We're excited to announce we now enable over 150,000 songwriters to collect their publishing royalties worldwide!
The last few years have introduced more and more positive news for the music industry and the continued frequency at which it's being released is almost shocking after more than a decade of steady decline. Music industry organizations are announcing year-over-year revenue growth and there are no indications that this is slowing down. Other amazing industry news includes:
IFPI announced Global Recorded Music Revenues increase by 8.1%
German rights body, GEMA, tops a billion Euros in revenue for second year in a row
PRS For Music announced record financial results for 2017, an increase of 14.7% over 2016
The Copyright Royalty Board’s recent decision to increase streaming mechanical rates 43.8% over the course of the next five years will bring more revenue to the music publishing industry and the House’s unanimous vote on the Music Modernization Act as it moves to the Senate only brings even more positive news for songwriters and rights holders on the way music copyrights are treated and compensated.
We are thrilled to join this chorus of amazing industry news and share, along with an announcement by Techcrunch, that Songtrust has surpassed 150,000 songwriters, 20,000 publishers, and well over 1,000,000 copyrights -- up from 100,000 songwriters and 15,000 publishers we represented and administered publishing in just over a year ago. In fact, one out of every five new professional songwriters in the US touch the Songtrust platform today.
Songtrust’s global technology and creator-centered platform is fast becoming the best option for songwriters who value flexible terms and ease of use. We are focused on empowering songwriters and working with other companies who share our values and can use our development resources to power their businesses and creator relationships. Our recently announced agreement with ICE is further illustration of our intention as a company to continue optimizing our direct collections on behalf of our clients and reduce as many layers between the songwriter and the listener of their work.
We currently administer music publishing for clients in every state in the United States and 87 countries around the world. As Songtrust continues to grow, global focus will continue to remain top of mind.