By Bruce Houghton, Celebrity Access | (Hypebot) — SoundExchange will take over the collection and distribution of domestic and foreign private copy royalties to more than 500,000 rightsholders. What are private copy royalties? Private copy royalties are a patchwork of tariffs generated by the sales of devices and media like blank CDs as well as personal audio devices, automobile systems, media centers, and satellite radio devices that have music recording capabilities.
In an era where music streaming has replaced ownership, those royalties have been diminishing.
Still more than 500,000 musicians and rightsholders worldwide receive these royalties via the US based non-profit Alliance of Artists and Recording Companies (AARC).
The shift to SoundExchange is part of the digital PRO’s multi-year initiative expand its business by using data to streamline systems and increase efficiency across the music industry.
“We are committed to leveraging our best-in-class technology solutions to enhance the music ecosystem,” said Michael Huppe, President & CEO, SoundExchange. “Expanding into private copy royalty collection and distribution is just one step in our mission to make the business of music simpler and more efficient for creators.”
The Transition
SoundExchange plans to begin claiming international PC royalties in late 2021 and domestic PC royalties in February 2022.
> > > > > > > > >
Read the whole story here:
https://celebrityaccess.com/2021/07/13/soundexchange-moves-into-private-copy-royalties/