SoundCloud and Sony/ATV pen European licensing deal
Rightsholders will receive revenue whenever their work is played on the streaming platform
Good news for songwriters as a "multi-territory agreement for Europe" has been agreed between SoundCloud and Sony/ATV.
This means creative and revenue benefits will be maximised, according to Sony's CEO Martin Bandier, with rightsholders being paid whenever their work is played on the streaming platform.
Following previous licensing agreements with Warner Music Group, Universal Music Group and Sony Music Entertainment, SoundCloud's Alexander Ljung described the deal as an integral development.
He said: "Our agreements with major partners are a significant part of achieving our ambition of allowing all forms of creative expression to live on our platform, while simultaneously ensuring rightsholders’ work is rewarded and respected."
The deal follows the United States launch of the paid subscription service SoundCloud Go, with it set to arrive in Europe at some point this year.
[Via: Billboard & Financial Times]
Dave Turner is Mixmag's Digital News Editor, follow him on Twitter
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