[Fmpro] Pump Audio - No Copyright Ownership

[Mark Northam]

Just to clear the air a bit given all the discussion about Pump/Getty, it's
vividly clear from the Pump website that they take absolutely no copyright
interest in any of the music in their library, specifically:

What rights do I give Pump Audio when I sign the agreement?
You give Pump the right to license your songs on a non-exclusive basis to
any of our production or media clients worldwide at a license fee determined
by Pump based on competitive factors and the type of usage. You agree to
keep your music in the catalog for a minimum period of one year - or two
years if your material is loaded onto a PumpBox hard-drive. You retain all
ownership of publishing, copyrights and masters. Pump only has the right to
broker your music to interested parties for production, information or
entertainment services use (no sound-alone recordings), and to administer
the uses Pump generates on your behalf with the corresponding performance
rights society.
from: http://pumpaudio.com/artists/faq.php

The assets of Pump would seem to be their licenses in place for existing
placements and their administrative interests (no copyright) in the music in
their "library", which can be pulled by the owners of the music any time
after an initial 1 or 2 year period.  The owners of the music appear not to
be restricted in any way from exploring other nonexclusive ways (exploring
their own licensing deals, etc) of monetizing their music.

The renaming of cues appears to be a mechanism to track placements they do,
rather than a way to create a second (derivative) copyright of any kind.

All in all, assuming the reporting is fair and complete, this seems like a
pretty good deal for composers. But I still am trying to figure out how a
company that doesn't own any copyrights (at least of the music under this
agreement) is worth $42 million...

Best,

Mark Northam