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Toronto and New York – SOCAN and Audiam are working together to ensure that all songwriters, composers and music publishers receive their portion of the millions of dollars of unpaid YouTube royalties generated in the U.S., that they’ve rightfully earned from the use of their music in YouTube videos.
From March 1 until May 31, 2017, YouTube is opening a claim process whereby eligible entities can participate in a “Liquidation Agreement.” These entities can identify compositions that have earned synchronization royalties in YouTube from U.S. views between August 2012 and December 2015, and add missing information triggering the release and payment of the royalties.
The right of synchronization is the right to synchronize lyrics and melody to a moving image, such as a YouTube video. The royalties, currently held by YouTube in an escrow account, were generated from the share of paid advertising revenues from views of YouTube videos in the U.S. between August 1, 2012, and December 31, 2015.
One of the rights in YouTube videos is the “performing right” (the public use of music). Another right is the synchronization right. SOCAN looks after performing right and New York-based Audiam makes it possible for music rights holders to be paid for their identified synchronization royalties on YouTube. Audiam is wholly owned by SOCAN.
Claims Window Closing Fast
Through its agreement, YouTube has designated only three months to make claims on royalties. The process is open to all songwriters and music publishers who control the administration of the synchronization right in the US.
During this time, music rights holders can either affiliate with Audiam, which will do the work for them, or directly opt-in to the YouTube Liquidation Agreement to make claims, which must be completed by the end of February 2017. To make claims directly, rights holders must have exclusive control of their U.S. administrative synchronization rights to the composition(s) for YouTube.
As an added incentive, after May 31, 2017, any unclaimed royalties from the pool will be distributed by YouTube to participants based on market share data. For example, if $1,000,000 in royalties are not paid out due to missing information, and that information is not entered into the YouTube system by May 31, 2017, then the $1,000,000 is split between all of the other entities participating in the Liquidation Agreement.
Music creators and publishers should join Audiam to facilitate the collection and distribution of their YouTube royalties. Becoming an Audiam client is free, and an administration fee of 25 percent is applied to distributed royalties. SOCAN members are eligible to receive a special administrative fee of 20 percent.
Using its proprietary technology, Audiam specializes in getting its members paid from YouTube through: the identification and fixing of bad or missing composition data; finding sound recordings of compositions appearing in videos; and finding videos themselves on YouTube. Audiam clients like Metallica, Red Hot Chili Peppers, Bob Dylan, Jason Mraz, Round Hill Music Publishing, and many more, have already benefitted from Audiam’s work to receive more than $10,000,000 in YouTube past and present revenue.
By joining Audiam, music creators and publishers can take advantage of this short timeframe to claim retroactive royalties, as well future royalties earned on YouTube.
YouTube is the world’s largest online platform for listening to music in video. Automatically identifying music compositions in YouTube videos is almost impossible without using Audiam’s technology.
About SOCAN
SOCAN connects more than four million music creators worldwide and more than a quarter-million businesses and individuals in Canada. Nearly 150,000 songwriters, composers and music publishers are its direct members, and more than 130,000 organizations are Licensed To Play music across Canada. With a concerted use of progressive technology and a commitment to lead the global transformation of music rights, with wholly-owned companies Audiam and MediaNet, SOCAN is dedicated to upholding the fundamental truths that music has value and music creators and publishers deserve fair compensation for their work. For more information: www.socan.ca
About Audiam
Audiam currently represents the publishing catalogs of thousands of songwriters, composers and music publishers including Bob Dylan, Red Hot Chili Peppers, Metallica, Jason Mraz, Steve Miller, Hyvetown, Pretty Lights, Ruthless, Jimmy Buffett, Victory, Epitaph, Sumerian, Third Side and Round Hill Music. To date the company has recovered millions of dollars in royalties earned through YouTube, Spotify Apple Music and other streaming services. Through its unique technology, Audiam locates metadata for every sound recording of a specific composition, determines licensing status and recovers past revenue and assures future payments for the songwriters, composers and music publishers who have fairly and rightfully earned royalties. Audiam is wholly owned by SOCAN – the Society of Composers, Authors & Music Publishers of Canada.
Media Contacts
SOCAN: Andrew Berthoff, berthoffa@socan.ca
Chart Room Media (for Audiam): Brendan Gilmartin, Brendan@chartroommedia.com