SoundExchange and RightsFlow Team Up to Distribute $1 Million in Unclaimed Royalties
SoundExchange and RightsFlow Team Up to Distribute $1 Million in Unclaimed Royalties
WASHINGTON and NEW YORK, Nov. 3, 2010 /PRNewswire/ -- SoundExchange, the non-profit performance rights organization authorized to collect royalties for the digital performance of sound recordings, and RightsFlow, a leading licensing and royalty service provider, announced a new joint initiative to identify hundreds of recording artists collectively owed over $1 million in royalties.
Starting recently, RightsFlow began reaching out to artists for whom SoundExchange has collected royalties from digital services that have streamed their recordings online. RightsFlow matched SoundExchange's list of yet-unregistered artists and labels to its enterprise database as well as via users of Limelight, the company's online mechanical licensing utility. The match identified 1,675 artists and 63 labels with unclaimed funds at SoundExchange. RightsFlow subsequently has begun the notification process through email and direct outreach, encouraging those artists and labels to register to get paid.
"We're grateful to be able to work with exceptional partners like RightsFlow, who share our commitment to ensuring that creators are compensated for their work," said John Simson, Executive Director of SoundExchange. "We appreciate their efforts in reaching out to notify artists about their unclaimed royalties. RightsFlow understands the value of our work and has existing relationships with those artists and labels who can most benefit from registering with SoundExchange."
RightsFlow's Chief Strategy Officer/CFO Ben Cockerham added, "At the core of our DNA, RightsFlow exists to serve musicians and labels. We believe in building technology that drives efficient and accurate licensing transactions and revenue growth. We're extremely pleased to work with our esteemed partners at SoundExchange to help deliver digital performance royalty revenues to our artist and label clients."
When sound recordings are played on satellite radio, Internet radio or digital cable services, SoundExchange collects a royalty on behalf of the recording artists and the copyright holder, as directed under U.S. Copyright Law. Since 2001, SoundExchange has collected and paid out more than $412 million in digital royalties. Unfortunately, thousands of music professionals are not yet registered and millions in royalties are currently unclaimed.
The SoundExchange / RightsFlow partnership will continue to regularly match and notify those artists and labels with unclaimed money. Recording artists may register with SoundExchange, free of charge, to receive royalties. For information on registration, please visit www.soundexchange.com.
SOURCE RightsFlow
RightsFlow
CONTACT: Laura K. Williams, SoundExchange, +1-202-904-0512, lwilliams@soundexchange.com, or Michael Kauffman, RightsFlow, +1-646-461-6397, michael.kauffman@rightsflow.com
Web Site: http://www.soundexchange.com
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posted by EntertainmentNews @ 11:11 AM
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