Berklee launches new initiative to help rights owners claim digital music royalties…
Today (June 13th) The Berklee College of Music have announced an Open Music Initiative (OMI) which aims to improve the identification and compensation process of digital music for rights owners.
The digital revolution has had profound effects on the music industry and this made compensating artists and rights owners for their works more difficult. With this new initiative in place, Berklee are hoping that this will help rights owners receive the rightful royalties for their content.
Panos Panay, co-founder of OMI and founding managing director of BerkleeICE, says….
“You’re performing live, you’re recording music, your music is being streamed on Spotify or it’s on YouTube. The amount of income streams that they have for any piece of music they create is bewildering, and there really is no simple way for you as a musician to know if what you’re getting paid is accurate.”
The majors: UMG, Sony Music, and WMG have joined alongside Streaming services: YouTube, Spotify, SoundCloud, Pandora and others to help with the efforts of building what Berklee calls ‘an open-source platform for tracking music creators and rights owners.’ Other participants who are backing OMI, include Downtown Music Publishing, Tunecore, CD Baby, Future of Music Coalition, and several others.
Jonathan Prince, Spotify’s Global Head of Communications and Public Policy, says…
“We think transparency across the entire music economy is essential to rewarding artists, songwriters and everyone involved in the creation of music fairly and rapidly and we’re really happy to be part of an effort that is exploring innovative ways to do that with new technologies.”
(Image by Daderot, Creative Commons, Public Domain)