US recorded music licensing body SoundExchange is entering the world of publishing rights. Accordin to "Music Business Worldwide", indeed, sources unveiled that the Washington D.C-based organization has fully acquired mechanical rights collection agency CMRRA (Canadian Musical Reproduction Rights Agency Ltd.).
The deal will bring together the management of a vast tranche of Anglo-American sound recordings and music publishing repertoire.
The two companies are expected to continue to be run separately, but with increasing collaboration behind-the-scenes.
Toronto-based CMRRA licenses mechanical/reproduction music rights across streaming platforms and physical formats, in addition to broadcast (including both satellite and analog services).
Performance rights organization SoundExchange paid out a record $884m in digital royalties to artists and labels in 2016 - up 10% year-on-year.
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