Fintage House, a music publishing and digital rights management firm based in the Netherlands has made an investment in the U.K.-based Rights Agency Limited, which specializes in neighboring rights management.
Terms of the deal weren't disclosed but with its completion, the two companies will continue their respective mandates, individually serving their own client base while setting up shared services to build a global network. The companies will also share upgrades in IT and money collection methods to provide efficient rights collection and distribution services that will focus on accuracy, speed and transparency, according to the announcement.
Rights Agency Ltd. clients include Sir Paul McCartney, Phil Collins, Celine Dion, Eric Clapton, Pet Shop Boys, Andrew Watkins and Paul Wilson.
Fintage's client roster features artists such as Britney Spears, The Elvis Presley Estate, Anna Netrebko, Jason Mraz, The Black Eyed Peas and Foo Fighters.
Rights Agency Limited founder Damian Pulle is a veteran player in the neighboring rights business, a capability also offered by Fintage House. Not withstanding a just announced deal between Clear Channel and Big Machine Label Group in which the radio company has agreed to pay a sound recording performance right royalty to the label for the songs it plays, the U.S. doesn't yet collect sound recording performance royalties when songs are aired on radio, but that right is common in most countries around the world. So neighboring rights firms insure that royalties collected around the globe by performance rights societies for music and songs broadcast in such media as radio and television are collected and distributed back to the artists.
Fintage House music and neighboring rights collection services include representatives on the ground in every major company. Beyond neighboring rights, Fintage House also is involved in music publishing and digital rights and music licensing.
"I have known Damian for almost a decade and have a lot of respect for what he has built," said Fintage House co-CEO Niels Teves said in a statement. "We invested in RAL because we believe together we can achieve more for our clients on a global scale. Damian created the neighboring rights business line and put it on the map for clients. His development of this business, along with our 25 years of experience in servicing clients in Film and TV, makes this alliance the perfect fit."