NEW YORK (CelebrityAccess) — Music streaming service Pandora has struck a multi-year agreement with SONGS Music Publishing to license their catalog.
The agreement continues Pandora's trend of going directly to music publishers and follows on the heels of the deal with Sony/ATV that they announced last month.
Financial terms of the agreement were not disclosed, but Pandora reports that the companies worked together to "build an innovative approach to publisher economics" and that the agreement would allow SONGS to follow through with its goal of delivering improved performance royalties for its songwriters.
The public performance royalties Pandora also pays to rights holders of master recordings is not affected by this agreement, the companies said.
"Now is the time to move past the over-regulation of songwriter rights and towards a market-based approach to streaming music,” said SONGS founder and CEO Matt Pincus in a statement. “This agreement is a big step forward in a long conversation about fair and equitable compensation for all songwriters and publishers. I value Pandora's commitment to treating all songwriters and publishers equally and look forward to a new chapter with them." – Staff Writers