TuneCore Deals Help Collect Digital Royalties In Brazil, Greece
October 31, 2014 at 12:52 PM (PT)
TUNECORE MUSIC PUBLISHING ADMINISTRATION announced the completion of two new sub-publishing agreements for new revenue-collecting opportunities in BRAZIL and GREECE. The deals with independent publishers BASEMENT BRAZIL EDITORIA MUSICAL and D-VERSION MUSIC PUBLISHING, respectively, will enable songwriters who use TUNECORE MUSIC PUBLISHING ADMINISTRATION to receive royalty payments when their compositions are performed, downloaded, streamed and sold.
The agreements with BASEMENT and D-VERSION give TUNECORE the ability to register songwriters' compositions with the local societies responsible for local royalty collection. Once a composition is registered, the royalties collected by the society on behalf of the songwriter will be collected and redistributed by TUNECORE. Without a publishing administrator, these earned royalties would be virtually impossible for independent songwriters to collect from the local society.
Both BRAZIL and GREECE hold particularly high growth potential. BRAZIL continues to be a fast-growing music market, as indicated by TUNECORE artist revenues increasing 147% in 2013 vs. 2012.
"As two fiercely-independent companies dedicated to supporting independent artists and songwriters, TUNECORE and BASEMENT are a natural fit," stated BASEMENT Co-Owner JOHN TELLER. "We are honored to have been chosen by TUNE CORE to be their sub-publisher in BRAZIL and to play an important role in their ongoing mission to help get music out and monetized around the world."
According to IFPI, digital music revenues in GREECE represented 28% of the country's total music revenues in 2013 and are projected to grow at a rate outpacing that in the U.S.
"All of us at D-VERSION are very excited to work with a game-changing company like TUNECORE," commented D-VERSION owner DENISE ANDRIKOPOULOU. "As the world of music publishing in the digital distribution era continues its evolution, it's partnerships like ours that will ensure songwriters from around the world are able to get their hands on their hard-earned royalties."
"Digital distribution has made the music industry truly global, yet the model of royalty collection and payment remains localized," stated TUNECORE MUSIC PUBLISHING ADMINISTRATION President JAMIE PURPORA. "At TUNECORE, we're focused on ensuring artists and songwriters can take advantage of the worldwide opportunity. It's partners like BASEMENT and D-VERSION that help us to make that a reality."