The change in ownership from SOCAN to SESAC brings Audiam under the same roof as the Harry Fox Agency.
Audiam, an eight-year-old collection agency that helps rightsholders "license, police, audit, research, collect and distribute" unpaid royalties from YouTube and other services, was sold Wednesday to the performance-rights organization SESAC.
"This is another brick in the wall of the strategy of finding businesses to deliver superior value to rightsholders," says John Josephson, CEO of SESAC, which also owns the Harry Fox Agency. "Our plan is to continue broadening the scope of services we offer."
The sale allows Audiam's longtime owner, the Canadian rights-management group SOCAN, to retain a 15% stake in the company, according to a source close to the deal. Audiam, whose clients include Metallica, the Red Hot Chili Peppers and Jason Mraz, represented more than 1.2 million copyrights and had collected $120 million for songwriters and publishers as of 2019.