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Business News (more headlines) 05-24-2014

LyricFind Strikes Groundbreaking Lyric Rights Deal With Universal Music Publishing Group

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LyricFind, the world's leader in legal lyric solutions, announced a deal with Universal Music Publishing Group (UMPG) to be the sole third party able to administer future licenses for lyrics controlled by UMPG (UMPG retains the right to do direct licenses). LyricFind's deal with UMPG, one of the world's leading music publishers, solidifies its position as the number one lyric rights management company in the world.

The contract, which is in effect as of May 1, 2014, not only allows LyricFind to search, display, distribute, transmit, and reproduce the lyrics of the roster of songwriters under UMPG's umbrella, it also allows LyricFind to sublicense for display and sync to music sites, services and apps across the internet. UMPG songwriters will receive a share of the revenues generated by LyricFind.

Darryl Ballantyne, CEO and founder of LyricFind, commented: "We couldn't be more excited to have UMPG's lyrics as part of LyricFind's diversified offerings. Lyrics is one of the most popular search terms online, and we've seen increased integration of lyrics into websites, music services and applications since we first launched in 2004. For publishers like UMPG, LyricFind's proven, quality controlled database and web services make it simple to reach services across the world in need of lyrics, and most importantly, easily manage the revenue stream from opening up those services."

LyricFind's deal with UMPG expands its already extensive catalogue, further establishing it as the most complete catalogue of lyrics in the world. LyricFind also created a quality-controlled vetted database of those lyrics available for licensing. Behind the scenes, LyricFind tracks, reports, and pays royalties to those publishers on a song-by-song and territory-by-territory basis.

With this deal, LyricFind will now be offering its solutions to clients in 30 significant territories including USA, Canada, Mexico, Brazil, UK, France, Italy, Germany, Spain, Finland, Norway, Sweden, Ireland, Australia, New Zealand, China, Japan, Korea, Russia and India, with additional countries being added soon. Clients of LyricFind include Amazon, Pandora, Shazam, SoundHound, HTC, Nokia, SongMeanings, and LyricsMode, and these global deals will allow such services to hugely increase the catalogue of lyrics that they can showcase for their customers.

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