Jammber, a digital platform that helps artists track music projects and credits, has acquired music rights management company TuneRegistry for an undisclosed sum.
With the acquisition, the 6-year-old Jammber aims to ramp up its royalty management capabilities. The announcement comes just ahead of the launch of Jammber’s royalty-splitting app, Splits, and the Jammber Money payment platform.
“Everything we do is around getting music owners paid faster and more accurately,” said Jammber co-founder and CEO Marcus Cobb. “Music ownership is at the core of all aspects of music usage. Now we can democratize the process of ownership registration in new ways that can scale with the extraordinary growth the industry is experiencing.”
On TuneRegistry, rightsholders pay a subscription fee (starting at $15 per month) for the ability to self-register music rights ownership information directly with more than two dozen North American meta-data companies and PROs, including ASCAP, BMI and SESAC. Rightsholders who do this through a third party often lose up to 20% of royalties to administration fees, TuneRegistry claims, and may wait up to six months to receive royalty payouts. But on TuneRegistry, rightsholders keep 100% of their copyrights and royalties.
The company claims to have “thousands” of subscribers from more than 40 territories.
With the acquisition, TuneRegistry co-founder and CEO Dae Bogan will move over to Jammber as senior vp, global music rights. He’ll continue to oversee operations and product strategy for TuneRegistry, which becomes a wholly-owned subsidiary of Jammber.
“I have been following Jammber’s development and growth since they graduated Project Music and have become a huge fan of their approach and products,” Bogan shared. “For my co-founders — Kara McGehee and Shane Zilinskas — and me, Jammber’s mission to revolutionize the way in which music creators and rights-holders self-advocate in the complicated and evermore fragmented global music rights ecosystem resonates with our own.”