Music tech company Jaxsta has added a new feature that it says matches works to recordings, allowing users of its database to secure lost royalties, source song licenses and syncs.
The Australia-based, publicly listed firm, which claims to be “the world’s largest database of official music credits”, made the announcement on Tuesday (November 1).
Jaxsta, which houses more than 289 million official music credits from over 330 data partners, saw its shares close up 3.6% on the ASX following the disclosure.
The so-called work-to-recording data matching technology will provide songwriters, PROs, CMOs, publishers, music supervisors, TV production houses and music lawyers a source to access the right licensing, streamline revenue, and manage works they control, Jaxsta said.
In one example, Jaxsta’s new technology matched Taylor Swift’s Love Story to 134 recordings including lullaby renditions by Rockabye Baby!, instrumental covers by White Knight Instrumental, and another version of Love Story by the Midnite String Quartet.
Jaxsta included the “Works,” data which represents the compositional element of a song that is identified by an ISWC (International Standard Musical Work Code).
The company says that this technology bridges the gap between recordings and publishing by initially adding 11 million works from The MLC (The Mechanical Licensing Collective), and matching them to Jaxsta’s 48 million recordings.
Of these recordings, 75% link to contact information for 460 publishers and rights administrators, the company claims.
In another example, Jaxsta said that when users go to Adele’s profile on Jaxsta, they will be able to filter her credits according to Releases, Songs and Works.
By selecting Hello, they will be able to view the publisher info, as well as mapping to 354 recordings of that composition, which are all deep-linked and identified by ISWC.
“Jaxsta’s work – recording matching accuracy means that songwriters, publishers, music supervisors, PRO’s and CMO’s can better streamline their royalty payment operations. We are proud to continue to develop features that improve the industry for so many,” said Jaxsta CEO Beth Appleton.
This technology is expected to help artists and rights owners recover lost revenue in the music industry’s so-called ‘black box,’ Jaxsta says.
“Jaxsta’s work – recording matching accuracy means that songwriters, publishers, music supervisors, PRO’s and CMO’s can better streamline their royalty payment operations.”
Beth Appleton, Jaxsta
Jaxsta notes that globally, an estimated $1.5 billion in royalties are not paid to the correct rights holders due to inaccurate and missing data as recordings and works are not linked with the right metadata to the correct creators and contributors.
“Many of our API customers have asked about works so it is great to be able to offer comprehensive, deep-linked metadata for works, releases, recordings and creative profiles via a single set of APIs,” according to Michael Stone, Jaxsta’s CTO.
“Many of our API customers have asked about works so it is great to be able to offer comprehensive, deep-linked metadata for works, releases, recordings and creative profiles via a single set of APIs.”
Michael Stone, Jaxsta
The new feature is accessible on all levels of membership at Jaxsta’s platform. Business and Enterprise members can enjoy scaled search solutions on top of the new feature.
The move comes as Jaxsta continues to grow its database, which now contains more than 289 million “official, deep-linked” music credits across 75 million pages. These credits are sourced from more than 330 data partners including record labels, publishers and industry associations. These partners include Sony Music, Universal Music, Warner Music and The Recording Academy, among many others, according to its website.
Back in July, the company teamed up with US digital music distribution platform DistroKid, allowing the latter platform’s two million members add to their credits to Jaxsta’s global database.
Last year, the company received AUS $1.42 million (about $914,000 in current rates) in investment from Los-Angeles based B2B music rights and licensing marketplace Songtradr as part of a five-year exclusive commercial agreement with a revenue share arrangement between the companies.Music Business Worldwide