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%.”
Audiam also announced it has launched its Omega platform, which it describes as “an intelligent audit system that collects, generates, and analyzes vast amounts of data about its client’s songs and how their songs earn money. Omega flags errors, conflicts, lack of payments, wrong split amounts and more,” according to the announcement.
The company says it will use the data generated by Omega to ensuring the money owed from digital services does not end up in the newly created Mechanical Licensing Collective’s black box where it is eligible to be given to others, via market share, in instances where the agency can’t match the songwriters and publishers to the recordings for which it receives reports and royalties from digital services.
In addition to hit songwriters, Audiam also represents and finds royalties for thousands of do-it-yourself songwriters. Moreover, it also does its extra level of scrutinizing to fund unmatched royalties for music publishers and administrators like Round Hill/Carlin Music Publishing, JM World Music/SAYCO, Maximo Aquirre Publishing/SACM, UnionPacific, Third Side Music Publishing, Clear Box Rights, Rough Trade Music Publishing, Songwriters Guild of America, Epitaph and Sumerian.
In a final announcement, the company said Jamie Purpora was named chief operating officer, president of copyright and royalty administration and will be based in a newly established Burbank office. His past experience includes working at Bug Music as a senior VP of administration and president of Tunecore’s music publishing operation.