New York, NY (Top40 Charts) BMG has announced it has secured the music industry's first licensing agreement with highly influential social media platform Pinterest in the US and Canada. The first agreement of its kind officially authorizes the usage of BMG's music and ensures its artists and songwriters will be fairly compensated for the use of their music on the wildly popular online platform. The deal follows previous industry trailblazing licensing agreements with Facebook (Meta) and Roblox, officially making BMG an exceptionally innovative pioneer in the field.
Boasting more than 430 million active global users, Pinterest is the premier visual discovery service designed for image sharing, animated GIFs and videos.
The deal is just the latest in a growing list of innovative 'industry-first' agreements BMG has secured on behalf of its clients with modern tech companies officially authorizing the usage of BMG's music and ensuring its artists and songwriters will be fairly compensated for the use of their music on popular online platforms.
Pinterest's platform enables its users to search for visuals creating ideas via its search function delivering photos and videos for everything from how-to videos for recipes, home and style inspiration, crafting ideas and much more. As music sits at the crossroads of technology and user engagement, the social media company has expanded its service to include and offer short-form content creation, allowing creators to include their favorite song(s) and share with other users, followers, and creators, in turn benefitting BMG artists and songwriters with each "pin" that incorporates their musical composition.
Keith Hauprich, BMG's US General Counsel & EVP, Business & Legal Affairs, said, "BMG's mission is to ensure that our artists and songwriters receive fair compensation for the usage of their musical works. As we continue to explore ways to maximize their income, our agreement with Pinterest is an excellent example of proactively seeking the highest-level of opportunity combined with providing the highest level of service for our clients."
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