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  "documentTitle": "Hipgnosis Songs Fund | Results Presentation Deck | 16 slides",
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  "authorName": "Hipgnosis Songs Fund",
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  "presentationDate": "2022-07-01 00:00:00",
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  "notes": "Describes a shift from cash-basis/processed-basis revenue recognition to accrual-basis based on end-customer usage.",
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      "text": "HIPGNOSIS",
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      "text": "Brings Hipgnosis into line with other major publishers\n$36.0m additional estimate accrual for current year, compared to prior year\nPreviously revenue recognised at the point earnings were paid to and processed by Collection Societies, Publishers and Administrators\nRevenue accrual estimates now reflect revenue at point at which usage by the end customer is expected to occur\nThis change in estimate affects timing of the recognition of certain revenues\nThe like-for-like increase in the revenue accrual between this year and the prior year is not expected to occur in future periods",
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