Audible Magic Surpasses 100 Million Tracks
Audible Magic the First to Surpass 100 Million Music Tracks
Comprehensive rights-managed music catalog supports streaming, download, fitness, UGC, and other branded services
Los Gatos, Calif. – Feb. 23, 2021 – Audible Magic announced their rights-managed catalog has surpassed 100 million tracks, a first in the space. This milestone gives Audible Magic the largest business-to-business rights-managed catalog available.
The impressive catalog, which contains tracks from over 400,000 labels, is part of the long-established MediaNet content fulfillment and rights administration business purchased by Audible Magic in January 2021. Audible Magic is now the leading provider of content identification, licensing, media fulfillment, and rights administration services to digital music and social media platforms.
The catalog is a result of close relationships with record labels and publishers built over 20+ years of successfully launching music services around the world. It also required the development of a sophisticated rights management platform to take account of the constant changes in rights ownership, and the accelerating numbers of new tracks being released. In 2020 alone, Audible Magic saw a 67% increase in new releases added to their catalog, ingesting, on average, 12,000 new albums every day. This is a massive undertaking and is unmatched in the industry.
Coupled with a 100M tracks catalog, digital platforms can access a variety of Audible Magic’s turnkey music licensing solutions for a variety of services including fitness applications, short-form video, streaming, and downloads. Additionally, Audible Magic’s flexible solutions enable platforms to leverage their own licenses as well as Audible Magic’s pass-through licenses when applicable.
“We are excited to offer an exhaustive music catalog that provides tracks from major and indie labels across an array of territories throughout the globe,” said Vance Ikezoye, chief executive officer of Audible Magic. “Coupled with our services, our customers can focus on creating incredible user experiences, while we take care of the arduous task of rights administration and royalty payments.”
About Audible Magic
For more than 20 years, Audible Magic has innovated solutions to identify content, provide fulfillment solutions, manage rights, and monetize media. Audible Magic’s Emmy-winning automatic content recognition (ACR) technology powers billions of monthly transactions. The Silicon Valley pioneer is the trusted intermediary between major platforms and rightsholders (including labels, studios, distributors, publishers, and collectives). The company works with a wide range of platforms and rights holders, including Facebook, Twitch, SoundCloud, Dailymotion, ShareChat, Vimeo, NBC Universal, Universal Music Group, Sony Music Group, Warner Music Group, The Orchard, CDBaby, and DistroKid. For more information, visit https://www.audiblemagic.com/.
Audible Magic Acquires SOCAN's MediaNet - Hypebot
Canadian PRO SOCAN has sold its global content fulfillment and rights administration service MediaNet to Audible Magic.
Read the full article by Hypebot here.
Audible Magic acquires rights administration business MediaNet from SOCAN - RightsTech
SOCAN and Audible Magic have also announced they have entered into a strategic partnership with the goal to use Audible Magic technology and services to help SOCAN improve operational accuracy and reporting to publishers and songwriters. Financial terms of the deal were not disclosed.
Read the full article by RightsTech here.
Audible Magic Acquires Rights Administration Business MediaNet from SOCAN - Music Business Worldwide
Digital content identification, licensing, and monetization platform Audible Magic is acquiring content fulfillment and rights administration business MediaNet from Canadian performing rights organization, SOCAN.
SOCAN and Audible Magic have also announced they have entered into a strategic partnership with the goal to use Audible Magic technology and services to help SOCAN improve operational accuracy and reporting to publishers and songwriters.
Read the full article by Music Business Worldwide here.
Frequently Asked Questions regarding Audible Magic’s Acquisition of MediaNet’s Business
On Monday, January 11th, 2021, Audible Magic and SOCAN announced that the companies had entered into an agreement to transfer SOCAN’s content fulfillment and rights administration business to Audible Magic.
Understandably, many content partners and customers of both MediaNet and Audible Magic have questions about what this means to their day-to-day interactions and services they may have been receiving from each company. We hope that the information below will provide some guidance, but always, feel free to reach out to us for further information. Both teams remain fully committed to our content partners and customers.
When does this acquisition go into effect?
The acquisition will be effective as of January 6, 2021.
Why is Audible Magic making this acquisition?
This acquisition enables Audible Magic to offer a unique one-stop-shop solution for digital service providers and UGC hosting platforms looking to manage copyrighted content. Audible Magic will be able to offer licensing, rights management, and royalty administration as well as industry-leading content identification services.
What are the benefits to Audible Magic customers?
Current Audible Magic customers will now have access to a full suite of content management services including licensing, rights management, royalty administration, and media fulfillment.
What are the benefits to MediaNet customers?
MediaNet customers will gain access to the gold standard in content identification services so important for accurate attribution of copyright, licensing, rights administration, and reporting.
Will there be any changes to the services provided to MediaNet or Audible Magic customers?
Both Audible Magic and the MediaNet teams remain committed to all existing customers with the same level of support.
Are there changes to my contacts at MediaNet or Audible Magic for business or technical issues?
We do not intend to change your primary business contacts currently. If you do have any questions, please contact us at [email protected]
Will there be changes in how content partners should deliver content feeds?
There will be no immediate changes in how a content partner sends feeds to either Audible Magic or MediaNet. However, we will be looking into options to make the process easier for our content partners moving forward.
Will there be any changes to the processing of royalty payments or accounting reports?
The processes currently in place will continue as before the acquisition. As the two companies merge, we will be looking for opportunities to provide improved processes to benefit our content partners and customers. If you have any questions, please contact us at [email protected].
Are there changes planned to MediaNet customer billing and invoicing for services?
Yes, invoices will be issued with an Audible Magic logo starting in January. You will have access to your invoices and statements via an online portal. You will receive a link via email to set up your account within the portal, as well as a user guide for questions and assistance. Remittances should be made per the instructions on the invoice.
Audible Magic Acquires MediaNet’s Business from SOCAN, Integrating UGC & Premium Music Solutions
Audible Magic to offer “one-stop-shop” for music licensing and copyright compliance
Los Gatos, Calif. – Jan. 11, 2021 – Audible Magic and SOCAN announced the companies have entered into an agreement to transfer SOCAN’s content fulfillment and rights administration business of MediaNet to Audible Magic. Audible Magic is the leading provider of identification and compliance solutions to social networks hosting user-generated content (UGC). SOCAN is the Canadian performing rights organization. MediaNet has a long history of delivering turnkey white label digital music solutions for Internet radio, subscription music services, on-demand streaming, and support for fitness and gaming applications. With this acquisition, Audible Magic can now provide digital platforms a comprehensive range of services to enable and manage the use of music.
Audible Magic provides solutions for music licensing, content identification, and rights management to social media platforms. This acquisition extends its capabilities to deliver bespoke licensing from hundreds of labels and publishers, media files for more than 92 million tracks, full rights management, and royalty and payment administration. This portfolio of services will enable social platforms to more easily exploit the opportunity for both music in UGC and premium content. According to a recent MIDiA Research report, The Rising Power of UGC, there is a projected $6 billion opportunity in the appropriate use of audio and video for streaming of music in UGC alone.
“Rightsholders and platforms will both benefit from our combined solution and will reduce the time and complexity of managing and paying for the use of music,” said Vance Ikezoye, Audible Magic chief executive officer. “We see significant upside in enabling incremental revenues for the music ecosystem.”
SOCAN and Audible Magic also announced they have entered into a strategic partnership with the goal to use Audible Magic technology and services to help SOCAN improve operational accuracy and reporting to publishers and songwriters.
“The acquisition of the MediaNet services by Audible Magic creates long-term benefits for SOCAN’s members and clients,” said Jennifer Brown, Interim CEO of SOCAN. “Audible Magic is a knowledgeable and skilled company and we’re looking forward to working together to improve the accuracy of reporting to publishers and songwriters.”
SOCAN acquired Seattle-based MediaNet in 2016. By legal agreement, terms of Audible Magic's acquisition are confidential.
About Audible Magic
For more than 20 years, Audible Magic has innovated solutions to identify content, manage rights, and monetize media. Audible Magic’s Emmy-winning automatic content recognition (ACR) technology powers billions of monthly transactions. The Silicon Valley pioneer is the trusted intermediary between major platforms and rightsholders (including labels, studios, distributors, publishers, and collectives). The company works with a wide range of platforms and rights holders, including Facebook, Twitch, SoundCloud, Dailymotion, ShareChat, Vimeo, NBC Universal, Universal Music Group, Sony Music Group, Warner Music Group, The Orchard, CDBaby, and Distrokid. For more information, visit https://www.audiblemagic.com/.
About SOCAN
SOCAN is a rights management organization that connects more than four-million music creators worldwide and more than a quarter-million businesses and individuals in Canada. More than 160,000 songwriters, composers, music publishers, and visual artists are its direct members, and more than 100,000 organizations are Licensed To Play music across Canada. With a concerted use of progressive technology and unique data as well as a commitment to lead the global transformation of rights management, SOCAN is dedicated to upholding the fundamental truths that music and visual arts have value and creators and publishers deserve fair compensation for their work. For more information: www.socan.com.
Contact:
Adriana Saldaña
Sterling Communications for Audible Magic
+1 408-395-5500