[Fmpro] Getty Images Launches Music Licensing Service

[kirbyko3@aol.com]

Pump Audio is where my catalog lives, and I approached them after the Getty announcement a few months ago to ask what changes would be coming, particularly because I was concerned that Getty would do to music what it did to photography sales -- namely, create something along the lines of "istockphoto" where you could license a track for $1 and the composer would get 1/3 of that license fee. 



They said that that business model wasn't in the cards, and nothing would change for the artists whose catalogs they rep: it was all upside, in that they would now have access to Getty's entire client base.? No one at Pump was being laid off, and operations were still happening out of the Pump offices in Tivoli, NY.



I believe them, but of course I would take that with a large grain of salt. A company like Getty doesn't drop $42M on an acquisition without having a few key changes in mind.



Also, let's keep in mind that this Soundtrack service already exists for Pump Audio clients and existed long before Getty's purchase was even a glint in anyone's eye. No mechanical is paid because it's not a download a la iTunes: a license fee is paid, and it's quoted based on the proposed use of the music (website music, the dot-com area of a news division, a commercial, etc). 

Because Pump Audio's core founders are still in the mix of the everyday business, I have faith in them -- I hope they don't let us down. They really did start that library for all the right reasons, having been musicians themselves at one time, and my experience with them over the last few years has been positive.

Kerry Muzzey


-----Original Message-----
From: Dana from Serious Vanity Music <dana at seriousvanity.com>
To: fmpro at nxport.com
Sent: Wed, 3 Oct 2007 1:12 pm
Subject: Re: [Fmpro] Getty Images Launches Music Licensing Service




That's something that Pump Audio-participating composers can answer better 
than I.  I'd be curious to hear if it has changed from how PA paid, or if 
it's the same system.


Dana Detrick-Clark of Serious Vanity Music
http://www.seriousvanity.com

----- Original Message ----- 
From: "LesHurdle" <leshurdle at avradionet.com>
To: <fmpro at nxport.com>
Sent: Wednesday, October 03, 2007 11:38 AM
Subject: Re: [Fmpro] Getty Images Launches Music Licensing Service


> 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:

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