Audiam, which represents over 1.2 million copyrights for music publishing royalty collections, says it has collected over $120 million in the last four years for its clients, which include such songwriters as Bob Dylan, Metallica, Red Hot Chili Peppers, Jimmy Buffet, and Jason Mraz.
Moreover, over 15% of the money collected comes from "recovered royalties that were earned in the past, but not paid," according to the announcement.
"When we launched Audiam we discovered that many compositions were not licensed, the ones that were licensed had non-compliant and inaccurate statements with over 80% of the recordings of a composition not getting paid on, "Audiam CEO Jeff Price said in a statement. "We changed that by creating a first of its kind big data analysis and business logic system to display not only how a song is being used and what it earns, but also identify where the holes and lack of payments are. With these systems in place we have recovered tens of millions of dollars for songwriters and music publishers and increased their new revenue by over 15% - 30%."