[Fmpro] Getty Images Launches Music Licensing Service

[LesHurdle]

How will composers be paid from the profit via the 'MECHANICAL' sale ??

L

On Oct 3, 2007, at 9:06 AM, Dana from Serious Vanity Music wrote:

> I think this came up on the list before, when Getty purchased Pump  
> Audio.
> Thought some of you might be interested, as it has now launched.
>
> from digitalmusicnews.com:
>
> Getty Images Launches Music Licensing Service
>
> Getty Images has now launched a music licensing service, a move  
> that follows
> the recent acquisition of Pump Audio.  Getty, a massive repository and
> licensor of visual assets, purchased Pump Audio in June to power a
> diversification into music.  The $42 million buyout is now manifesting
> itself as Soundtrack, a licensable collection of roughly 20,000  
> songs from
> independent artists and composers.  "When we acquired Pump Audio in  
> June, we
> made a commitment to develop dynamic and nimble new music platforms  
> and
> tools which meet the growing content needs of our customers,"  
> explained
> Jonathan Klein, chief executive and cofounder of Getty Images.   
> "The launch
> of Soundtrack is just the beginning of that strategy."
>
> Soundtrack targets producers across broadcast, film, advertising,  
> and other
> areas.   The online marketplace is designed to offer an efficient  
> method for
> sampling and securing music, and Pump Audio compensates  
> participating rights
> holders accordingly.  Looking forward, Getty pointed to a growing  
> catalog,
> and the possible introduction of major label content.  The Pump Audio
> clientele already includes MTV Networks, BBC, Discovery Channel and  
> New Line
> Cinemas, and Getty is aiming to offer those customers a broader  
> palette of
> multimedia assets.  The concept, available at gettyimages.com/ 
> music, was
> first announced on Tuesday.
>
> Permalink: http://digitalmusicnews.com/stories/100207getty
>
> Related article (registration required):
>
> "Getty Officially Confirms Pump Audio Acquisition," June 20, 2007
> http://digitalmusicnews.com/stories/062007getty
>
>
> Dana Detrick-Clark of Serious Vanity Music
> http://www.seriousvanity.com
>
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