February 11, 2014
SONY/ATV Renews Licensing and Royalty Distribution Agreement With BMI
Sony/ATV Music Publishing has today agreed to return licensing and royalty distribution authority to Broadcast Music, Inc. (BMI) for all categories of public performance uses. Consistent with a recent Federal Court ruling, the new agreement will leave current licenses and the flow of royalties to songwriters and publishers from hundreds of thousands of licensees undisturbed. The announcement was made today by Martin Bandier, Chairman and CEO of Sony/ATV Music Publishing, the world’s largest music publishing entity, and Michael O’Neill, CEO of BMI.
This new agreement provides stability to the music publishing copyright marketplace while affording an opportunity for BMI and music publishers to seek regulatory and legislative change to protect the value of copyright for songwriters, composers and music publishers alike.
“Sony/ATV is proud to renew our relationship with BMI, which will continue to license the world’s largest and most relevant music catalog to the hundreds of thousands of businesses that rely on music to drive their profits,” said Bandier. “In the current digital environment, it is critical that we reform the current system which does not fairly compensate songwriters and composers. BMI is an important player in this fight.”
“We appreciate the vote of confidence from Sony/ATV and the faith our writers and composers place in us every day as their trusted broker,” said O’Neill. “It is our privilege to represent the incredible writers and musical works in the Sony/ATV repertoire. We are dedicated to the mission to fairly value the rights of publishers and songwriters in today’s market.”
BMI is currently litigating streaming music license fee rates with Pandora. In addition to that suit, BMI has worked with songwriter and music publisher groups to fight for a level economic playing field across the music industry. As part of this effort, BMI, songwriters and music publishers are seeking a marketplace-driven environment to set fees for mechanical and public performance rights.
ABOUT SONY/ATV MUSIC PUBLISHING
Sony/ATV Music Publishing, established in 1995 as a joint venture between Sony and Michael Jackson, is the world’s leading music publisher. Together with EMI Music Publishing, Leiber Stoller, Mijac Music, Motown and the Famous Music catalogs, Sony/ATV owns or administers more than 2 million copyrights, including some of the best known songs ever written. Sony/ATV’s catalog includes “New York, New York,” “All You Need Is Love,” “You’ve Got a Friend,” “Moon River,” “Jailhouse Rock,” “The Mission Impossible Theme,” “Ain’t No Mountain High Enough,” “Over the Rainbow,” “Stand By Me,” “I Heard It Through the Grapevine” and “Singin’ in the Rain.” In addition, Sony/ATV represents the copyrights of such legendary artists as The Beatles, Leonard Cohen, Neil Diamond, Bob Dylan, Marvin Gaye, Michael Jackson, Carole King, Kraftwerk, Joni Mitchell, Willie Nelson, Roy Orbison, Queen, The Rolling Stones, Richie Sambora, Sting, The Supremes, Wyclef Jean, Hank Williams and Stevie Wonder, among others. Its ever-growing list of chart-topping artists, writers and producers includes Akon, Fall Out Boy, Jessie J, Norah Jones, Alicia Keys, Lady Antebellum, Lady Gaga, John Mayer, P!nk, RedOne, Shakira, Ed Sheeran, Stargate, Taylor Swift and Kanye West.
Broadcast Music, Inc.® (BMI®) is a global leader in music rights management, serving as an advocate for the value of music. BMI represents the public performance rights in more than 8.5 million musical works created and owned by more than 600,000 songwriters, composers, and music publishers. The Company negotiates music license agreements and distributes the fees it generates as royalties to its affiliated writers and publishers when their songs are performed in public. In 1939, BMI created a groundbreaking open-door policy becoming the only performing rights organization to welcome and represent the creators of blues, jazz, country, and American roots music. Today, the musical compositions in BMI’s repertoire, from chart-toppers to perennial favorites, span all genres of music and are consistently among the most-performed hits of the year. For additional information and the latest BMI news, visit http://www.bmi.com, follow us on Twitter @BMI or stay connected through Broadcast Music, Inc.’s Facebook page.
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Leah Lupo, BMI
Katie Schroeder, Rubenstein Communications