Soundcloud has reached an agreement with the PRS and agreed a new multi-territory licence.
A little while ago we reported that Soundcloud was under threat as they faced legal battles including a fight with PRS.
We now understand that Soundcloud has secured a license with PRS which allows them to use the PRS for Music repertoire. The license also means that all music uploaded since Soundcloud launched is covered. There are still lots of questions to be answered including how much Soundcloud have agreed to pay but this is defiantly a big sep in the right direction and helps secure the future of the service.
Robert Ashcroft, Chief Executive of PRS for Music said:
“On behalf of our members, I am pleased that we have been able to reach a settlement with SoundCloud without extended legal proceedings. This ends over five years of discussions on the licensing requirements for the platform, resulting in a licence under which our members are fairly rewarded for the use of their music.
“The safe harbours in current legislation still present ambiguity, and obstruct the efficient licensing of online services, but our agreement with SoundCloud is a step in the right direction towards a more level playing field for the online marketplace.”
Alexander Ljung, founder and CEO of SoundCloud, said:
“SoundCloud is a platform by creators, for creators; we’re working hard to create a platform where all creators can be paid for their work, and already have deals in place with thousands of copyright owners.
“PRS for Music is also fully committed to creators, and we’re pleased to have reached an agreement that will expand revenue opportunities, improve the accuracy of royalty distributions, and launch new services for our 175 million monthly active listeners on SoundCloud in 2016.”
It seems like Soundcloud is here to stay!
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http://Soundcloud.com/Soundplate
Source: Music Business Worldwide.