WASHINGTON D.C. (CelebrityAccess) — SoundExchange announced a partnership with SourceAudio to provide fully integrated, global licenses to content creators in the rapidly growing podcast industry.
The collaboration would provide Podcastmusic.com, a digital music marketplace for podcasters, with access to SoundExchange’s membership of music creators and offer licensing for label and publisher-owned music.
The partnership will extend Podcastmusic.com’s current database of 700,000 production and music bed tracks by allowing content creators to use feature music in a podcast, including master use, performance, synchronization, and mechanical rights via a digital marketplace.
“Currently there is no simple way for a podcaster to acquire rights for feature music in their podcasts. We are solving that by working with SoundExchange,” said Geoffrey Grotz, CEO/Co-Founder of SourceAudio. “By connecting with SoundExchange’s community of music creators including labels, artists, publishers and songwriters, and benefitting from their deep expertise, we will be able to deliver a high-quality repertoire of music for podcasters.”
Podcasts have experienced explosive growth in recent years, and a recent study by the Interactive Advertising Bureau https://www.iab.com/wp-content/uploads/2019/05/Full-Year-2018-IAB-Podcast-Ad-Rev-Study_5.29.19_vFinal.pdf suggested that the sector will generate $1 billion in advertising revenue by 2021.
The service will launch in 2020. Participation in this service by publishers, labels, and other rights owners is on a voluntary basis.