Sony/ATV Extends Agreement With Pan-European One-Stop-Shop SOLAR
Sony/ATV Music Publishing has extended the term of its deal with SOLAR, a pan-European one-stop-shop for Sony/ATV and EMI Music Publishing's Anglo-American repertoire.
The three-year agreement will see SOLAR continue to provide administration services for the publishing giant's license deals for its Anglo-American repertoire with digital services across Europe and other territories.
Launched in 2014, two years after Sony Corporation acquired a stake in EMI Music Publishing, SOLAR is a jointly-owned subsidiary of European collection societies PRS for Music (U.K.) and GEMA (Germany).
Prior to its formation, European digital services had to license EMI Music Publishing's Anglo catalog from CELAS (a JV between EMI, PRS for Music and GEMA) and Sony/ATV's Anglo repertoire from PAECOL (a JV between Sony/ATV and GEMA).
SOLAR brought the Sony/ATV and EMI Music Publishing catalogs together under one roof in the form of a single license for European services. Administration of the licences is carried out by PRS and GEMA in partnership with Pan-European digital rights hub ICE.
Sony/ATV chairman and CEO Martin Bandier said that extending the publisher's deal with SOLAR will "continue to make the licensing of our Anglo-American catalogue across Europe as efficient as possible while ensuring that our songwriters receive first-class administration services in the European digital market."
"This extension reflects the success of our partnership with PRS for Music and GEMA over many years as well as our close working relationship with SOLAR and long-term support for ICE," added Antony Bebawi, Sony/ATV's EVP digital and society relations international and UK. He went on to say that the parties' work together had allowed them to "steadily evolve and improve the administration services from which our songwriters now benefit."
"Long-term and stable partnerships such as this are rare and of great value in today's complex and highly dynamic music market," added SOLAR managing director Dr. Till Evert in a statement.
Praising Sony/ATV Music Publishing as "an ambitious partner who has time and time again set standards for the music market with its innovative technical solutions," Evert said SOLAR was "ideally positioned to meet the challenges of digital use and licensing of music for the next three years."
PRS for Music chief executive Robert Ashcroft called its collaboration with GEMA on the SOLAR venture the "cutting-edge embodiment of a modern and innovative approach to the administration of digital pan-European licensing."