Audiam has expanded its expertise in mining YouTube revenue opportunities to offering its services to unlock revenues tied up at other digital services due to data problems gumming up proper accounting and payments.
Initially billed as a service that helped songwriters, labels and publishers find and claim user-generated videos on YouTube that used copyrighted songs and/or master recordings, Audiam now offers music publishers the ability to audit, administer, and license interactive, scant, and match lockers and other hybrid digital music services (including Spotify, Google Play, iTunes Radio and Match, Rdio, Deezer, Rhapsody, Beats Music Medianet, and Muve Music).
While publishers and labels are already dealing with such issues, Audiam CEO and founder Jeff Price says his company will augment such efforts. It's necessary, he adds, because the digital music industry currently exploits compositions in ways not anticipated by traditional copyright law or legacy administration systems.
“The existing mess of missing and bad data has misallocated or stopped payment of hundreds of millions of dollars owed to music publishers and artists,” Price claims. “The trick to finding and collecting money in the new digital music industry is matching metadata points, database architecture and copyright law . . . By fixing this problem, we are able to find, unlock, and administer huge amounts of money our customers would otherwise not have gotten, all while removing liability for the new music services.”
Audiam’s cloud-based music database technology finds and cross-references all necessary music metadata to identify and administer earned and un-allocated royalties, regardless of origin, format or country, according to the company. Once data get corrected, they can be applied to clean up problems with royalty payments at other services, Price says.
Moreover, Audiam’s systems can detect information conflicts and flag what changed in the data -- even when the data appear to be right -- that created the problem. For example, if a song's publishing claims add up to 100% one day, but the next day it adds up to 105%, an alert is triggered, allowing Audiam to investigate the data inconsistency.
So far Audiam has signed up clients such as Imagem, Dolly Parton, Jeorge Thorogood, Jason Braz, Epitaph Records and Victory Records' publishing companies, with more contracts pending. At the same time, Audiam -- which also includes in its management former Tunecore executives Peter Wells and David Willen -- reports an initial round of financing has brought in $2 million from investors including Jason Mraz, Epitaph Records founder Brett Gurewitz, artist manager and concert promoter Bill Silva, and Marc Geiger from William Morris Endeavor.
“Once you can identify the right data, it unlocks money that is out there sitting in blackboxes or has been misallocated,” Price says. “The end result is that anybody that is using Audiam will make a lot more money than they would have.”