SoundCloud and the Performing Rights Society for Music seem to have wrapped things up legally. The agreement sees SoundCloud pick up a “multi-territory licensing agreement” which allows for the agency’s artists to pick up royalties from SoundCloud.
The PRS first came after SoundCloud in August about over the license in question. SoundCloud paid artists, but didn’t go the route PRS preferred. The new agreement would make sure artists get paid through the agency and hopefully these issues wouldn’t pop between the platform and the agency.
While on SoundCloud’s side it means it will continue to be able to feature artists’ music on the platform, PRS stated that it would allow for the two sides to “work on ways to further increase the value of SoundCloud to creators, and improving metadata and the identification of repertoire for royalty distribution.”
SoundCloud has plans to launch new plans and expand into Europe next year. The legal truce with the Performing Rights Society for Music is an important part of that as it allows for SoundCloud to operate without running into any snags in the market.