ASCAP and PRS for Music have partnered up with Swedish song data management platform Auddly to help with its continued work of solving metadata issues in the music industry – which often result in artist royalties ending up in the wrong place.
Co-owned by hit-makers Max Martin and ABBA’s Björn Ulvaeus, the platform empowers music creators to get the payments and credits they’re due.
Currently, an estimated 20% of all publishing revenue from digital streaming is lost due to inadequate song metadata, which the platform aims to solve by making it easier for artists to log all song information.
Karen Buse, executive director of membership and international at PRS for Music said the society is ‘delighted’ to support Auddly, adding: ‘Auddly has real potential in the revolution that is taking place in the industry, offering a new tool to address the data challenges that processing in the online era brings.
‘It will ultimately enable the release of greater value for rightsholders, negating some of the effort involved in correcting errors and resolving disputes.’
The deal will enable ASCAP and PRS for Music – as well as Auddly’s Swedish counterpart STIM – to access data from one secure and transparent reference point. This will prevent conflicting or missing data and therefore ensure accurate payments for all.
Auddly founder and CEO, Niclas Molinder, said that as a result of the partnership, Auddly is well on the way, ‘to unlocking the future of a sustainable music industry to the benefit of all music creators.’