NEW YORK, Oct. 30, 2014 /PRNewswire/ -- With increasing revenue opportunity of digital music distribution in international markets, TuneCore Music Publishing Administration today announced two new sub-publishing agreements that bring revenue-collection opportunities in Brazil and Greece. The deals with independent publishers Basement Brazil Editoria Musical, Ltda. and D-Version Music Publishing, Ltd. will enable songwriters who use TuneCore Music Publishing Administration to receive royalty payments when their compositions are performed, downloaded, streamed and sold.
The agreements with Basement and D-Version give TuneCore the ability to register songwriters' compositions with the local societies responsible for local royalty collection. Once a composition is registered, the royalties collected by the society on behalf of the songwriter will be collected and redistributed by TuneCore. Without a publishing administrator, these earned royalties would be virtually impossible for independent songwriters to collect from the local society.
International markets are growing revenue drivers for independent artists, and Brazil and Greece both hold particularly high growth potential. Brazil continues to be a fast-growing music market, as indicated by TuneCore Artist revenues increasing 147% in 2013 vs. 2012.
"As two fiercely-independent companies dedicated to supporting independent artists and songwriters, TuneCore and Basement are a natural fit," stated John Telfer, Co-Owner, Basement. "We are honored to have been chosen by TuneCore to be their sub-publisher in Brazil and to play an important role in their ongoing mission to help get music out and monetized around the world."
Greece, which is newly experiencing the digital music revolution, is also poised for marked gains. According to the International Federation of the Phonographic Industry (IFPI), digital music revenues in Greece were 28% of the country's total music revenues in 2013 and are projected to grow at a rate outpacing that in the US.
"All of us at D-Version are very excited to work with a game-changing company like TuneCore," commented Denise Andrikopoulou, Owner of D-Version. "As the world of music publishing in the digital distribution era continues its evolution, it's partnerships like ours that will ensure songwriters from around the world are able to get their hands on their hard-earned royalties."
"Digital distribution has made the music industry truly global, yet the model of royalty collection and payment remains localized," stated Jamie Purpora, President of TuneCore Music Publishing Administration. "At TuneCore, we're focused on ensuring artists and songwriters can take advantage of the worldwide opportunity. It's partners like Basement and D-Version that help us to make that a reality."
TuneCore brings more music to more people, while helping musicians and songwriters increase money-earning opportunities and take charge of their own careers. The company has one of the highest artist revenue-generating music catalogs in the world, earning TuneCore Artists $471.5 million on 10.6 billion streams and downloads since inception. TuneCore Music Distribution services help artists, labels and managers sell their music worldwide through iTunes, Amazon Music, Spotify, Google Play, and other major download and streaming sites while retaining 100% of their sales revenue and rights for a low annual flat fee. TuneCore Music Publishing Administration assists songwriters by administering their compositions through licensing, registration and worldwide royalty collection. Additionally, the Artist Services portal offers a suite of tools and services that enable artists to promote their craft, connect with fans and get their music heard around the world. TuneCore is headquartered in Brooklyn, NY with offices in Burbank, CA and Nashville, TN, and is backed by Opus Capital and Guitar Center. For more information, visit www.tunecore.com.
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