Spotify Acquires Loudr! | MUSIK !D TV NEWS
On April 12th, Spotify has obtained music licensing company Loudr to assist clarify and streamline its ability to record and compensate royalties to music publishers. Loudr formally started in 2009, then rebranded in 2013. This licensing company provides mechanical rights and a direct-to-fan storefront for cover songs.
“For over ten years Spotify seemingly neglected to invest in a platform to best manage the song copyrights powering their service. This has resulted in an extremely challenging relationship for Spotify with songwriters and their music publishing partners. While it doesn’t address inequitable royalty rates, the acquisition of Loudr puts Spotify on the right path towards accounting to songwriters and publishers and in a more timely and accurate fashion.” – Joe Conyers III, GM & Co-Founder of Songtrust
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