between Marketers & Entertainment Creators
Smart contract payment processing enables secure transactions between marketers and entertainmetn creators. HOLLYFY knows how complex brand integrations and branded entertainment partnerships can be.
Simple, Seamless Transactions
Structure mutually agreeable deals.
Here are some best practices.
Sequential payments is a methodology that can be helpful in aligning the interest and schedules of both parties. Break the total amount into smaller payments which are distributed after each review meeting.
As part of the sequential payment model, each review meeting can have an associated payment. For instance, a kickoff meeting might be followed by a payment of 10% of total price and 3 (three) review rounds may equate to 30% of the overall transaction.
A pass-through is a cost in a production budget that does not get marked up with a fee, but gets passed on at cost. Typical pass-through items are: travel related costs, meals, per diems, and local transport. Consult your accountant.
Final payment distribution is often the bulk of the agreed upon price. This is usually dispersed following the release of the entertainment content for the enjoyment of the viewing audience.
Bonuses can serve as a further incentive used to recognize work that achieved greater than expected results. This can be applied after a review round, after the production is released or if sales goals exceeded expectations.
Aligning interests improves outcomes
Every company has a different payment methodology they utilize for media, marketing and advertising initiatives. The ability to amplify brand awareness has never been easier. Here are few best practices when working with entertainment creators:
After negotiating brand integration objectives and projected audience size/demographics, you may wish to set aside the amount in an escrow account along with any bonus amount you determine beneficial to the partnership.
Pay Security Deposit
Utilize a security deposit as an upfront sign of good faith. This can be 10% of the total agreed upon price or establish an amount that works for you and the entertainment production.
Pay Kickoff Amount
The kickoff amount is often paid following the initial meeting between parties where you discuss details of integration. This amount can be 10% of the total agreed upon price, but feel free to use an amount of your choosing.
Use Sequential Payments
After each review round (typically up to 3 meetings) another payment transfer can be dispersed. We’ve found that 10% of the total amount per meeting typically works well but feel free to adjust the amount to your needs.
Issue Final Payment
After the final integration review round the entertainment production will further refine the content in preparation for release. After (or on) release date the remaining amount can be deployed. This amount can be 50% or whatever amount you’ve already agreed upon. The choice is yours.
Bonus (Stretch Goals)
Bonuses are another way to incentivize going above and beyond expectations. Determine an amount that helps motivate and reward positive outcomes.
Each entertainment production has a different accounting method used to track payments. We offer the tools to keep the process moving and help steamline deals. Here are few best practices when working with brand marketers:
After negotiating the brand integration objectives including your projected audience size/demographics, you may ask to set aside the amount in an escrow account.
Receive Security Deposit
Asking for a security deposit as an upfront sign of good faith is acceptable. This can be 10% of the total agreed upon price or establish an amount that works for you and the advertiser.
Receive Kickoff Amount
Requesting a kickoff amount following the initial meeting where you discuss details of integration between you and the advertiser is another acceptable payment. This amount can be 10% of the total agreed upon price, but feel free to use an amount of your choosing.
Following each review round (typically up to 3 meetings) another payment transfer may be dispersed. We’ve found that 10% of the total amount per meeting typically works well but feel free to adjust the amount to your needs.
Receive Final Payment
Following the final integration review meeting you will likely further refine your content in preparation for release. After (or on) the release date the remaining amount may be deployed. This amount can be 50% or whatever amount you’ve already agreed upon with the advertiser. The choice is yours.
Bonus (Stretch Goals)
Bonuses are another way to incentivize going above and beyond expectations. The advertiser may determine an amount that helps motivate and reward positive outcomes.
More about Getting Started
Your questions answered
For more helpful suggestions, best-practices, optimizations, content guidelines, responsibilites and general knowledge…visit our help center.
Does HOLLYFY handle transactions?
We stay out of the deal, so more money can go directly to the creators…and advertisers know there aren’t middle-men between them and the end result. We’ve found this yields faster results and more happy customers.
How do I handle transactions?
There are several ways you can construct payments between advertisers and entertainment creators:
Bank transfers, direct deposit, escrow accounts, PayPal, crypto-currency,…choose the option that best fits the working relationship you’d like to have.
Are there transaction fees?
We stay out of the deal so more money can be used for the brand integration deal.
What are sequential payments?
Sequential payments is a methodology you can choose to incorporate. You are not held to do so, but we’ve found this can be assistive in aligning the interest and schedules of both parties.
Essentially, a security deposit reserves the integration, kickoff costs can be paid after the initial kick off meeting, after each sequential meeting another payment can be transferred and once the production is released a final payment would be transferred.
To further align interests, you may choose to allocate a reserve for bonus payments if the project progresses better than expected. Bonus payments can be issued during any phase (or following release).
You’re not required to use this type of payment. The choice is up to you.
How do I report fraudulent activity?
We ask everyone who uses HOLLYFY for a few pieces of information before they use our platform. Members are advised to have this info filled out before they work together. This info helps make sure you know your partner, how to contact the members and how to report fraudulent activity.
HOLLYFY’s verification requirements include:
• Full name
• Email address
• Confirmed phone number
• LinkedIn profile
• Payment information
To report fraudulent activity:
• Send us an email at email@example.com
• Include your contact info with links to your account and the info of the party you’re reporting with a link to their account.
• Describe in detail the specifics of the fraudulent activity.
• Upon investigation, if this is deemed to be illegal activity, we may file a report with the appropriate authorities.