BMI & ASCAP Tag Team Licensing! | MUSIK !D TV NEWS
In late 2018, BMI and ASCAP plan to launch a new musical works database to offer more transparency to music users and the industry.
BMI and ASCAP are working with copyright and tech experts to analyze data from each of their current systems for inaccuracies in registrations, and share splits, ownership disputes and complications related to international works.
This new musical database will have the same information that’s available on ASCAP's Ace Repertory and BMI's Repertoire Search such as song and composition titles, performing artist info, aggregated shares broke down by societies, unique identifiers like the International Standard Work Codes and IP names and numbers.
"ASCAP and BMI are proactively and voluntarily moving the entire industry a step forward to more accurate, reliable and user-friendly data," said ASCAP CEO Elizabeth Matthews in a statement accompanying the announcement. "We believe in a free market with more industry cooperation and alignment on data issues. Together, ASCAP and BMI have the most expertise in building and managing complex copyright ownership databases. With our combined experience, we are best positioned to make faster headway in creating a robust, cost effective market solution to meet the needs of the licensing marketplace."
BMI president and CEO Mike O'Neill deems the database as an "important solution," adding, "We have always advocated for data transparency and supported the need for a user-friendly and comprehensive solution that would benefit music users and music creators alike. While BMI and ASCAP remain fierce competitors in all other regards, we recognize that our combined expertise allows us to create the best solution for our members and the marketplace. We’re excited by our momentum and the promise of what this database can become in the future."
What do you think about BMI and ASCAP’s joint venture? Let us know in the comments section.
