Music Publishers, Universal Sign “Groundbreaking” Licence DealPublished on 19 June 2012 @ 10:48 pm
Intellectual Property Watch
A trade association representing music publishers and songwriters today announced a model licensing deal with Universal Music Group that is expected to allow songwriters and publishers to share in the revenue from music videos. Universal is the first record label to make such an agreement, parties said.
“Under this license opportunity, music publishers will grant the rights necessary for the synchronization of their musical works with music videos, and, in return, receive royalties from these videos based on a percentage of UMG’s receipts,” the National Music Publishers Association (NMPA) said in a press release. “The agreement also enables songwriters and music publishers to receive retroactive compensation for past use of their musical works in UMG’s music videos.”
The release is available here.
The agreement also “provides songwriters and music publishers compensation for additional UMG product offerings including ringtones, dual disc, multi-session audio and locked content products,” the industry group said.
NMPA members can opt in to the agreement. Additional details will be available on the NMPA and Harry Fox Agency websites and sent directly to music publishers “in the coming weeks,” the group said.
“This is a model example of how record labels along with songwriters and music publishers can move forward together to ensure that the licensing process is more effective and efficient, and that all creators are fairly compensated,” said NMPA President and CEO David Israelite.