PRS for Music announced Tuesday (June 26) that they have signed a long-term licensing agreement with song data hub Auddly, a deal that will improve the way data is registered and royalties are distributed to its members.
The partnership will enable PRS for Music songwriter, composer and publisher members to register more accurate composition data and royalty shares with the collection company at the point of creation and at a faster rate, through a new tool powered by Auddly. The tool will be made available for free to PRS members once launched in 2019.
“When I joined PRS for Music a few years ago, long before Auddly, I did so because I had the feeling that PRS were at the forefront of collecting societies. They seemed flexible and willing to adapt to future technologies and as I am a bit of a tech geek I like that. Well, I was right! I’m immensely grateful to PRS for sharing Niclas’ and my vision and I’m proud to be his partner in this great collaboration,” said PRS member and Auddly co-founder, ABBA’s Björn Ulvaeus.
“Björn Ulvaeus is one of the industry’s leading visionaries. With today’s trillions of individual streams on the internet, early and authoritative song registration are vital if songwriters and composers are to be properly paid for their creative works,” added Robert Ashcroft, chief executive, PRS for Music. “In founding and developing Auddly together with Niclas Molinder, Björn has made a massive contribution to all other songwriters, to add to his own legendary career as a creator himself. I would like to thank him, on behalf of all PRS members, for his vision and for his determination in developing Auddly.”
The deal will also inspire collaboration between music creators described as a “digital handshake,” which will enable creators to communicate among themselves to propose and agree share splits via the tool. This new tool will also make it possible for industry identifiers to be assigned at the same time, allowing both sets of data to travel along the value chain together.
“We are delighted to be working closely together with PRS to help songwriters and their music publishers manage their metadata efficiently, as we launch PRO integration in Auddly. Capturing this data accurately from the start enables PROs to attribute ownership shares to songwriters, so this is a significant step towards securing correct compensation. Early data identifiers are key to forming a sustainable music industry and this partnership is an important part of making Auddly the global reference point for all song metadata,” said Niclas Molinder, CEO and founder of Auddly.