Bruce New from Sony ATV made the comments during the Music Publishers Association (MPA) panel on getting more from lyrics and score at the Great Escape music conference in Brighton.
The panel, including Sue Hantsch from the MPA, Sarah Hopkins from Music Sales and Sunny Side Up’s Michael Gottlieb, discussed ways in which publishers can license music to make more money for songwriters and rights holders.
Bruce said: ‘Ten years ago the sync licensing area was aimed towards the advertising, TV and film industries. Nowadays internet streaming and apps offer other opportunities. Publishers need to be more proactive in embracing new ideas in maintaining rights and getting best value for creators.
‘Everything that comes to us ... we have to have an open mind to it so we can get value for our songwriters.’
He added that the music industry is continuing to align itself with tech start ups and more opportunities are being created as a result.
Michael Gottlieb from Sunny Side up discussed some of the ways publishers have previously made money from licensing music to physical product including lyrics used on baby clothes and kitchenware.
Sue Hantsch from the MPA opened the panel by discussing the organisation’s publishing revenue figures for 2012. The stats, which accounted for 70 percent of the music publishing market, showed revenues of £904m for 2012.
Meanwhile, Sony ATV recently announced the initial roster for its neighbouring rights unit including recent chart toppers Clean Bandit and Pharrell Williams.
Great Escape delegates were warned that they could be missing out on neighbouring rights income during the How Artists Can Earn More Cash From Copyright: Neighbouring Rights panel. Read the full story.