RECAP: SOCAN Launches Blockchain Licensing Platform, A2IM Warns of Counterfitting, How Spotify Could Become A “Label”
Posted by Glen Sears | October 24, 2016 9:47 am | No Comments
SOCAN To Build New Canadian Digital Licensing Marketplace/Platform
Story of the Week
Nashville-based Core Rights has partnered with SOCAN and Re:Sound to form Canada’s first country-wide digital marketplace for licensing music rights. It is both a blockchain-enabled licensing solution that is simple to use, and a highly efficient one-stop shop for businesses using music, such as restaurants, hairdressers, dentists’ offices, retail stores, and more.
“SOCAN continually innovates to make music licensing easier and more accurate, so that music creators can be compensated fairly and faster for the use of their work,” said SOCAN CEO Eric Baptiste. “With Core Rights we look forward to building the future of licensing, connecting more people with music, as we strive to transform music rights in Canada and worldwide.”
“We are so excited to be creating the first truly electronic marketplace for music licensing along with music industry powerhouses, SOCAN and Re:Sound,” Jim King, CEO and Founder of Core Rights, LLC. “Working together we will deliver to the Canadian music industry both a more efficient one-stop digital marketplace for music licensing and using our patent-pending analytics and lead generation services provide much greater penetration into the Canadian business environment.”
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Music Streaming Services Too Expensive for Many, U.K. Study Finds. According to a poll conducted by YouGov and Zuora, around 10 percent of British consumers currently subscribe to a premium service, with half of the remaining 90 percent suggesting they are too expensive.
ASCAP Sues 10 Music Venues For Not Being Licensed To Play Music. “Hundreds of thousands of well-run businesses across the nation recognize the importance of paying music creators to use their music, and understand that it is both the lawful and right thing to do—however, each of the establishments sued today has decided to use music without compensating songwriters.”
APRA AMCOS Reports Record Revenues. APRA AMCOS CEO Brett Cottle said the organizations enjoyed “an exceptional year” as overall revenue grew 11% year-on-year to A$333 million ($254 million), and net distributable revenue rose 8.73% to A$285.5 million ($218 million).
How Spotify Can Become A Next Generation “Label.” Mark Mulligan of MiDiA Research discusses his theory that Spotify could create “the full stack music concept that Access Industries, Liberty Global and Pandora have been pursuing” to become more than music retail.
Our best wishes for a great week! – MediaNet
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