Privately-funded, US-based performing rights organization Pro Music Rights is announcing what it describes as the first-ever standardized Public Performance Rights license.
This license will have a usage rate of $0.01 for every usage to be paid fractionally based on the percentage controlled by any musical composition under any of Pro Music Rights’ clients’ works registered with Pro Music Rights.
Pro Music Rights says that the $0.01 per usage will go directly to the rights holders of the musical composition without the PRO deducting an administrative percentage or utilizing a royalty pool model.
Instead, Pro Music Rights will charge a flat monthly licensing fee of $2,500 in addition to the Usage Fees that are paid 100% to rights holders.
Every Pro Music Rights blanket license agreement will require the use of a Pro Music Rights Music Tracking system that will be both hardware & software based to ensure accurate royalty collections, payment, and invoicing.
Pro Music Rights was founded by Jake P. Noch in January 2018 and controls an estimated market share of 7.4% in the US.
The organization represents over 2 m works that feature such notable acts as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, OG Maco, the late Nipsey Hussle, and many others.
“What is a stream worth? In other words, how much do I get paid for a single stream? This is a question that I, Jake P. Noch, have heard many times over the years while working in the music industry. Now as the Chairman/CEO of Pro Music Rights LLC, I can answer the question.”
Jake P. Noch
“What is a stream worth? In other words, how much do I get paid for a single stream? This is a question that I, Jake P. Noch, have heard many times over the years while working in the music industry.
“First as an artist and then as an owner of multiple record labels and music publishing companies. Now as the Chairman/CEO of Pro Music Rights LLC, I can answer the question. A stream under Pro Music Rights, or any usage type for that matter, is worth $0.01 USD.”Music Business Worldwide