MI2N
Music Industry News Network
TUESDAY, JUNE 19TH
Advanced Search
MusicDish Advertising Network
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 04-17-2017

ASCAP, SACEM And PRS For Music Initiate Joint Blockchain Project To Improve Data Accuracy For Rightsholders

Bookmark and Share

Three of the largest member-owned collection societies in the world - ASCAP, the American Society for Composers, Authors and Publishers; SACEM, the Society of Authors, Composers and Publishers of Music; and PRS for Music - announced a groundbreaking partnership to prototype a new shared system of managing authoritative music copyright information using blockchain technology.

The societies are working together to model a new system for managing the links between music recordings International Standard Recording Codes (ISRCs) and music work International Standard Work Codes (ISWCs). Establishing robust links between these two pieces of data offers a practical solution with enormous potential for improving the processes of royalty matching, which will in turn speed up licensing, reduce errors and reduce costs.

The goal of the project is to prototype how the music industry could create and adopt a shared, decentralized database of musical work metadata with real-time update and tracking capabilities.

Under the initiative, data and technology teams from SACEM, ASCAP and PRS for Music are working with IBM, leveraging the open source blockchain technology from the Linux Foundation, Hyperledger Fabric, to match, aggregate and qualify existing links between ISRCs and ISWCs in order to confirm correct ownership information and conflicts. While still at an early stage, the project is proving to be an exciting reference point for future industry blockchain solutions.

Blockchain has become well-known for its use in payments systems for its ability to manage records without centralized governance - a characteristic that will be harnessed in this project to resolve conflicts between conflicting identifiers for the same work across multiple rights holders.

Jean-NoŽl Tronc, SACEM's Chief Executive Officer, said: "We are very excited about this joint initiative. SACEM's vision is to ensure a diverse and sustainable future for music, where creators are rewarded efficiently for their work. We have a long history of constant innovation and this partnership represents the next stage in that story.

"Through this partnership, we aim to develop new blockchain-based technologies that will tackle a long-standing issue with music industry metadata - a problem that has grown more acute as online music rights distribution has become increasingly decentralized with the rise in digital channels. By developing this blockchain technology in partnership with ASCAP and PRS for Music, we will unlock value to the benefit of music creators worldwide."

Elizabeth Matthews, ASCAP's Chief Executive Officer, added: "ASCAP is always looking for opportunities to exploit new technology platforms to specifically address the needs of our members and the music industry, which has been calling for greater transparency and accuracy.

"Blockchain has become well-known for its use in payments systems because of its ability to capture real-time data and transaction updates that can be shared with multiple parties, and in the process, dramatically improve operations by reducing costs.

"ASCAP is excited to partner with SACEM and PRS on this project on behalf of our members."

Robert Ashcroft, PRS for Music's Chief Executive, added: "Establishing authoritative copyright data has long been a goal of PRS for Music and is one of the biggest challenges the industry faces.

"Blockchain and distributed ledger technologies are opening up a world of new opportunities for all industries to address long-standing challenges. The digital market requires real-time reporting on behalf of multiple stakeholders across the world. If blockchain can help us achieve this, it will unlock opportunities for developers of new digital applications, increase accuracy of royalty payments and release value for rightsholders.

"We see huge opportunity for beneficial industry change and collaboration from this initiative."

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

2018 Summer Additions Come To Hybrid Studios

Plunky's "Love Makes Us Better" Video Is Cosmic Jazz-Funk

Deadline Looms - The 23rd Annual USA Songwriting Competition

Carys - A Different Kind Of Normal - Debut CD Release

Melvin Riley Of Ready For The World Celebrates 35 Years In The Music Business And The Re-launch Of His Solo Career And New Billing Title

Listen: Darquise Explores The Art Of The Beak Up In His Debut Single "I Say One"

Artist Matthew Schultz Releases "Promise For Keeps" Featuring Gyptian



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Capitol Studios Launches Online Mixing, Mastering And Vinyl-Cutting Services
» Audionamix Launches Pre-Sale For XTRAX STEMS Windows Version
» Hollywood Heavyweights Launch New Christian Music Label
» RADIO AND TV PERSONALITY GAZ REYNOLDS LAUNCHES NEW VLOG SERIES ON YOU TUBE
» National Indie Radio (WNIR) Is Open For Submissions
» Exactuals Adds Jeff Van Driel And Mark Montgomery To Advisory Board
» Edge Music Network Announces Partnership Agreement & Launch Of "Artist Pages"
» Deadline Looms - The 23rd Annual USA Songwriting Competition
» Japanese Prog Ensemble Yuka & Chronoship Announce The Release Of Their New Album SHIP
» Katie Garibaldi And Anna Haas Team Up Again And Win In IndieFEST Film Awards


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» Screen Music Connect To Explore The Music Of Film, Television And Interactive Media
» Fred Casimir To Develop BMG's Global Recordings Business
» 13 Music Label Sold To MTN
» CISAC 2018 Annual Report
» MusicDish Announces A Love Electric 2018 China Tour
» Darcus Beese Named President Of Island Records
» Avant-Garde Label Maybe Noise Launches In Beijing
» Award-Winning Lithuanian Rock Band Colours Of Bubbles "She Is The Darkness" 2018 China Tour
» Hollywood Heavyweights Launch New Christian Music Label
» Pop Artist Ava King Releases New Single
» NetEase Cloud Music Sign Distribution Partnership With B2 Music
» Skype And Mixcloud Launch "Connecting..." Podcast Series

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2018 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.