Music Publishing News Roundup: NMPA Solidifies Licensing Deal With SoundCloud, Jon Platt Receives Visionary Award, Spotify Raises Additional $350 Million
This week in Music Publishing News, Spotify raises the first $350 million of what is projected to be a $900 million fundraising campaign, the NMPA finalized a licensing deal ensuring better compensation for songwriters, and Jon Platt receives the Visionary Award.
The NMPA has finalized their licensing deal with SoundCloud as of this week, with the effort to benefit the independent music publishers and songwriters a part of the organization. This deal ensures that if SoundCloud were to profit from the songwriters that put up their creative works on the website, then so do the songwriters. This is a great mark in the music industry as it benefits both the SoundCloud platform as well as the many talented songwriters who deserve proper compensation.
Warner/Chappell North America president, Jon Platt, has received the “Visionary Award” this past Monday at the New York Public Library in Manhattan. Jon Platt has either signed, developed, or worked with big time artists such as Jay-Z, Kanye West, Drake, and many others. He is an industry professional that has worked hard to become what he is today and has some significant experience in the music and publishing world. Read more about what he has to say about his award and experiences throughout his career.
Spotify just raised another $350 million and the total funding is estimated to around the ballpark of $900 million. This news has come around for Spotify at the perfect time since it’s calculated losses from the years 2010 through 2013. Through this advancement, the company’s overall value has been determined as a little over $8 billion.