The new initiative will create easier access for digital music services to clear music rights, and faster and more precise payments of royalties to rightsholders.
The hub is set to be the first multi-repertoire service to provide integrated ‘back office’ data processing services and ‘front office’ digital multi-territory licensing services to authors, publishers, other collective rights management organisations and digital service providers.
It has been developed to reduce licensing and distribution challenges currently inherent in the digital marketplace and represents a major step forward for co-operation between collecting societies.
The decision to approve the hub has been warmly welcomed by the joint venture partners and follows years of investment.
The societies said the benefits include: faster and more accurate invoicing and royalty payments, simplified licensing negotiations for digital music services operating across Europe, reduced processing costs and full transparency for all rightsholders.
The joint venture will also resolve issues related to split-copyright licensing by integrating back office processing and matching services with front office licensing services.
This will result in ensuring that its systems will record copyrighted works accurately, reducing the possibility of licensees receiving incorrect invoices and eliminating hold ups and disputes.
Robert Ashcroft, chief executive, PRS for Music said: ‘This is a very significant day for online music licensing as our new joint venture is uniquely positioned to deal with the rapidly transforming online music market.
‘What this clearance means is that we are now able to work even more effectively on behalf of songwriters, composers and their music publishers, while at the same time helping to develop the Digital Single Market across Europe.’
Karsten Dyhrberg Nielsen, chief executive, STIM, added: ‘Today’s Competition Clearance announcement is testament to the incredible work that has gone into the design of this new offering, which will provide a seamless service for both music rightsholders and pan-European digital service providers.
‘It’s the result of years of productive collaboration between STIM, GEMA and PRS for Music to deliver a solution that will help the digital market grow.’
Dr Harald Heker, chief executive, GEMA, said: ‘Our hub enables fluidity, agility and speed in the multi-territory market, facilitates the licensing process for digital service providers and improves the quality of rights administration for the benefit of rightsholders and users.
The JV constitutes an important new chapter for the whole rights management industry and a huge step forward towards the development of an EU-wide Digital Single Market for music.’
The hub is set to be the first multi-repertoire service to provide integrated ‘back office’ data processing services and ‘front office’ digital multi-territory licensing services to authors, publishers, other collective rights management organisations and digital service providers.
It has been developed to reduce licensing and distribution challenges currently inherent in the digital marketplace and represents a major step forward for co-operation between collecting societies.
The decision to approve the hub has been warmly welcomed by the joint venture partners and follows years of investment.
The societies said the benefits include: faster and more accurate invoicing and royalty payments, simplified licensing negotiations for digital music services operating across Europe, reduced processing costs and full transparency for all rightsholders.
The joint venture will also resolve issues related to split-copyright licensing by integrating back office processing and matching services with front office licensing services.
This will result in ensuring that its systems will record copyrighted works accurately, reducing the possibility of licensees receiving incorrect invoices and eliminating hold ups and disputes.
Robert Ashcroft, chief executive, PRS for Music said: ‘This is a very significant day for online music licensing as our new joint venture is uniquely positioned to deal with the rapidly transforming online music market.
‘What this clearance means is that we are now able to work even more effectively on behalf of songwriters, composers and their music publishers, while at the same time helping to develop the Digital Single Market across Europe.’
Karsten Dyhrberg Nielsen, chief executive, STIM, added: ‘Today’s Competition Clearance announcement is testament to the incredible work that has gone into the design of this new offering, which will provide a seamless service for both music rightsholders and pan-European digital service providers.
‘It’s the result of years of productive collaboration between STIM, GEMA and PRS for Music to deliver a solution that will help the digital market grow.’
Dr Harald Heker, chief executive, GEMA, said: ‘Our hub enables fluidity, agility and speed in the multi-territory market, facilitates the licensing process for digital service providers and improves the quality of rights administration for the benefit of rightsholders and users.
The JV constitutes an important new chapter for the whole rights management industry and a huge step forward towards the development of an EU-wide Digital Single Market for music.’
