WASHINGTON, March 8, 2016 /PRNewswire-USNewswire/ -- SoundExchange today unveiled its ISRC Search Site, a dynamic new website designed to benefit the entire music industry by providing instant access to SoundExchange's extensive database of sound recording information. SoundExchange's ISRC Search Site improves efficiency and transparency and demonstrates SoundExchange's commitment to the music industry.
A free service that provides 24/7 access to data, SoundExchange's ISRC Search Site will help all parties through improved tracking and reporting of sound recording usage. The database includes nearly 20 million ISRCs reported to SoundExchange. The initiative will also help ensure fast, accurate identification of sound recordings, which will help music creators receive prompt, accurate and fair compensation from the digital services that use their music.
"SoundExchange is at the center of digital music, with unparalleled expertise in royalty administration and music metadata. We created this critical resource to improve our own efficient royalty processing, and we are delighted now to give the music community access to this much-needed data," SoundExchange President and CEO Michael Huppe said. "This is part of our ongoing commitment to develop products and services that help the music industry move forward. We eliminate friction through better and more efficient technology solutions, so creators in the music community can focus on the music."
International Standard Recording Codes (ISRCs), the standard for identifying sound recordings, are critical in pinpointing the tens of millions of unique sound recordings in commercial releases worldwide, and SoundExchange's ISRC Search Site makes visible its sound recording metadata linked to the ISRC identifier. While the database does not contain a listing of every ISRC ever issued, it contains the vast majority of commercially active recordings sourced by thousands of rights owners, with more listings added every day.
While ISRC data is available elsewhere, it has not been provided in such a comprehensive manner until now. The creation of this single, comprehensive online resource enables recording artists, rights owners, music services and fans to quickly locate accurate identifiers for creative content and download the associated metadata.
The International Federation of the Phonographic Industry (IFPI), which manages the ISRC system globally under an appointment from the International Organization for Standardization (ISO), selected the SoundExchange repertoire database to power the ISRC lookup capability on its own IFPI.org website.
"The ISRC Search Site will give a new level of accessibility to help musicians, performers, managers, music publishers, and many others understand where their music has been used whilst also facilitating more accurate reporting by users of digital music. With the quantity of data expected to grow as we move deeper into the digital age, this tool will be vital to ensuring better communication throughout the music ecosystem," IFPI Chief Executive Frances Moore said. "We're delighted that SoundExchange has developed this much-needed tool to help our record company members. As the world's biggest CMO, they have an unparalleled platform to deliver the underlying technology and data this industry needs."
"The entire music community owes SoundExchange an enormous debt of gratitude for bringing to fruition this greatly-needed resource," said Cary Sherman, Chairman and CEO, Recording Industry Association of America (RIAA). "Important sound recording information will now be available to everyone, from artists to record labels and music services. This portal provides the foundation on which the licensing and royalty payment systems of tomorrow - quick, efficient, transparent and precise - can be built. That's good news for all music creators."
"It's no surprise that SoundExchange pioneered this encyclopedic tool given their expertise in processing billions of lines of data and distributing billions of dollars in royalties. The SoundExchange ISRC Search Site will ensure greater accuracy in payments for artists and improve transparency for the entire industry," said Ray Hair, International President of American Federation of Musicians (AFM).
"The SoundExchange ISRC Search Site is a tremendous development, is something we have needed for more than a decade, and will quickly become an invaluable resource for everyone in the music industry. For A2IM, this means greater transparency and will improve the accuracy of payments to our artists and labels," said Richard Burgess, CEO, American Association of Independent Music (A2IM).
SoundExchange is the independent non-profit collective management organization representing the entire recorded music industry. The organization collects statutory royalties on behalf of over 110,000 recording artists and master rights owners accounts for the use of their content on satellite radio, Internet radio, cable TV music channels and other services that stream sound recordings. The Copyright Royalty Board, created by Congress, has entrusted SoundExchange as the sole entity in the United States to collect and distribute statutory digital performance royalties from more than 2,500 services. Since 2003, SoundExchange has paid out approximately $3.5 billion in royalties. For more information visit www.SoundExchange.com or www.facebook.com/soundexchange.