Audible Magic Monetizes Music On User Generated Content
Content ID solutions provider Audible Magic has launched its UGC Music Rights Platform (UMRP) which simplifies the licensing and administration of music rights for user generated content on social media.
Audible Magic’s UMRP encourages greater use of licensed music while creating new revenue streams for both social networks and rightsholders.
Licensing music for use in user-generated content (UGC) requires substantial investments in obtaining and managing licenses, which discourages many businesses from undertaking the effort. Audible Magic’s UMRP offers a turnkey solution for social networks, as it identifies copyrighted music, clears that music based on directly negotiated licenses, and provides the back-office services for royalty payment and reporting to licensors.
Audible Magic UMRP is a set of plug-and-play services for both social networks and rights holders. For record labels and music publishers, UMRP provides an enhanced license registration process combined with a content management system and usage reporting dashboard. These services provide mechanisms to lower the cost of licensing and managing rights across multiple social networks. They begin to roll out in Q4 of this year and into Q1 of 2020.
“This new platform leverages our strength in content identification technology, coupled with the trust we’ve built with rights holders,” said Vance Ikezoye, president and chief executive officer of Audible Magic. “We have spent the past three years working closely with the music industry to build a system that simplifies the use of music in UGC. This has been a long-standing issue for our customers, and we are excited to offer a fully featured solution to address it.”