SESAC Music Group has entered into a global rights management agreement with the Korean Society of Composers, Authors, and Publishers (KOSCAP).
As part of the deal, SESAC Performing Rights has chosen Seoul-based KOSCAP to represent its repertoire in South Korea.
With this move, SESAC has become one of the first PROs to move its repertoire from the long-established Korea Music Copyright Association (KOMCA), which has operated in the market since 1964.
The catalog of the Harry Fox Agency will follow suit and be licensed and administered by KOSCAP, effective January 2025.
KOMCA rival KOSCAP was formed in 2014 and approved by the Ministry of Culture, Sports and Tourism (MCST) in order to increase competition and extend the rights of music creators in the South Korean territory.
Additionally, Audiam has entered into an exclusive agreement with KOSCAP to administer its music publishing repertoire in the United States.
This agreement includes collections of its US mechanical rights royalties along with audiovisual digital rights including YouTube and other platforms which incorporate music.
Streaming royalties collection agency Audiam, acquired by SESAC Music Group in 2021, leverages big data and technology to locate metadata for the sound recordings of compositions.
According to SESAC Music Group, with its proprietary technology and an “expert music royalty administration team”, Audiam collects what it calls “the difficult-to-find digital royalties for the world’s top music publishers and record labels”.
“We are excited to provide accurate, efficient and transparent service for the management of SESAC repertoire in Korea.”
Charles Park, KOSCAP
Charles Park, COO of KOSCAP and previous CEO of Warner Chappell Music Korea, said: “It’s a great honor to partner with SESAC, a global leader with a world-class catalog and one of the premier Performing Rights Management organizations in the world, along with Audiam’s innovative technology to administer our catalog in the US.
“We are excited to provide accurate, efficient and transparent service for the management of SESAC repertoire in Korea.”
“We’re thrilled to take this important step in partnering with KOSCAP for SESAC Performing Rights repertoire and Audiam for US digital collection rights.”
Alexander Wolf, SESAC Music Group
Alexander Wolf, President of International for SESAC Music Group, added: “We’re thrilled to take this important step in partnering with KOSCAP for SESAC Performing Rights repertoire and Audiam for US digital collection rights, enhancing our international platform and following on the footsteps of our collaboration with the Asian societies through AAMRO, as well as our historic partnership with Soundreef in Italy.”Music Business Worldwide
