IODA Announces Groundbreaking Deal with SoundExchange; First Independent Aggregator to Administer and Distribute Digital Performance Royalties.
Under the terms of this arrangement, IODA will provide all necessary data to SoundExchange for the labels that opt to collect the copyright holder portion of the digital performance royalty through IODA. In addition to collecting future royalties, IODA will also administer distributions of past royalties on behalf of the labels that opt in to the service. IODA-distributed labels will be able to track royalties collected from SoundExchange alongside the rest of their digital royalty earnings via the Rightsholder Dashboard, IODA's web-based business management tool that enables labels to review licensing deals, manage catalog and account information, access sales and royalty reports, and approve and authorize digital distribution of their catalog.
"SoundExchange provides a tremendous service to rightsholders by making sure they are fairly compensated for digital performances," said IODA founder and CEO Kevin Arnold. "Many smaller labels have essentially been leaving this money on the table by not registering with SoundExchange. By integrating SoundExchange's payments into the Rightsholder Dashboard, IODA is pleased to be able to offer our label partners the ability to quickly and easily monitor all of their digital earnings in one central location."
"SoundExchange is pleased to be working with IODA to accomplish our mission: the distribution of performance royalties to all entitled record labels and featured performing artists at the most efficient cost possible," said John L. Simson, Executive Director, SoundExchange. "We appreciate IODA alerting their labels to this important new revenue stream."
IODA -- the Independent Online Distribution Alliance -- is the industry-leading digital distribution company for the global independent music community. IODA provides comprehensive services to record labels, physical distributors, and artists, including license negotiations; media encoding and metadata management; royalty payment administration and reporting; and promotional support through the IODA Digital Marketing division. Founded in 2003, IODA represents a rapidly expanding roster of over 300,000 tracks from more than 1,000 independent labels around the globe. The IODA catalog ranges from established classics to modern up-and-comers in all genres, including favorites such as Antony and the Johnsons, London Symphony Orchestra, Bebel Gilberto, Billie Holliday, They Might Be Giants, The Hives, The Wrens, Ryuichi Sakamoto, Van Morrison, and Fela Kuti. IODA distributes its client catalog to all major digital music services including the iTunes Music Store, RealNetworks' Rhapsody, MSN Music, Napster, Yahoo!, Sony Connect, MusicNet, eMusic, OD2, and over 150 other retail outlets. IODA was named one of FORTUNE magazine's 25 Breakout Companies for 2005. The company's web site is located at http://www.iodalliance.com.
SoundExchange is the first performance rights organization in the United States to collect and distribute digital audio transmission royalties to artists and sound recording copyright owners. SoundExchange represents over 1,000 different record companies and 12,000 recording artists, and is seeking out more labels and artists who are owed royalties for sound recordings played on digital cable and satellite television music services, satellite radio services or streamed via noninteractive webcast. The nonprofit organization is governed by a board of artist and label representatives. Services include track level accounting of performances to all members and collection and distribution of foreign royalties to all members. All artists, labels and/or their representatives are invited to visit www.soundexchange.com.
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|Date:||Jan 18, 2006|
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