European Commission Approves Pan-European Online Music Rights Licensing And Processing Hub
PRS for Music (UK), STIM (Sweden) and GEMA (Germany) have been given clearance by the European Commission to form a joint venture and launch a pan-European online music rights licensing and processing hub to the market.
The hub will enable digital music service providers with easier access to music rights while also providing writers and their music publishers with faster and more accurate payments of royalties. This combined offering is the first of its kind and signifies a major breakthrough for collaboration between collecting societies.
ICE will support the new joint venture through its well-established and market-leading copyright services and provide other supporting services. Approval for the joint venture positions ICE at the heart of online music processing in Europe.
Approval also means that GEMA, the German collecting society will become an ICE shareholder and thereafter a customer of ICE. GEMA is an important partner to ICE and will be its largest customer.
Source: GEMA
Image credit: Creative Common License
