Songtrust announced that is now administers 50,000 songwriters, 20,000 music publishers and more than 1,000,000 copyrights. That's up from 100,000 songwriters and 15,000 publishers just over a year ago.
Songtrust currently administers music publishing for clients in every state in the US and 87 countries.
Songtrust's surge as a technology focused, artist centered company comes at a time of positive change for songwriters and publishers. Not only is streaming revenue driving a resurgence in the recorded music industry, but The Copyright Royalty Board recently increased streaming mechanical rates 43.8% over the next five years. The U.S. House’s unanimous vote on the Music Modernization Act and yesterday's introduction of the bill in the Senate should also lead to more good news for songwriters and rights holders on how music copyrights are treated and compensated.
Songtrust also recently cut a deal with with pan-European licensing hub ICE to provide a range of ge of digital licensing and back-office royalty processing services.