(CelebrityAccess) — Private, for-profit US-based performing rights organization Pro Music Rights announced plans for what it bills as the first-ever standardized Public Performance Rights license.
According to Pro Music Rights, the license will feature a usage rate of $0.01 USD 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.
The payment will go directly to the rights holders of the musical composition without an administration fee or royalty pool model. Instead, Pro Music Rights will charge a flat monthly licensing fee of $2,500 USD in addition to the Usage Fees that are paid 100% to rights holders.
As well, the blanket license will require the use of a hardware and software-based Pro Music Rights Music Tracking system to ensure collections, payments and invoicing the PRO said.
“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,” Pro Music founder Jake P. Noch said.