Verifi Media has launched the Verifi Rights Data Alliance (VRDA) to streamline information collaboration.
Verifi Media says the VRDA creates an orchestra of definitive data, with each player maintaining its own information while collaborating to create a symphony of media intelligence. Four enterprise companies, from labels to publishers to PROs and DSPs are inaugural members of the VRDA.
Inaugural members include Warner Music Group (WMG), Spanish rights management entity Unison, digital service provider Deezer, and music distributor FUGA. Members of the VRDA are committed to building an orchestrated approach to data sharing to maintain the integrity of each contributor’s own information while granting VRDA members the permissioned ability to collaborate and easy update one another on ownership information.
As part of the VRDA, the members are launching an initiative that will enable data and change management as well as collaboration across the digital value chain by building a two-way data flow to and from DSPs and owners.
The initiative also facilitates the delivery and ongoing maintenance of better music rights data directly to DSPs and rights management entities or societies. Meanwhile, FUGA already went live with Verifi for ingestion of its clients’ data into the Verifi platform.
How It Works
Verifi’s engine ‘verifies’ data via normalization, enhancement, and scoring. Verifi also provides IRSC and ISWC matching services and works with members to create modules to greatly simplify and improve the accuracy of tasks such as catalog transfer and ingestion, benefitting copyright owners as well as artists and songwriters.
In addition, Verifi’s public data set will allow anyone to easily see who owns and represents particular songs, improving rights data transparency without sacrificing control of sensitive or proprietary information, such as splits.
Ken Umezaki, Co-Founder and CEO of Verifi Media says VRDA will help bring the music industry up to speed. “Launching VRDA is a huge step forward in our mission to allow data in the music business to travel at the speed of digital without requiring anyone to give up their proprietary information,” Umezaki says.
“This unprecedented global alliance across the recorded music industry verticals enables each members’ data to be accessible yet separate, speaking to each other across different standards and eliminating bad data, missed payments for rights-holders, and administrative headaches for labels, publishers, DSPs, PROs, and distributors.”