Music streaming is about to become a bigger part of your income as Sound Cloud agrees to start paying royalties
Well just in time for Christmas, it looks like SoundCloud and PRS For Music have signed a settlement, to bring to an end their legal battle and even agreed to a new multi-territory licence.
The newly agreed music streaming licence covers the use of PRS for Music repertoire since the launch of SoundCloud and further supports their plans to introduce subscription and advertising across Europe in the new year. This is great news for independent music creators as they will now have another avenue for generating income from their music.
PRS for music released a statement the music streaming service saying, “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.”
“Many of our members love the SoundCloud service and I greatly appreciate their management’s willingness to work with us in the way they have”.
Alexander Ljung, founder and CEO of music streaming service 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.”
Do you see music streaming as a viable source of income as an independent artist.