FUGA Acquire Rights Platform Songspace
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● FUGA to invest an additional significant sum over two years to grow and enhance the Songspace platform
Amsterdam, 30 July 2019: Leading technology and services company FUGA have acquired full ownership of innovative Nashville-based rights management and creative workflow platform Songspace.
Songspace’s software centralises essential publishing assets such as metadata, audio files, agreements and writer contacts and also identifies gaps in data such as accreditation and lyrics. It has clear use value for sync and a flexible data model that drives the administration capabilities required for accurate royalty collection, including works registration, analytics, and tracking.
Songspace will continue to operate as a standalone platform with its entire leadership remaining in place. FUGA are set to make a significant investment into the company over the next two years to build out its offering and further the team’s already well-established expertise.
This union of two leading platforms will provide functionality on different ends of the life cycle of musical copyrights, creating the potential for Songspace and FUGA to build a world-class service with combined publishing and master recording functionality, and offering clients a complete rights dataset in one go.
Songspace CIO/CTO Darren Briggs said ‘The combined strength and capabilities of the Songspace and FUGA teams and technologies position us to expand and enrich our agnostic products and services across the entire music IP and rights lifecycle.’
Songspace co-founder and Director of Engineering Christopher Igoe added ‘I’m personally excited to deliver new features and improvements even faster while improving music metadata for all of our current and future clients.’
The combination of FUGA and Songspace brings together Songspace’s 250 high quality publishers and record labels including Kobalt, Reservoir Media, Downtown Music Publishing, Big Deal Music and Sentric with FUGA’s 500+ clients including Epitaph Records, Ultra, DominoCurb, Mom + Pop, and mtheory. The acquisition also grows FUGA’s presence in North America through Songspace’s base in Nashville, one of the three music capitals of the USA, alongside their existing office in New York.
Commenting on the move, FUGA CEO Pieter van Rijn said ‘New technology has the potential to revolutionise digital rights management for rightsholders, streamlining the ecosystem in a way which makes businesses more efficient and profitable. We are looking forward to significantly investing in Songspace’s excellent platform and creating synergies in the field of data transparency and matching, which will ultimately enable our clients to manage all rights data under one roof.’
Songspace co-founder and CEO Robert Clement added ‘I can’t say enough about how hard the Songspace team worked for this outcome and it’s just the beginning. Our mission is to build enterprise level products and services with the best user experience possible and make FUGA+Songspace the only independent platform for all music content owners.’
About Artist / Company
At the company’s core is the FUGA platform, offering best-of-breed digital supply chain integration alongside dynamic promotion and marketing. The flexible platform enables clients to vary services across different DSPs so that they can develop their catalogue management, distribution, marketing, licensing and royalty accounting activity as their needs evolve. Connected to over 260 digital service providers worldwide, FUGA’s platform manages 4.5 million tracks, with over 5 million deliveries every month.
FUGA are listed on the highest distributor tier for Spotify and Apple: a Preferred Plus distributor and encoding house for Apple and preferred label distributor and recommended delivery platform for Spotify. An active member of the DDEX consortium, FUGA are also partnered with the dotBlockchain Music Project as part of a coalition to spearhead development of a global blockchain ecosystem.
With FUGA’s recent acquisition of Songspace, the combined capabilities of both platforms have broadened the services available for their collective clients. The FUGA and Songspace union positions both services to provide the only unified, end-to-end solution for record labels and music publishers that supports the full lifecycle of music.
Source Name PR
August 2, 2019 7:44am ET by Name PR