Sony. It is this vital experience which allows Loxley to do work quickly and efficiently for its developer clients and provide useful audit analysis which can assist with future contract negotiations.
For more information and advice on royalty contracts and auditing please contact faye@loxleyroyalties.com or call on + 44 (0) 7971 966119
Media partners should contact:
Simon Jones
Peppermint P
Tel: 0207 240 2645
Email: loxley@peppermintp.com
NOTES TO EDITORS
About Loxley Royalty Management
Loxley Royalty Management (Loxley) has been providing forensic accounting services to the video game development, publishing and licensing sectors since 2002. With a complete understanding of both sides of the licensor / licensee relationship, Loxley provides a full range of royalty based services to clients including; royalty auditing, contract opinion, royalty and co-publishing statement management, and royalty statement production.
Loxley is owned and managed by Faye Sieracki, who was one of the original co-founders of media audit specialist Media Forensics. Loxley fully acquired the assets of Media Forensics in March 2009.
The company website is located at: http://www.loxleyroyalties.com/