The Berklee College of Music has announced an Open Music Initiative (OMI) which aims to improve the identification and compensation process of digital music for rights owners.
The digital revolution has had profound effects on the music industry and this made compensating artists and rights owners for their works more difficult. With this new initiative in place, Berklee are hoping that this will help rights owners receive the rightful royalties for their content.
The majors: UMG, Sony Music, and WMG have joined alongside Streaming services: YouTube, Spotify, SoundCloud, Pandora and others to help with the efforts of building what Berklee calls ‘an open-source platform for tracking music creators and rights owners.’ Other participants who are backing OMI, include Downtown Music Publishing, Tunecore, CD Baby, Future of Music Coalition, and several others. Read more at digitalmusicnews.com