LUXEMBOURG, February 13, 2019 /PRNewswire/ --
Jamendo adopts the Independent Management Entity (IME) status in Luxembourg with the ambition to operate across the European Union.
Since its creation in 2005, Jamendo has been striving to offer independent music creators worldwide (authors, performers, producers) an alternative way to make their creations known and to manage their rights, considering that the traditional channels of management through Collective Management Organizations often don't provide them with the visibility and remuneration opportunities they look for.
Created by the Directive 2014/26/EU transposed in Luxembourg Law in April 2018, the IME legal status allows commercial entities to perform activities similar to national copyright and related rights Collective Management Organizations such as, for copyright, SACEM, SGAE, GEMA and SIAE.
An IME is organized on a for-profit basis and is not owned or controlled by the rights holders whose rights are managed, unlike a Collective Management Organization. Considering, however, that IMEs carry out the same activities as Collective Management Organizations, both are subject to certain obligations in terms of management and transparency, including those on the financial aspects of the exploitation of rights.
Alexandre Saboundjian, CEO of Jamendo S.A.: "It's perhaps the most important step in the Jamendo story, already created more than 10 years ago. We see the adoption of the IME status as a confirmation of Jamendo's business model and vision. It will allow Jamendo to provide rights holders with more opportunities to distribute their music and generate revenue while maintaining its existing qualities: equal treatment of all rights holders, transparency in the music usage and royalties generated. Therefore offering flexibility and freedom with no membership fee and no imposed exclusivity. The music industry is changing, the IME status will accelerate the evolution."
With more than 600,000 tracks and 40,000 artists, Jamendo is one of the largest online independent music platforms. It provides free music for personal enjoyment and various licenses for projects or businesses. Jamendo supports independent artists by offering them a global space to promote and sell their music.
SOURCE Jamendo SA