The US’s sixth biggest publishing company, SONGS Music Publishing, has inked a direct licensing deal with Pandora one month after Sony/ATV did the same.
The multi-year agreement, like the Sony/ATV deal, was described as ‘creating business benefits’ by Pandora.
Such benefits likely translate into giving the platform the flexibility to launch an interactive streaming service in 2016, using its recently-bought Rdio assets.
As for SONGS, whose signings include Lorde and The Weeknd (pictured), the upsides apparently include ‘modernized compensation’ – which likely translates into more money per stream for the company and its songwriters.
(Judging by what Sony/ATV boss Martin Bandier said after he’d agreed the firm’s new Pandora deal, anyway.)
“Now is the time to move past the over-regulation of songwriter rights and towards a market-based approach to streaming music,” said SONGS founder and CEO Matt Pincus.
“This agreement is a big step forward in a long conversation about fair and equitable compensation for all songwriters and publishers.
“I value Pandora‘s commitment to treating all songwriters and publishers equally and look forward to a new chapter with them.”
“Pandora has a long-standing commitment to independent songwriters,” said Brian McAndrews, chief executive officer of Pandora.
“This agreement with SONGS underscores that commitment and demonstrates our shared belief that all publishers and songwriters should receive equal treatment. Pandora is a leader in the space and we continue to improve value to music publishers and songwriters – a positive step for the entire industry.”
SONGS Music Publishing took a 5% share of the US market in Q3, according to Billboard.
Its roster of contemporary songwriters includes artists as The Weeknd, Lorde, Diplo, and DJ Mustard.
With its headquarters in New York City and Los Angeles, SONGS also has offices in London and Nashville.Music Business Worldwide
