New York, NY (Top40 Charts) Audible Magic, the leading provider of content identification solutions, announced its UGC
Music Rights Platform (UMRP), which simplifies the licensing and administration of music rights by social media networks that enable uploading of audiovisual content. Audible Magic's UMRP encourages greater use of licensed music, which substantially improves user experiences while creating new revenue streams for both social networks and music industry players.
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 consists of a set of new 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 the mechanisms to dramatically lower the cost of licensing and managing rights across multiple social networks.
"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."
The various services that make up the UMRP begin to roll out in Q4 of this year and into Q1 of 2020.
For more than 20 years, Audible Magic has innovated solutions to identify content, manage rights, and monetize media. Audible Magic's Emmy-winning automatic content recognition (ACR) technology powers billions of transactions monthly. The Silicon Valley pioneer is the trusted intermediary among rightsholders (including labels, studios, distributors, publishers, and collectives) and major platforms.
