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The British PRO aims to streamline royalty payments, revenue splits and song data capture with a tool developed by Swedish start-up Auddly
By IQ on 26 Jun 2018
UK performance rights organisation PRS for Music has agreed a long-term licensing agreement with Auddly, a start-up whose “digital handshake” technology the PRO will use to increase the speed and accuracy of its royalty payments.
The deal, says PRS, will enable its songwriter, composer and publisher members to capture their song and composition data – including agreement of shares – and register their works, with PRS at the point of creation, using a new tool powered by Auddly.
Auddly was co-founded by Abba’s Björn Ulvaeus, a PRS member who is the main investor in Auddly, and fellow Swedish hitmakers Max Martin and Niclas Molinder.
Its tool will enable creators to communicate directly among themselves to propose and agree share splits, cutting down on admin for publishers while capturing data in a consistent, standardised and transparent way for all interested parties, according to a PRS statement, preventing inaccuracies occurring as data travels along the value chain.
“Now’s the time for the world to realise that no one in the music industry is more important than us songwriters”
The new tool will also make it possible for industry identifiers such as ISWC (International Standard Musical Work Code) and ISRC (International Standard Recording Code) to be assigned at the same time, allowing both sets of data to travel along the value chain together.
“When I joined PRS for Music a few years ago, long before Auddly, I did so because I had the feeling that PRS were at the forefront of collecting societies,” says Ulvaeus. “They seemed flexible and willing to adapt to future technologies and, as I am a bit of a tech geek, I like that. [And] I was right.
“I’m immensely grateful to PRS for sharing Niclas’s and my vision and I’m proud to be his partner in this great collaboration. We share the goal to help songwriters get quick and fair payments and, not least, get credits whenever and wherever their songs are played. Now’s the time for the world to realise that no one in the music industry is more important than us songwriters. It all starts with a song!”
PRS agreed a new live music tariff of 4% – or 2.5% for qualifying festivals – with industry stakeholders last month, after three years of negotiations.
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