Under the Technical Online Working Group Europe (TOWGE), organisations including ICE, the joint venture between PRS for Music, STIM and GEMA, are working together to improve cross-border royalty administration.
Recommendations, published yesterday (Monday), include how copyright administrators should claim for authorised shares, and a set of agreed standards covering invoicing and data management.
Benefits for music creators will be faster, more accurate payment and a fairer distribution of any remaining royalties.
It is also hoped licensors and administrators will be able to reduce delay caused by unnecessary disputes.
The improved practices aim to provide a building block for wider industry agreement on residual royalty solutions with major Digital Service Providers.
Neil Jones, vice president of online processing at ICE, said in a blog post: ‘These developments are a big step forward for the industry in improving the royalty chains that ultimately lead to rightsholders payment.
‘ICE is committed to the most effective and efficient digital music rights market, through a combination of investment in new technology, standards adoption and fair value.’
Read the full post.