Companies to Expand Licensing and Reporting Solutions for Digital Music
WOODLAND HILLS, CA. and LOS GATOS, CA , California — (April 22, 2010) — Music Reports, the leading independent provider of music rights administration services in the U.S., and Audible Magic, the leading provider of electronic media identification and copyright tracking services in the U.S., today announced the formation of a strategic partnership to expand music publishing, licensing, and reporting solutions for broadcasters, Internet websites, and other digital music users.
Pursuant to this partnership, the two companies have matched the Audible Magic database of sound recording “fingerprints” to the songs registered in Music Reports’ Songdex® database, and the companies will continue to match their databases, on an ongoing basis, as they are updated with new fingerprints and songs. The companies intend to jointly develop processes whereby data related to the matched databases may be transmitted electronically to music users, for purposes of music licensing and royalty reporting.
These activities will enable the companies to perform music publisher and performing rights society market share analysis for music users, as well as facilitate efficient licensing and more transparent reporting to rights owners and collecting societies, to the economic benefit of both rights owners and music users.
“For too long, digital music users have had no way of knowing which songs are controlled by which music publishers and by which collecting societies”, said Les Watkins, SVP of Business Affairs and Business Development for Music Reports. “This has created an inefficient marketplace for music rights, so that users have been limited in their licensing options. Through this partnership with Audible Magic, we will open up lucrative direct licensing opportunities for music publishers, while reducing transaction costs and overall royalty payments for social media websites and other music users.”
“Music Reports provides licensing and reporting services to many of the leading US broadcasters and websites. With this new relationship, we’re able to provide a more integrated set of services to support the new business models for licensing content that meets the needs of the rights owners, the collecting societies, the distributors and consumers of music” said Vance Ikezoye, CEO of Audible Magic. “Our aim is to increase the legitimate uses of music and ensure artists and songwriters are properly compensated.”
About Music Reports ®
Music Reports, Inc. ( www.musicreports.com ) is the leading provider of music rights administration services in the United States. The company’s proprietary systems and applications set the standard for technology in the music industry. Music Reports also maintains the largest database of music copyright information in the world, the Songdex® database. The company offers a full spectrum of music rights administration services, including: copyright research; music clearance; sales data consolidation; music usage reporting; royalty accounting; and royalty payment. Music Reports clients include the world’s largest television and radio broadcasters, digital music services, background music services, major record labels, mobile carriers and aggregators, and consumer products companies. Music Reports is a portfolio company of ABRY Partners, one of North America’s leading private equity investment firms, which is focused on media and information services. For more information, go to www.musicreports.com
About Audible Magic ®
Headquartered in Los Gatos, California, Audible Magic is the leading provider of content management and anti-piracy services. Its patented content identification technologies and extensive reference database enable Web 2.0 websites, CD/DVD replicators, P2P networking companies, ISPs, colleges and universities to monitor, track, manage, filter and monetize multi-media digital content as needed.
For more information, visit Audible Magic’s website at www.audiblemagic.com or contact:
Audible Magic Media & Analyst Inquiries
Jay Friedman
Vice President of Marketing and Product Management
408-399-6405 x238
[email protected]