[Fmpro] Getty Images Launches Music Licensing Service

[Dana from Serious Vanity Music]

Thank you for sharing this, Kerry.  I really didn't want to think that 
acquisition automatically equalled bad news, and it doesn't seem like it is. 
Makes me personally more confident in getting some stuff in the catalog as 
well.


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

----- Original Message ----- 
From: <kirbyko3 at aol.com>
To: <fmpro at nxport.com>
Sent: Wednesday, October 03, 2007 1:06 PM
Subject: Re: [Fmpro] Getty Images Launches Music Licensing Service


>
> 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
>