New York, NY (Top40 Charts) Pandora (NYSE:P), the world's most powerful music discovery platform, and Warner/Chappell Music, the global music publishing company of Warner
Music Group, today announced a multi-year licensing agreement for Warner/Chappell Music's catalog of musical works. This direct publishing deal creates business benefits for Pandora, while modernizing compensation for Warner/Chappell
Music and its songwriters in the U.S.
"It is Warner/Chappell's top priority to make sure our songwriters are prospering both creatively and commercially, and that the value of their music is properly recognized," said Jon Platt, chief executive officer, Warner/Chappell Music. "We look forward to seeing our songwriters benefit from this new agreement with Pandora."
"We are thrilled to partner with Warner/Chappell Music, which has represented many of the most talented songwriters for over 200 years," said Brian McAndrews, chief executive officer, Pandora. "Pandora is proud to be part of their tradition of maximizing the value of music publishing and talent."
While specific terms of the multi-year agreement are confidential, the companies worked together to build an innovative approach to publisher economics. The deal allows Warner/Chappell
Music to obtain its goal of delivering improved performance royalties for its songwriters, while
Pandora will benefit from greater rate certainty and the ability to add new flexibility to the company's product offering over time. The royalties paid by
Pandora to sound recording owners are not affected by this agreement.
ABOUT PANDORA
Pandora is the world's most powerful music discovery platform - a place where artists find their fans and listeners find music they love. We are driven by a single purpose: unleashing the infinite power of music by connecting artists and fans, whether through earbuds, car speakers, live on stage or anywhere fans want to experience it. Our team of highly trained musicologists analyze hundreds of attributes for each recording which powers our proprietary
Music Genome Project®, delivering billions of hours of personalized music tailored to the tastes of each music listener, full of discovery, making artist/fan connections at unprecedented scale. Founded by musicians,
Pandora empowers artists with valuable data and tools to help grow their careers and connect with their fans.
ABOUT WARNER/CHAPPELL MUSIC
Warner/Chappell Music, the global music publishing company of Warner
Music Group, is home to a wide array of legendary songwriters and a rich catalog of contemporary hits and influential standards. With offices in more than 40 countries, Warner/Chappell provides deep expertise across a range of creative services and the most innovative opportunities for songwriters and copyright holders. Warner/Chappell, which has a history dating back more than 200 years, currently publishes and administers music from Barry Gibb, Beyoncé, Bruno Mars, Eric Clapton, fun., Gamble & Huff, Green Day, Jay Z, Katy Perry, Kendrick Lamar, Led Zeppelin, Lionsgate Films, Madonna, Miramax Films, Muse, Radiohead, Red Hot
Chili Peppers, R.E.M, Roc Nation, Stephen Sondheim,
Timbaland and Tove Lo, among many others.
