Polaris Music hub in new pan-European licensing agreements for Teosto, Koda and TONO
The Polaris Music hub has negotiated new agreements between both Spotify and Apple and the three Nordic collection societies Teosto (Fi), Koda (Dk) and TONO (NO). The agreements cover the direct licencing of the three societies’ repertoires.
The Nordic collection societies Teosto, Koda and TONO have previously relied on their European sister societies to do the licencing, invoicing and reporting of their repertories in the different European music markets. For the online music area this is about to change. Earlier this year new pan-European agreements have been signed with both Facebook and SoundCloud, and now the societies are pleased to announce the new agreements with Spotify and Apple music.
– We are pleased to announce that we have negotiated a new pan-European agreement with Spotify. We also reached an agreement with Apple earlier this year. By licencing the three repertoires throughout Europe the societies will be able to exercise more direct control over the use of their repertoires on the service. The whole process of invoicing and reporting will be simplified, and the societies will receive payments for the use of our repertoire in Europe significantly faster than before, states Åsa Carild, CEO of Polaris Music Hub.
The new agreements means that Teosto, Koda and TONO will now have one counterpart for the pan-European market for the use of their respective repertoires, which will ensure that composers, songwriters, lyricists and music publishers will receive reports and royalty payment faster. Polaris Music hub will together with Teosto, Koda and TONO improve the identification of their repertoire in the European markets. The agreement s also include s licensing of the three societies repertoires in their respective domestic markets.
About The Polaris Music Hub
Polaris Hub is a joint venture created by the Nordic collection societies Koda (DK), Tono (NO) and Teosto (FI). Polaris Hub acts on behalf of all three societies when negotiating and entering into agreements with international digital music services, to provide music fans with access to the broadest catalogue of songs as well as faster distributions and lower costs for all the rightsholders represented by the three Nordic collection societies.