Soundcloud has been working for months to secure deals with rights holders that will allow it to finally monetize its massive user-generated content. Today, it completed an important deal with music publishers.
This Rights Agreement will enable independent publishers and songwriters to receive royalties through the monetization of content that contains their compositions on SoundCloud. No details of the agreement were shared.
"This agreement ensures that when SoundCloud succeeds financially, so do the songwriters whose content draws so many users to their site," said NMPA CEO David Israelite. "I am thrilled that we could agree on terms that will benefit both creators and the SoundCloud platform that has brought online music access and creativity to a new level."
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