[Fmpro] Getty Images Launches Music Licensing Service

[LesHurdle]

You're all missing the point.

YOUR product has been SOLD...... PA made a profit from the sale of  
the company....... just as per when films are 'sold'......... where  
is your share of that profit....... comprende?

L

On Oct 3, 2007, at 11:19 AM, Dana from Serious Vanity Music wrote:

> 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
>>
>
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